Home Equity Line of Credit

Early Disclosure

This disclosure contains important information about our Home Equity Line of Credit loans. When applying for a Home Equity Loan, you must retain a copy of the preliminary disclosure to understand your rights and our policies.

Availability of Terms

All of the terms described below are subject to change. This early disclosure and rate publication does not guarantee a locked rate. Rate locks will be confirmed upon receipt of a completed application.

If these terms change (other than the fluctuation of the index) and you decide, as a result of these changes, not to enter into an agreement with us, you are entitled to a refund of any unused fees you paid to us or anyone else in connection with your application. If, for example, fees are incurred for the appraisal, credit report, or flood determination, and the application is rescinded for any reason, you will be responsible for payment of such fees.

Security Interest

We will take a mortgage on your home. You could lose your home if you do not meet the obligations in your agreement with us.

Possible Actions

Under certain circumstances, we can (1) terminate your line and require you to pay the entire outstanding balance in one payment; (2) refuse to make additional extensions of credit; (3) reduce your credit line; and/or (4) make specific changes that are set forth in your agreement with us. If you ask, we will give you more specific information concerning when we can take these actions.

Minimum Payment Requirements

You can take advances for two years with our fixed rate home equity. During the draw period and repayment period, payments will be due monthly.

Minimum Payment Example

• Fixed Rate Plan: If you took an advance bringing your loan balance up to $20,000 in month 5 of a 60 month Fixed Rate Home Equity loan and the ANNUAL PERCENTAGE RATE was 6.00%, your loan will automatically re-amortize your monthly payment to the original 60 months, or in this example, $386.68 per month.

Fees and Charges

The credit union may pay certain closing costs for you. If your account is closed or paid off for whatever reason within 12 months of the opening date, you will pay us back the $400 we paid on your behalf to establish the plan.

The annual fee for the Home Equity loan is $15, which is waived for the first year.

Closing cost is $185 on all Home Equity Lines of Credit.

Minimum Draw Requirements

The minimum draw amount is $1.

Tax Deductibility

You should consult a tax advisor regarding the deductibility of interest and charges for the credit line.

Transaction Limitations

There are no maximum draw limitations.