LOC, OPLOC & HELOC

Overdraft Protection Line of Credit

With LES PEOPLE’S OP-LOC, your checks (share drafts) are paid, even if you do not have sufficient funds in your Share Draft (Checking) Account. You may apply for OP-LOCs up to $5,000.00. If you are approved for this service, you will be assessed interests only on the amount that you use. 

 See our Current Rates and Fees.

 

Home Equity Line of Credit Promotion

Home Equity Line of Credit (HELOC) at LES People’s is a variable-rate line of credit based on your home value that you can continuously borrow from and pay back over a set time frame.

Requirements

  • No Annual Fee

  •  No Minimum Credit Score required

  •  Rate adjusts quarterly (not monthly)

  •   No Initial Withdrawal requirements

  • No Closing Costs for loans under $50,000

Loan Details

  • Loan Limit of $150,000

  • Term of 10 Years Withdraw/10 Years Repayment

  • Variable APR

  • Rates never higher than 18% APR

  • Loan to Value: 70%

To apply for our HELOC, please contact our Consumer Loan Manager at (212) 529-8197 ext. 0126 or lending@lespfcu.org. NMLS #737100.

 

Contact one of our lending department if you have additional questions at (212) 529-8197 or by emailing lending@lespfcu.org.

APR = Annual Percentage Rate. The APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable). HELOCs are variable rate products and rates may not exceed the maximum legal limit for Federal credit unions (currently 18%). Rates and terms are subject to change without notice. All offers of credit are subject to credit approval requirements and applicants may be offered credit at higher rates and other terms. Loan to Value (LTV) and/or Combined LTV (CLTV) restrictions apply. Hazard insurance is required on all loans secured by real property (flood insurance may also be required where applicable). Rate shown is based on borrower’s primary residence, a maximum CLTV of 70%, no initial draw required. The maximum amount for HELOC is $150,000. Closing costs will be paid by LESFPCU for loan up to $50,000. Must qualify for membership at LESPFCU at or prior to HELOC account opening.