Home Equity Loans

SECNY is a proud lender to homeowners in Central New York. We are your local partner!

Our mortgage department is comprised of a team of professional, knowledgeable individuals. Our primary focus is on the personalized service we provide our members. With our great rates, customized lending solutions and quick processing time, you will be sure to love us and the all the services we have to offer, now and in the future! Automatic payments, payroll deduction and direct deposit are just a few of the services we offer to our members.

What is the difference between a Fixed Rate Home Equity Loan and a Home Equity Line of Credit?

Both are based on the equity you have built up in your home. SECNY FCU will lend up to 90% of the appraised value of your home, subtracting any existing liens being kept. Consolidate bills, make home improvements, finance your child's education and more! Life and Disability Insurance is available upon request.

Fixed Rate Home Equity Loan

With our Fixed Rate Home Equity Loan, you receive the money you are borrowing all at once and repay it over a set amount of time, at a fixed interest rate. There are no draws available with this loan type. This is a great option if you are considering consolidating debt, paying for education expenses or home improvements such as windows, roofing or driveway.

Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit (HELOC) is a variable rate loan that allows you to take draws on the line of credit as you need it. The payments are based on the principal and interest of the amount used. This is the perfect loan type for home improvements such as remodeling the interior parts of your home because it gives you the flexibility use it as you go and pay only on what is used. Refer to the Home Equity Early Disclosures for details. 

Important Info about HELOCs Home Equity Early Disclosures

Ready to apply?

All eligible borrowers will need to become  a member of the credit union and open their membership account prior to or at time of application. View membership eligibility. 

Become a SECNY Federal Credit Union Member

Please see the checklist below for a list of items needed to process Home Equity Loans and HELOCs.

Home Equity Checklist View Rates

Online Home Equity Application

Home Improvement Loan

Designed for a variety of purposes such as energy conservation and various home improvement projects. Rates change periodically. Contact your local branch for more information. Life and Disability Insurance is available upon request for Home Improvement Loans.

Apply Online View Rates


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or visit one of our branch locations to open an account today!