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Every financial decision you make has benefits and drawbacks. It’s important to understand the pros and cons of home equity loans in Fleetwood, PA, and the other options. Bellco Federal Credit Union can help!

About Bellco Federal Credit Union

Originally known as the Bell Telephone Credit Union, Bellco FCU, a member-owned, not-for-profit federal credit union, opened its doors in 1938 and continues to provide unique financial products and services to individuals and small businesses in Berks County.

Like banks, credit unions accept deposits, make loans and provide a wide variety of other financial services. But as member-owned and cooperative institutions, we provide a safe place to save and borrow at reasonable rates with exceptional customer service.

Membership in Bellco FCU is open to people who live, work, worship, or attend school in Berks County, PA. Simply open a Member Savings account with as little as $5, and set up your membership in a few simple steps.

Once you are a member, your immediate family members will be eligible to join too and take advantage of competitive rates for mortgages, personal loans, credit cards, and the many other services we offer.



What is a Home Equity Loan?

home equity loan is a second mortgage on your primary residence. It allows you to borrow based on the appraised value of your home, minus the amount you still owe on your mortgage.

This loan is perfect for big-ticket purchases, such as home improvements, dream vacations, weddings, education expenses, debt consolidations, and more. It can help you fund large purchases without touching your savings.

Bellco FCU’s home equity loans offer flexible terms up to 15 years. The benefits include:

  • Competitive rates for several short-term or one-time needs;
  • Funds are provided in a single lump sum;
  • You’ll make fixed monthly payments throughout the loan term;
  • Repayment terms can be customized to fit your budget and lifestyle;
  • Local, Pennsylvania decision-making and processing;
  • Friendly service from start to finish;
  • Optional Bellco Loan Protection available.

Even when you still owe on your mortgage, you don’t have to sacrifice your dreams. The equity you’ve built up in your home may be the answer. Home equity loans can provide the financial freedom you need!

Other Home Equity Options

There is an alternative to the conventional home equity loan that may provide you a greater level of flexibility. Called a Home Equity Line of Credit (or HELOC), it works somewhat like a credit card and can be used when you need it, such as for financing an ongoing home-improvement project, paying ongoing tuition, or paying for recurring expenses.

The interest rate on the HELOC is adjustable (not fixed), which means it may change over the term of the loan.  During what is called a “draw period,” you have the ability to withdraw funds from the line of credit whenever you need them. As you pay off the principal, your credit revolves, and you can use the funds again and again throughout the duration of the draw period.

If you live or work in Fleetwood, PA and need more information about home equity loans, get in touch with Bellco FCU to take advantage of this valuable financing tool for home repairs, renovations and other large expenses.