Texas Equity

In 2003 Texas voters approved Proposition 16, making homestead Home Equity Lines of Credit (HELOC) available to Texas home owners.

The HELOC is a flexible line of credit is ideal for covering ongoing expenses such as home improvements, education or medical costs, or for consolidating high-interest bills. It's a smart way to manage your finances because it offers

#Savings - Interest is potentially tax-deductible** and rates are lower than most other types of revolving credit.

#Control - Use what you need when you need it without reapplying.

#Flexibility - During the draw period, and you have the option to pay as much as you want toward the principle balance at any time without penalty, or make an interest only payment. You can use your equity to gain greater control over your finances. We provide the knowledge, the expert advice, and the products so you can make informed financial decisions.

You can apply by calling a Member Services Representative at 510-627-5000 or 800-232-8101 or by visiting your local CFCU branch.

Source : http://www.chevronfcu.org/asp/services/service_4_3.asp