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For home improvements, consolidating debt or whatever you need.

Sometimes, it’s the little changes we make that can add up to a big difference. Switching to a Home Equity Line of Credit from Patelco can lead to better cash flow, less debt and greater control over your financial future. Switching is easy – you can apply instantly online.

And for a limited time, switching to Patelco can get you a rebate of 1% up to $1,000.* When you include a variable interest rate as low as Prime + 0% (5.00% APR),² that adds up to major savings.

Take a look at these other benefits:

  • All closing costs are PAID on lines up to $250,000³
  • There are NO early closure fees and NO annual fee
  • Get a variable interest rate as low as Prime +0% (5.00% APR)²
  • Offers possible tax advantages (consult your advisor)

You worked hard for your money. We want you to keep more of it. With a rebate of up to $1,000,* a Patelco Home Equity Line of Credit can help you do just that.


*Rebate offer of 1% based on principal balance of any non-Patelco second mortgage lien paid off with loan proceeds from a new PCU HELOC opened during the promotional period only. Maximum rebate is $1,000 and will be deposited into your Patelco account after new HELOC funds. Example scenario of a second mortgage balance transfer to a new Patelco HELOC with a principal balance of $45,000 as shown on payoff demand statement would result in a rebate of $450.

¹ We used information on you that we obtained from a consumer reporting agency in connection with this “Pre-qualified” offer. You were selected to receive this offer because you satisfied certain criteria for creditworthiness which we previously established. The offered credit may not be extended if, after you respond to this offer, we determine that you do not meet the criteria used to select you for this offer or any other applicable criteria bearing on creditworthiness, or if you do not provide the required collateral. This offer may also be withdrawn if the credit line together with any other mortgages exceed 80% of the property value of 1-4 family, owner-occupied properties used as collateral. Not all applicants will qualify for the lowest rate.

² Prime + 0% APR (annual percentage rate) and other terms shown are accurate as of October 1, 2019 and apply to a HELOC for the most qualified applicant at CLTV up to 80%. Not all applicants will qualify for the lowest rate. Rates vary based on property value, line amount and other factors, and will vary for second or vacation homes. The minimum periodic payment is interest-only for the first ten years (“draw period”) followed by fully-amortizing payments to repay the balance over the final fifteen years. No draws will be allowed during the repayment period. Payments and rate can adjust monthly. Payments will increase if rates increase. At the end of the draw period, your required monthly payments will increase because you will be paying both principal and interest. The rate is calculated using an index plus a margin. The index used is the Prime Rate as published in The Wall Street Journal Western Edition on the last business day of the month prior to the change. The current prime index is 5.00%. Maximum interest rate is 17%. Home Equity loans and lines of credit are available on California properties only.

³ The minimum credit line amount is $10,000 and the maximum is $500,000. Patelco Credit Union will pay customary closing costs on lines up to $250,000 in second lien position. Borrower is responsible for closing costs on lines in first lien position. Closing costs range from $0 to $2,500. This offer does not include escrow or recording fees that may result from changes in title or vesting. Visit patelco.org/HomeEquity for additional details.

In compliance with IRS requirements, Patelco issues an IRS Form 1099 if cash rebates from all promotions awarded to a member in a given tax year total $600 or more. Please consult with your tax advisor.

Terms, rates and fees are subject to change, without notice. Some restrictions may apply.

NMLS ID # 506373

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