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Whitefish Credit Union Puts Homes to Work with HELOC

06-06-2011 08:31 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Whitefish Credit Union

While it may not grab a briefcase and head to the office every morning, a home’s equity can go to work for its owner in other ways, with a little help from the Whitefish Credit Union (WCU).

WCU is currently offering a Home Equity Line of Credit (HELOC) loan to qualified members of all six branches. A HELOC loan lets homeowners borrow against their home’s existing equity, and with interest rates currently at historic lows, there’s never been a better time for WCU members to take advantage of it, according to Sue Schenck, the WCU’s Business Development Director.

“Spring has finally come back to Montana, and we think this is a great way for our members to freshen up their homes, finances or invest in their lifestyles,” said Schenck. “They can use a HELOC loan to upgrade their home, pursue higher education, take a dream vacation, or do anything else they’d normally borrow money for.”

Schenck explained that HELOC loans often have substantially lower interest rates than normal loans, making them an attractive option for current homeowners in the market for credit. In addition, the interest that members pay on mortgage loans may be tax deductible, while the interest on other types of loans is usually not.

To learn more about a HELOC loan through Whitefish Credit Union, please visit their website at whitefishcu.com, or call (406) 862-3525.

About the Whitefish Credit Union:
Whitefish Credit Union is a respected leader in the financial services industry of Montana. State chartered in 1934, it has gone on to become the largest credit union in the state with more than $1 billion in assets. Today, the Whitefish Credit Union manages six branches in Northwest Montana, which proudly serve the financial cooperative’s more than 50,000 members.

It’s important to know a little something of our history to get a true sense of what Whitefish Credit Union carries with it into the future. Whitefish Credit Union was state chartered in 1934, in the midst of the Great Depression, when 5 Whitefish area railroad employees contributed $5 each. Yep - total assets were $25. That's a pretty modest beginning. Since then Whitefish Credit Union has become Montana's largest Credit Union with over $1 billion in assets. A solid foundation was established by those who came before us and a financially sound and fiscally conservative approach has served all of us very well. Whitefish Credit Union members benefit from some of the highest dividend rates in the nation and lending money to our friends and neighbors is one of our primary reasons for operating. We love to do it, and we do it well.

300 Baker Avenue, Whitefish, MT 59937

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