Senate Cents: A Financial Wellness Blog

Flexible. Accessible. Ready when you are.

If you’ve built up equity in your home, a Home Equity Line of Credit (HELOC) can help you make the most of it—without draining your savings or relying on high-interest credit cards. Whether you’re planning a big project or want peace of mind for life’s surprises, a HELOC offers flexible access to funds when you need them most.

At USSFCU, we offer two unique HELOC options tailored to your needs: the Classic HELOC and the Smart Line HELOC. Here’s how you can put them to good use.

1. Renovate and Refresh Your Home

Whether you’re dreaming of a kitchen remodel or just need to replace that aging HVAC system, a HELOC can help you get it done—on your timeline.

Why choose a HELOC for home improvements?

• Access funds as needed during each stage of the project
• Only pay interest on what you borrow
• Flexibility if costs go over (or under!) your initial estimate

USSFCU Classic HELOC: Perfect for longer-term or evolving renovations with interest-only payments during the draw period.
USSFCU Smart Line HELOC: Ideal for short-term projects with a built-in repayment structure that helps you pay down principal sooner.

2. Consolidate High-Interest Debt

Paying off high-interest debt—like credit cards or personal loans—with a HELOC can be a smart financial move. You could save significantly on interest and streamline your monthly payments.

Use your HELOC to:

• Pay off credit cards
• Refinance personal or auto loans
• Combine payments into one manageable monthly amount

And with USSFCU’s competitive HELOC rates, you’ll often pay less interest over time—helping you take control of your financial future.

3. Prepare for the Unexpected

Life can throw curveballs—medical bills, emergency repairs, temporary loss of income. A HELOC gives you access to a line of credit you can tap into when you need it most.

Think of it as your financial safety net for:

• Medical expenses
• Major car or appliance repairs
• Family emergencies
• Temporary cash flow gaps

Having a HELOC in place means you’re ready, even when the unexpected happens.

4. Invest in Yourself (or Your Loved Ones)

Whether you’re going back to school, supporting a family member’s education, or launching a new business, a HELOC offers the flexibility to fund meaningful goals without disrupting your financial foundation.

Consider using your HELOC to:

• Pay for continuing education
• Help a child with tuition or school supplies
• Fund a new venture or side hustle

The Smart Line HELOC is especially helpful for these planned-but-variable costs, giving you structure and flexibility in one.

5. Cover Big Expenses with a Smart Strategy

Some purchases are planned—and big. Whether you're replacing outdated appliances, upgrading your car, or funding a major milestone like a child’s wedding, a HELOC can be a responsible way to manage large expenses while keeping your interest costs low.

Consider using your HELOC for:

• Wedding or family celebration expenses
• Replacing or upgrading a vehicle
• Essential home furnishings or technology upgrades
• Paying off large insurance premiums or taxes

Because you can borrow only what you need—and repay as you go—a HELOC gives you flexibility without the pressure of upfront lump sums.

Tip: If you're managing a one-time major expense with a clear repayment plan, the Smart Line HELOC offers the perfect balance of access and structure.

Classic HELOC vs. Smart Line HELOC: What’s the Difference?

Ready to Put Your Equity to Work?

Tapping into your home equity with a HELOC is a smart, flexible way to fund life’s goals—without dipping into savings or relying on credit cards.

At USSFCU, we’ll walk you through every step and help you find the right solution.

Explore your options or apply at ussfcu.org/homeequity
Need help choosing the right HELOC? Contact us today.

Article content is provided for informational purposes only.

APR = Annual Percentage Rate. All loans subject to credit approval. Rates are based on creditworthiness, income and debts. Not all applicants will qualify for the lowest rate. Rates subject to change. For a listing of current rates visit ussfcu.org/rates.

Home equity line of credit (HELOC) variable interest rate subject to change quarterly. Home equity line of credit (HELOC) variable interest rate subject to change quarterly. HELOCs are variable-rate lines. Rates are currently as low as 7.50% APR as of 04/01/2025 and subject to change. Variable rates and repayment terms up to 240 months. Rate equal to the WSJ Prime Rate in effect on the last day of each calendar quarter subject to a floor of 3.00%. Maximum APR is 18.00%. Rates will not adjust until the 1st day of the billing cycle on the 15th of that month. FEES AND CHARGES: To open or maintain a home equity line of credit, you must pay certain fees to third parties. These fees generally range from $500.00 to $1,300.00, but vary based on the loan amount and state. An itemization of the fees is available upon request by calling 800.374.2758. LATE PAYMENT FEE: If your payment is more than 10 days late, you will be charged 5.00% of the payment due. For more information on lending late fees, click here or call 800.374.2758. PROPERTY INSURANCE: You must carry insurance on the property that secures this plan. HELOC rates adjust on the first day of the billing cycle following the 15th of the month.

Please Note: We do not offer Home Equity products in Texas, Alaska, Hawaii & US Territories. We do not offer equity loans on rental or investment properties.