Home Equity Loans
Convert the equity in your home into cash with a Member's Choice Home Equity Loan from Arkansas Federal Credit Union.
If you are a homeowner in Arkansas or Oklahoma and have lived there a few years, you have built up equity. Unlocking that equity with an Arkansas Federal Home Equity Loan is one of the best ways to finance just about any consumer need. At Arkansas Federal, members have More Options and More Choices when it comes to Home Equity Loans.
Often, the interest on a home equity loan is tax deductible. Always consult your tax advisor about the deductibility of interest on any home equity loan.
Use the Equity in Your Home for Easy Financing
Affordable and hassle-free, Arkansas Federal's Home Equity Loans feature an array of attractive borrower benefits that are meant to meet each members’ financial need. Arkansas Federal’s Home Equity loans offer:
- No points, no closing costs, & no appraisal fee
- No origination fee & no annual fee
- Competitive interest rates
- Flexible, consumer-friendly terms
Check our Home Equity Loan rates.
Home Equity Line of Credit (HELOC)
Our Home Equity Line of Credit (HELOC) give you the ability to access your loan in any amount you choose, up to your loan limit, using our VISA® Platinum HELOC Credit Card. Simply use your credit card to access your line of credit and begin paying your monthly payment when your monthly statement arrives.
Arkansas Federal Is an Equal Housing Lender
Arkansas Federal Credit Union does business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. Whether you are a long-term member or you have recently joined us, you are eligible for an Arkansas Federal loan simply by meeting the following criteria:
- Ability to repay the loan
- Acceptable credit history
- Of good character
- Of legal age
- Collateral of sufficient value
Interest Rates
Arkansas Federal Credit Union offers competitive loan interest rates on Home Equity Loans that are fixed. Interest rates for fixed home equity loans are set by your Board of Directors.
Loans are based on simple interest on the declining balance of your loan. In this way, you only pay interest for the period you use the money and there is no penalty for premature loan pay-off. Since we have no stockholders, our profits are returned to our members in the form of higher dividends on deposits and lower interest rates on loans!
Check our current rates, or dial 501-982-1000 or toll free at 800-456-3000.
Payments
Extra payments can be made on your loan at any time. You can even pay off your loan early without the penalty charged by some financial institutions.
Loan payments can be made effortlessly by:
- Direct Deposit or Payroll Deduction
- Automatic Transfer
- Mailing your payment to the credit union
- Visiting a teller station at any Arkansas Federal branch
- Transferring funds via our 24-Hour Touch Tone Teller
- Online Account Access
- Arkansas Federal ATM
Member to Member Account Transfers
Arkansas Federal Credit Union recognizes the fact that members need the ability to transfer funds from accounts under one member number to accounts under another member number.
With member-to-member transfer that is now possible! If you are listed jointly on ANY AFCU membership, you may now transfer money from one member number to another through Account Access. First, you will need to contact the Call Center and request that member to member transfers be enabled on any accounts that you are listed jointly. Once this has been enabled, you will login to Account Access and select the Account Transfers tab. Select what membership/account you would like to transfer money FROM. Then select the membership/account that you would like to transfer money TO. AFCU members may also schedule recurring transfers through Account Access with the Scheduled Account Transfers tab.
To request member-to-member transfer, simply contact our Call Center at 501.982.1000 in central Arkansas or 800.456.3000 outside central Arkansas and speak with one of our Call Center Representatives during normal business hours.
Update Insurance Information
From time to time Arkansas Federal will send out letters requesting that members verify their insurance information, if you have received such a letter from AFCU, click here to update that information.
Debt Cancellation – Prepare for the Unexpected
Many events in life come unexpectedly; with AFCU’s debt cancellation you can protect your family from the unexpected. By purchasing AFCU’s low-cost debt cancellation protection, you would have the peace of mind that your family would be covered in the event that you and/or your co-borrower were to become unemployed, disabled or if an unexpected death were to occur.
Debt cancellation works by cancelling some or all of your debt when a protected event does occur. This flexible protection plan will allow you and/or your co-borrower to choose from coverages that best fit your lifestyle.
Fees for debt cancellation protection are calculated and applied monthly to the decreasing balance of your loan. You only pay for what you need. Protect yourself against that unforeseen event.
What Debt Cancellation does for You:
- Makes your loan payments
- Protects your credit rating
- Protects you if your spouse dies
- Prevents late fees
- Prevents repossessions of property
For additional information regarding AFCU’s debt cancellation contact a Call Center representative at 501-982-1000 or 800-456-3000 or by visiting one of our convenient branch locations.
