Put your home's equity to work
with a Home Equity Line of Credit from Central One Federal Credit Union.

Best Uses of Your Home Equity Line
A home equity line of credit (HELOC) is an open-ended line of credit in which your home serves as collateral. Similar to a credit card, you can borrow what you need, as you need it, until you reach your credit limit. Our rates adjust only ONCE ANNUALLY, no matter how many times the Prime Rate may change!

100% Loan to Value Home Equity Line of Credit (HELOC)
Just like our standard home equity line of credit (HELOC), the 100% Loan to Value Home Equity Line of Credit is an open-ended line of credit in which your primary residence, single family home, duplex or condo, serves as collateral. Borrow what you need for home improvement purposes. Our rates adjust only ONCE ANNUALLY, no matter how many times the Prime Rate may change!

Investment Interest Only HELOC
Just like our standard home equity line of credit (HELOC), an Investment Interest Only HELOC is an open-ended line of credit in which your investment property, 1-4 family home or condo, serves as collateral. Borrow what you need, as you need it, until you reach your credit limit. Our rates adjust only ONCE ANNUALLY, no matter how many times the Prime Rate may change!
Central One borrowers may qualify for loss of life, disability and unemployment security protection on their Central One loans.
Our Member Protect program provides relief in the event that you lose your job due to no fault of your own, become disabled due to injury or illness, or pass away. This is a voluntary loan-payment protection product that helps you get relief from the financial burden of delinquency, default, or foreclosure if a protected life event unexpectedly happens to you.
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Latest Rates
All Rates24 Month
as low as 5.12 % APR36 Month
as low as 5.62 % APR48 Month
as low as 5.74 % APRRates as low as 5.12% APR**
Monthly Payment
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Best Uses of Your Home Equity Line
A home equity line of credit (HELOC) is an open-ended line of credit in which your home serves as collateral. Similar to a credit card, you can borrow what you need, as you need it, until you reach your credit limit. Our rates adjust only ONCE ANNUALLY, no matter how many times the Prime Rate may change!
Best Uses
- Consolidate Debt: Pay off high-interest credit card balances, student loans or other expenses.
- Pay for Home Improvements: Use the funds to increase your home’s value and your living experience.
- Child’s Education Expenses: Reduce your child’s student loan burden with a lower rate HELOC.
- Financial Protection: Sleep soundly knowing you have access to cash when you need it.
Benefits
- Borrow up to 80% of the appraised value of your home or 70% of the tax-assessment value (Minimum line amount of $7,500)*
- Only pay interest on the funds you borrow
- Variable interest rate starting as low as Prime minus 1%*
- 10 year draw period, followed by a 20 year repayment period
- Rate only adjusts once per year, on the 15th of the month in which the line was opened, even if Prime goes up!*
- Interest may be tax deductible (consult your tax advisor)
- No closing costs for properties within Worcester County, (except appraisal and title search if required)**
- We offer affordable Credit Disability Protection that covers you in case of involuntary unemployment, disability or death. Only pay for the protection on funds you borrow, not on the line itself.
100% Loan to Value Home Equity Line of Credit (HELOC)
Just like our standard home equity line of credit (HELOC), the 100% Loan to Value Home Equity Line of Credit is an open-ended line of credit in which your primary residence, single family home, duplex or condo, serves as collateral. Borrow what you need for home improvement purposes. Our rates adjust only ONCE ANNUALLY, no matter how many times the Prime Rate may change!
Best Use
- Pay for Home Improvements: Use the funds to increase your primary home’s value and living experience.
Benefits
- Borrow up to 100% of the appraised or assessed value of your home*
- No application fee and no points
- Interest may be tax deductible (consult your tax advisor)
- No closing costs for properties within Worcester County, except appraisals**
Investment Interest Only HELOC
Just like our standard home equity line of credit (HELOC), an Investment Interest Only HELOC is an open-ended line of credit in which your investment property, 1-4 family home or condo, serves as collateral. Borrow what you need, as you need it, until you reach your credit limit. Our rates adjust only ONCE ANNUALLY, no matter how many times the Prime Rate may change!
Best Uses
- Pay for Home Improvements: Use the funds to increase your investment home’s value.
- Consolidate Debt: Pay off high-interest credit card balances, student loans or other expenses.
- Financial Protection: Sleep soundly knowing you have access to cash when you need it.
Benefits
- Borrow up to 80% of the appraised value of your home or 70% of the tax-assessment value (Minimum line amount of $7,500)2
- Only pay interest on the funds you borrow
- Variable interest rate starting as low as Prime plus 1%1
- 5 year draw period, followed by a 10-year repayment period
- Rate only adjusts once per year, on the 15th of the month in which the line was opened, even if Prime goes up!1
- Interest may be tax deductible (consult your tax advisor)
- We offer affordable Credit Disability Protection that covers you in case of involuntary unemployment, disability or death. Only pay for the protection on funds you borrow, not on the line itself.
Rates
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Example rates
Term | APR* |
---|---|
36 months |
3.50% |
48 months |
3.75% |
60 months |
4.00% |
72 months |
4.25% |
Rates effective as of: April 3, 2025
APR = Annual Percentage Rate
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Rates effective as of: April 3, 2025
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Ice Cream Day Dates
All Ice Cream Day events are from 4:00 – 6:00 pm.
June 12th- Auburn Branch, 63 Southbridge Street
July 24th- Westborough Branch, 40 South Street
July 31st- Milford Branch, 82 Prospect Street
August 7th- Northborough Branch, 148 Main Street
August 28th- Shrewsbury Branch, 714 Main Street
August 15th- Worcester (Saint Vincent Hospital) Branch – We’ll be serving Goody’s Kettle Corn at the branch all day!
Food Truck Dates
All Food Truck Events are from 11:00 am – 1:00 pm.
July 12th- Westborough Branch, 40 South Street: Tacoborough Food Truck
August 9th- Shrewsbury Branch, 714 Main Street: Savage Wraps Food Truck
August 14th- Worcester (Saint Vincent Hospital) Branch – Garden Fresh sandwiches in-branch
August 23rd- Auburn Branch, 63 Southbridge Street: Bird’s Nest Panini Food Truck
September 6th- Northborough Branch, 148 Main Street: Tacoborough Food Truck
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