Now offering an interest-only option.

  • IO-HELOCs are best for funding big plans in the short-term, while budgeting for the future
  • All of the benefits of a regular HELOC with lower, interest-only payments
  • No annual fee
  • No minimum draw requirements

A Home Equity Line of Credit is money for a new addition.
Or college tuition.

  • Variable interest rate, starting as low as the prime rate*
  • Money available as a revolving line of credit
  • Draw on money for up to 10 years, repay over 15 years
  • Access money by writing checks or transferring to your checking account through Online Banking
  • No closing costs or application fees

Applying for a HELOC or IO-HELOC at Michigan Schools and Government Credit Union is a quick and easy process. We can hold the closing at your home, your place of business or wherever is most convenient for you. Another advantage is that interest paid on the loan may be tax deductible. Consult your tax advisor for more details.

* Rates may vary, based on term, credit history, collateral, and whether this loan will serve as a first or second lien. Variable rates are tied to market index (or prime rate), not to exceed 18.0% APR. Third party fees paid by MSGCU to be reimbursed up to $500 if line of credit is closed within 36 months of loan opening. Michigan properties only.