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 If, for example, fees are incurred for the appraisal, credit report, or flood determination, and the application is rescinded for any reason, you will be responsible for payment of such fees.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.

We are growing!

Imagine the possibilities. At Midwest Community, we are well-known for advancing our employees and promoting from within at all levels of the organization. Take the first step in starting your career and grow with us!

Float Member Service Representatives – may have days scheduled at any location (Defiance, Bryan, Napoleon). Computer literacy is required and cash handling or banking experience is preferred. Please see the job overview for a list of duties.

Starting pay is $17.44 an hour
$19.62 an hour after 180 days of service
$21.79 an hour after 1 year of service

Resumes may be submitted to Andrew Scharlacken at ascharlacken@midcomm.org.

All are welcome. Midwest Community Federal Credit Union is an Equal Opportunity Employer.

We are growing!

Float Member Service Representatives may have days scheduled at any location (Defiance, Bryan, Napoleon). Computer literacy is required and cash handling or banking experience is preferred.

Starting pay is $17.44 an hour
$19.62 an hour after 180 days of service
$21.79 an hour after 1 year of service

Please see the job overview for a list of duties. Resumes may be submitted to Andrew Scharlacken at ascharlacken@midcomm.org and are kept on file for one year.

All are welcome. Midwest Community Federal Credit Union is an Equal Opportunity Employer.

Investment Representative

The primary purpose of this position is to assist Midwest Community Federal Credit Union by delivering outstanding service to both internal and external members. A key element of excellent service is to identify the financial needs of each member and recommend an appropriate credit union solution. In addition, receives members in person and by telephone. Helps Member Investors reach financial goals utilizing our consultative sales process. In addition, responsible for ensuring that outstanding service is delivered to both internal and external members. A key component of this service is to provide proactive guidance on investment solutions via a needs-based consultative selling approach to both current and prospective Members who have placed an inbound call or referral to the Investment Representative.

For more details, please contact lfrysinger@midcomm.org.

Midwest Community Federal Credit Union is an Equal Opportunity Employer.

Member Service Representative

Midwest Community Federal Credit Union is looking for a Member Service Representative to process transactions, accurately perform end of day balancing procedures, follow company policies and utilize the core data processing system and various software applications, including electronic banking services. We are seeking candidates who are punctual, honest, friendly, and have outstanding communication skills. Please see the job description for a full list of duties. Resumes may be submitted to Sondra Manon at smanon@midcomm.org.

Midwest Community Federal Credit Union is an Equal Opportunity Employer.

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Home Equity Disclosure

Home Equity Line of Credit

Early Disclosure

Availability of Terms

Security Interest

Possible Actions

Minimum Payment Requirements

Fees and Charges

Minimum Draw Requirements

Tax Deductibility

Transaction Limitations

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We are growing!

We are growing!

Investment Representative

Member Service Representative

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