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Home Equity

Line of Credit

Our secret weapon for financial freedom

A financial adventure with White River Credit Union’s Home Equity Line of Credit (HELOC) awaits you. Think of your home as a treasure chest of opportunities with a magic key that opens doors to your dreams. Whether you dream of a kitchen fit for a master chef, consolidating pesky debts into one manageable payment, or embarking on an investment venture, HELOC could be your secret weapon. Hello, possibilities!

How does a HELOC work?

White River Credit Union offers Home Equity Lines of Credit loans as a first or second lien. HELOCS and the interest you pay may be tax-deductible, so be sure to consult your tax advisor. This is an interest-only payment for 5 years. If you’re on the fence if HELOC is right for you, here are some “pros” to consider:

  • Flexible access to funds
  • Lower interest rates
  • Tax deductible interest
  • Versatile use of funds
  • Increased property value (if used for home renovations)

Frequently asked questions (FAQs)

Why choose a HELOC?

There are several reasons why a Home Equity Line of Credit can be a beneficial financial tool. Ultimately, choosing a HELOC depends on your specific financial goals and circumstances. Some perks of HELOCs include flexibility, lower interest rates, utilizing your home’s equity, and potential tax benefits.

Home equity loan or HELOC?

When deciding between a home equity loan and a HELOC, it’s important to understand the key differences and consider your specific financial needs.

Home Equity Loan:

  • A home equity loan provides a lump sum of money upfront, which is repaid over a fixed term with a fixed interest rate.
  • It is suitable for one-time expenses or projects with a defined cost.
  • The interest rate on a home equity loan is typically higher than a first mortgage but lower than other forms of unsecured loans.


  • A HELOC is a revolving line of credit that allows you to borrow against the equity in your home as needed, like a credit card.
  • It provides flexibility, allowing you to access funds as required and repay them over a specific term.
  • The interest rate on a HELOC is often variable and may be lower initially than a home equity loan, but it can fluctuate over time.

How can I calculate my payments?

Calculate your Home Equity Line of Credit payments with this nifty calculator.

What can I use a home equity line of credit for?

Here are some common uses for a HELOC:

  • Home improvements
  • Investments
  • Personal expenses
  • Debt consolidation 
  • Educational costs


Find out if you qualify for a Home Equity Line of Credit and unlock the potential of your home’s equity today.


Payment options

  • Use non-WRCU cards to make a WRCU loan payment or deposit
  • Send check via snail mail to PO Box 35 Enumclaw, WA 98022-0035
  • Electronic payments
  • Call us at (360) 825-4833 ext. 6 option 2
  • Recurring payments from another financial institution (free)
  • One-time payment from another financial institution (fees apply)
  • VISA Debit/Credit (fees apply)
  • Bill Pay
  • Make a payment at the Credit Union (we love seeing our members!)
  • Transfer from your White River Credit Union account
  • Use the form in the Make a Payment link below (fees apply)

More HELOC resources

Credit Union Loans: Which One Is Your Match?
What is a Home Equity Line of Credit and How do They Work?
Comparing a Home Equity Loan vs. HELOC

Loans 24/7

No matter what time of day or night, you can apply for a WRCU loan and get approval 24/7 using our mobile-friendly online application. You can even get a call back within 15 minutes to ask questions.

Book an appointment

When you’re ready to get started, we’re here to help. Our team has your back to answer your questions and assist you from start to finish.


© 2020 White River Credit Union