St. Michael's Federal Credit Union

Home     |     Online Banking


Home Equity Lines of Credit Disclosures


Interest Rates and Interest Charges
Annual Percentage Rate (APR) 4.75%
Payment Terms
examples based on $10,000 Outstanding Balance
Under the monthly payment option, if you made only the minimum monthly payment and took no other credit advances, it would take 15 years to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE of 4.75%. During that period , you would make 60 payments varying between $66.65 followed by 119 payments of $77.61, with a final payment of $78.33.
Fees
Annual Fee none
Penalty Fees Late Payment: 3% of the late amount of principal & interest if over 15 days late
Returned Payment: $25.00

Please refer to page 2 of your HOME EQUITY LINE OF CREDIT CONTRACT under number 24 for detailed information regarding suspension of credit and reduction of line of credit.

*Alimony, child support, or separate maintenance income need not be revealed if you don't wish to have it considered for repaying this obligation
*Member should retain a copy of this disclosure
*Terms accurate as of 11/3/14
*The credit union will acquire a security interest in the member's dwelling, which the member could lose in the event of default
*Member should consult a tax advisor concerning the deductibility of interest paid under the plan.
*All rates are subject to change without notice. Please contact a member service representative at (508) 674-3861
*Your line of credit may be terminated for engaging in fraud, fail to make payments and your action or inaction adversely affects the collateral or our rights in the collateral. Advances are limited to $500.00 in each transaction and available credit limits.
*Rate is variable
*Maximum APR that may apply on variable rate plan is 18%
*Property insurance is required
*Based on prime rate

Pay Your Bills Online using Online Banking!
Announcement!

Effective Feb, 2, 2012 an update to Home Banking will take place. The Home Banking will now become Virtual Branch. What this means to you is updates of online transactions. As always please call with any questions to (508) 674-3861. Thank You!
Signup for BillPay today!
Learn More >

Email Us!
We love receiving your comments and suggestions about the Credit Union. Please use the form below to send us them anytime!
Send Email

jUsT for KiDs!
Here at St. Michael's Credit Union we love doing things that involve kids. And this section of our website is devoted to them. Go! >

St. Michael's Newsletter
Updated and archived, you can view the SMFCU newsletters for lots of valuable information. Go! >

Order Checks OnlineOrder Personal Checks Online