Genesee Valley Federal Credit Union - Geneseo, NY

Genesee Valley Federal Credit Union
4621 Millennium Drive
Geneseo, New York 14454
Tel: (585) 243-1500
Fax: (585) 243-4143

The field of membership shall be limited to those having the following common bond:

If you live, work, worship, go to school or volunteer in Livingston or Wyoming Counties, you are eligible to become a member. Also, included are members' immediate family - (grand) parents, children, siblings, and / or individuals in the same household as current members.

How to Join
Any individual within the field of membership may apply for membership by phone, mail, through a field representative or in person at all Credit Union offices. At least $5.00 must be deposited in the member's account to establish a share account. Single or joint membership accounts are available.

Lifetime Membership
Once you have established membership in the Credit Union, you retain the full borrowing and savings right of that membership for life. This means employees who terminate, or family members who have established membership, have lifetime use of the Credit Union services.

HOME EQUITY LINE OF CREDIT
The Home Equity Line of Credit ("HELOC") is designed for members who want the convenience of revolving credit line and think they will have a need for additional funds in the future. Since interest is charged only on the balance outstanding, this is a great way for members to manage their borrowing needs. As monthly payments are made, the credit line is replenished so credit is there when the member needs it.

FEATURES OF OUR HELOC

Funds are accessible for 15 years from the time of closing
Available by writing a check, online transfer or by stopping at Genesee Valley F.C.U. branch location
Low variable rate (based on prime rate)
Convenience of flexible borrowing and repayment
A credit line of up to 85% of the home's equity for the best rates. A 100% of the home's equity is available for maximum borrowing power
No closing costs
Fast and easy approval and closing process
Closing generally takes 2-3 weeks
All real estate loans have a 3 day waiting period after closing and before disbursing funds by federal regulation.

FIXED RATE HOME EQUITY

If you like the security of a fixed rate and plan on making a one-time major purchase, the fixed rate home equity loan may be right for you. With a low fixed rate of interest and convenient repayment terms, this program is designed for members who know that they will not need additional funds in the future and want their loan paid off in a set term.

Features of our Fixed Rate Home Equity Loan

Loan amounts of $10,000 and greater
Convenient repayment terms from 5 - 15 years
Fixed rate and payment
No closing costs
Fast and easy approval and closing process

ALL HOME EQUITY PRODUCTS OFFER

Longer repayment term than personal loans so monthly budgeting is easier
Larger loan amounts which is great for major expenses
Tax deductable (Check with your tax adviser)
Home equity loans and lines can be used for any purpose, for example:

Home improvements
Major purchases (car, boat, appliances)
Vacation
Tuition
Debt Consolidation

QUICK EQUITY LOAN
A fast, streamlined loan for any need you may have.

100% of available equity.
Fixed Rate with a term up to 8 years.
No penalty for early pay-off.
You only finance $150.00 in closing costs.
You will need to submit your Abstract or Title for our review.
$10,000 maximum.

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