The new lending suite introduces the HELOC 100, which offers a 10-year draw period followed by a 15-year repayment term, and the HELN 100, a 30-year fixed-rate second mortgage. Both options allow for up to 100% combined loan-to-value for qualified borrowers, with financing limits capped at $250,000. According to Vice President of Lending Operations Chris Caputo, the dual approach allows members to choose between revolving credit and fixed-rate structures depending on their specific financial requirements.
In section Releases
PremierOne Credit Union Adds Home Equity and High-Yield Savings Options
San Jose-based PremierOne Credit Union is expanding its consumer portfolio with two high-leverage home equity products and a tiered money market account. The move, aimed at providing members with greater borrowing flexibility and improved savings yields, arrives as the institution looks to bolster its competitive standing in California.
Simultaneously, the credit union launched the Premier Money Market Plus Account. This product targets individuals depositing new funds, utilizing a tiered dividend structure to reward higher balances. Rick Tresler, Vice President of Member Experience, noted that the account is intended to help members maximize returns on liquid savings. These additions follow a broader strategy to leverage the credit union’s $650 million asset base to offer more personalized financial tools across its nine-county service area in California.
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