Home Equity Line of Credit

Equity is a valuable asset that can be used to secure a home equity line of credit (HELOC) in lieu of a traditional term loan. Once approved, use the funds whenever you need them with no need to reapply, and you only pay interest on what you use. It's like a low-interest credit card that might even be tax deductible.

Summary
  • One-time only application
  • Borrow as needed without reapplying
  • Interest may be tax deductible*
  • Utilizes home equity for a favorable rate
  • Quick, local decision making
  • Use funds for almost any need (home improvements, debt consolidation, vacation, medical, etc.)

*Consult your tax advisor

S.A.F.E. Act

Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act)

In order to comply with the National Credit Union Administration's adoption of the S.A.F.E. Act, Ocean Communities Federal Credit Union presents the following mortgage loan originator information for CU staff who are registered with the National Mortgage Licensing System (NMLS):

NMLS ID # LAST NAME FIRST NAME MIDDLE NAME

518294 BASILE MURIEL D

531680 BELL SAMUEL I

167843* BERGERON ERIK RICHARD

518296 BLAIS MICHELLE M

556470 COTE ALEDA B

518285 GALLUZZO PETER J

556471 GRAY MINDY N

518282 KNOX DENIS

518293 LEBLANC BETH A

518283 PICARD JOCELYN L

518292 RICHE JEANNE L

518295 RUMO MICHAEL J

531679 SICO RUTH E

* Employed by CUSO Mortgage Corporation in Hampden, ME

In order to provide homebuyers and the general public with greater information concerning the companies and professionals in the mortgage industry and in fulfillment of the federal S.A.F.E. Mortgage Licensing Act, the Nationwide Mortgage Licensing System and Registry (NMLS) has launched a website called NMLS Consumer Access. NMLS Consumer Access is a fully searchable website that allows the public to view information concerning Ocean Communities Federal Credit Union's Mortgage Loan Originators registered through NMLS. To visit the Consumer Site please go to http://www.nmlsconsumeraccess.org/