Lines of Credit

If you’re looking for a flexible revolving line-of-credit, Eastern Michigan University Credit Union has a solution for you. Whether it’s for auto expenses, emergencies, school, or whatever you need, we have a variety of loan options to choose from.

Visa Home Equity

Visa Gold Home Equity Line of Credit

Enjoy the advantages of an equity line of credit and the convenience of a Visa credit card with the Visa Gold Home Equity Line of Credit*. Make home improvements, pay for college tuition, consolidate high interest loans or debts into one affordable lower interest payment or to make any other major purchase. Michigan homeowners may be eligible to use up to 95% of the equity in your home to secure a line of credit.

Visa Gold Advantages
Annual Fee

None.

Pay Less Interest

The interest rate on your Visa Gold Home Equity Line of Credit is typically lower than most credit cards. Interest rate is adjustable based on the Federal Reserve Prime rate.

Grace Period for Purchases

25 Days

Credit Line

$10,000 to $75,000 with a 10-year term is available to fit your borrowing needs**.

Tax Advantages Because this loan is tied to your home, you may be able to deduct the interest you pay. Consult your tax advisor regarding deductibility.
Worldwide Acceptance Accepted at more than 20 million locations worldwide.
Convenience Paying with the Visa Gold Home Equity Line of Credit Card is faster and easier than writing a check. All your transactions appear on your monthly statement.
Security With Visa’s Zero Liability policy, your liability for unauthorized transactions is $0.

To apply for your Visa Gold Home Equity Line of Credit, call 734-662-8200 or 800-968-8628 ext. 2150, to speak to one of our home equity loan experts.

Special Notice: If you use a Visa credit card (or check card) for a signature based transaction in a foreign country, Visa's 1% international service fee to convert the foreign transaction into US dollars will now appear as a separate transaction on your statement.

APR may vary after the account is opened. Rates are subject to change without notice. Credit subject to approval; normal credit standards apply. Property insurance is required. A property valuation fee ($16-$500) may be required. A $5 membership fee applies to new members.  

Loan amount will be based on the borrower's credit worthiness and available equity. There is a 10-year term. If the account is not refinanced, a balloon payment will be required at the end of the term.

Rates are subject to change without notice. Credit subject to approval; normal credit standards apply.
* Property insurance is required. **There is a 10-year term. If the account is not refinanced, a balloon payment will be required.

EMU Financial FRC Calculators
To report your Visa credit/debit card lost/stolen after hours call: 1-800-991-4965
A division of the University of Michigan Credit Union
Equal Housing Opportunity National Credit Union Administration
Federally Insured by NCUA.
734-487-1033