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Introductory rates as low as 7.99% APR* for the first 12 months(1). Home Equity Line of Credit. LEARN MORE. Copyright 2024 Wheelhouse Credit Union. Equal Housing Opportunity.

* APR = Annual Percentage Rate.
Rates are effective as of 09/01/2024 and are subject to change without notice. Rates are based on creditworthiness. Introductory rate is fixed for the first 12 months.

¹ Wheelhouse® Credit Union’s primary area of service is Southern California which includes San Diego County. Your home must be owner occupied and located in our service area. Introductory fixed APR is based on a combined loan-to-value (CLTV) and will remain in effect for 12 months from the date the Home Equity Line of Credit (HELOC) Agreement and Disclosure Statement was signed. Thereafter, the introductory APR will revert to a variable APR and will be adjusted on the first day of each billing cycle based on the WSJ Prime Rate + a margin up to 3.00% depending on loan parameters. As of 07/27/2023, the APR ranges from 9.50% – 11.50% APR. The maximum APR that can be applied is 18.00% and the minimum is 3.99%. Maximum credit limit subject to CLTV guidelines. Minimum credit line available is $25,000. You can obtain advances of credit for 10-years (Draw Period); the Draw Period will be followed by a Repayment Period as outlined in your HELOC Agreement. Property insurance is required. All loans are subject to credit approval, income verification, and satisfactory appraisal and collateral. Rates, terms, and fees are subject to change without notice. Please consult a tax advisor regarding the deductibility of interest. Download this PDF guide to learn more about What You Should Know About Home Equity Lines of Credit.
Draw Period: You can obtain advances of credit for 10-years (Draw Period). During the Draw Period, your minimum payment will equal the total of (a) the periodic finance charges, and other fees, charges and costs including without limitation, any other expenses or advances incurred by us under the Security Instrument and (b) accrued but unpaid interest for prior Billing Cycles. The Draw Period will be followed by a Repayment Period as outlined in your HELOC Agreement. During the Repayment Period, if any, your minimum payment will equal the fraction as outlined in your HELOC Agreement of your unpaid Account Balance at the end of the Draw Period, plus all periodic finance charges, and other fees, charges, and costs. All payments will be due monthly. The minimum payments may not be sufficient to fully repay the principal that is outstanding on your HELOC. If they are not, you will be required to pay the entire outstanding balance in a single payment and a balloon payment may result. Your minimum payments will not repay the principal that is outstanding on your line. You will be required to pay the entire outstanding balance in a single payment.

Minimum Payment Example: The information provided is based on an initial $10,000 advance at funding on an existing single-family home used as a primary residence. The assumed credit score is 720 with an assumed CLTV of 75% and a credit limit of $100,000.

During the 10-Year Draw Period
• 12 payments of $66.58 at an initial interest rate of 7.99%.
• 108 payments of $79.16 at a variable interest rate of 9.50%.

During the 20-Year Repayment Period
• 239 payments of $93.27 at a variable interest rate of 9.50%.
• 1 payment of $89.25 at a variable interest rate of 9.50%.

Other terms and conditions may apply. Equal Housing Opportunity. Membership required.

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The Dos and Don’ts of Cyber Security

Posted on July 20, 2022July 7, 2023 by Manix Phayvanh

man on cell phone

Were you a victim of fraud in 2021? According to a new report produced by Javelin Strategy & Research and cosponsored by AARP, you’re one of the 42 million Americans who were, costing consumers $52 billion in total losses. With so many more people relying on the internet due to the pandemic, criminals had plenty of opportunities to harvest their victims’ personal identifiable information.

Can we eliminate financial fraud in America? The first steps start with you. There are dos and don’ts to cyber security that everyone should be aware of to help protect themselves and their personal information from scammers.

Do…

Monitor your accounts daily for suspicious activity
Enable two-factor identification when creating logins
Create strong passwords and use a password manager – see our blog post on strong password tips here
Keep your devices secure by installing the latest updates
Use secure Wi-Fi connections

Don’t…

DON’T give personal information to unsolicited callers. Wheelhouse Credit Union employees will NEVER ask you for Digital Banking credentials, passcodes, etc. When in doubt, hang up immediately and call the Member Services number on the back of your debit/credit card.
DON’T click on links that you don’t trust or that are from unknown sources. Quick tip: hover your mouse over a link without clicking it to see where the link will take you.
DON’T respond to voicemails or phone calls asking you to verify account information.
DON’T forget to logout of your accounts.

As scammers continue to find new ways to scam, fraud will always be on the rise. We must take the initiative to protect ourselves in the technology and internet-centered society we live in today. Being overly cautious is the first step – keeping your accounts and passwords secure comes second.

You are leaving Wheelhouse® Credit Union’s website. Links that may be accessed via this site are for the convenience of informational purposes only. Any products and services accessed through this link are not provided or guaranteed by Wheelhouse® Credit Union. The site you are about to visit may have a privacy policy that is different than Wheelhouse® Credit Union’s. Please review their privacy policy. Wheelhouse® Credit Union does not endorse the content contained in these sites, nor the organizations publishing those sites, and hereby disclaims any responsibility for such content.