A SmartLine Home Equity loan gives members the flexibility to have both a line-of-credit and fixed-rate loan options. Eligible properties include primary residences and owner-occupied second homes located within Michigan.
Once a SmartLine request is approved and finalized, members have the option of utilizing the funds as a variable-rate line of credit, meaning transferring the funds into their checking account to use accordingly. Members may also request to lock a Segment, which fixes a portion of the funds comparable to a loan at a fixed rate. Please note that interest is only charged on funds that have been borrowed. Segments must be at least $2,500 each.
After the first segment, there is $25 fee for each segment lock or unlock. To lock a Segment, contact the Credit Union by selecting the segment lock option within ComputerLine, the mobile app, by visiting a branch, calling 517-333-2424, or through the Message Center.
