Spencerport Federal Credit Union
HomeAccount AccessLoan DeskShare AccountsCredit Union InfoContact Us
iBanking Login

First Time Logging In?
If you were already an online banking user prior to our upgrade in Feb, 2017, please use your existing User ID to sign in and follow the instructions for creating an initial password. You will need to review your profile and accept disclosures to continue. If you have never used this service before, you will need to click on ‘Register” on the sign in screen. Follow the registration instructions.

Find us on FaceBook

Home Equity Lines of Credit

Let the equity in your home provide you with the financial help you need for home improvements, college tuition, family vacations, weddings, debt consolidation, and much more!

Your SFCU Home Equity Line of Credit is a revolving line of credit that offers a 10 year draw period. As you pay it back, the funds paid to principal are available to borrow again. Your payments are based on a 15 year repayment period which gives you enough time to manage your debt while still being financially responsible. (Note: A 10 year draw period plus a 15 year repayment schedule can extend up to 25 years).

We look at the current appraised value of your home, less your current mortgage balance and that equals your equity in the home. We allow you to borrow up to 70% of that equity figure. The closing costs are taken care of by us as long as you keep the line of credit open for at least 3 years and borrow at least $10,000 with your initial advance on the line of credit.

Rates are based on the current prime rate as published in the Wall Street Journal and are subject to change quarterly on the first day of January, April, July and October. Your rate above WSJ Prime will depend on your credit scores. WSJ Prime plus 0% is available to those with scores over 700.

A complete description of the product and related disclosures will be provided to you at time of application. Please contact the credit union at 585-352-6890 for an application packet.