Thursday, May 15, 2014- Birmingham Bloomfield Credit Union now offers Home Equity specials as low as 1.99%* APR and 2.99%** APR for a limited time.

BBCU is pleased to announce an introductory home equity rate as low as 1.99% APR* for an opened end line of credit and as low as 2.99% APR** for a fixed rate closed end loan.  This special lowered rate will be in effect from now and must be closed by June 30st 2014.

Birmingham Bloomfield Credit Union is a community credit union that is open for anyone who lives, works, attends school, or worships in Oakland County. BBCU is conveniently located at 576 E. Lincoln Birmingham, MI 48009 with a branch located at 6375 Highland Rd. Waterford MI 48327. There are also thousands of shared branch options for those on the go and over 33,000 surcharge free ATMs.

“Spring is the season for homeowners to make that much needed home improvement, plan that vacation, or pay off those high interest loans. With our home equity special homeowners can take advantage of the equity in their home and get the best rates in the area” said Andy Staley, CEO of BBCU.

There is no time to waste, this offer is ending soon. To get started or for more information contact loan officer, Debbie Kinnaird at (248) 647-5958 ext 202 or Sue McFatridge at (248) 683-2920 ext 200.

*Initial promotional rate 1.99% APR (Annual Percentage Rate) is available until December 31, 2014. At the end of the promotional period the rate on the outstanding balance and subsequent draws will be based on the prime rate (a variable rate) plus a margin of up to 7.00% based on your individual credit worthiness. The INDEX for this loan is the highest Prime Rate of Interest as reported in THE WALL  STREET JOURNAL’S listing of “MONEY RATES” and determined on the last business day of each Quarter and effective on the first business day of each Quarter. If the special rate was not offered the present APR could be as much as 12.00%.  The present APR of 1.99% is current as of April 1, 2014. A home equity line of credit is secured by a first or second lien on your home, which must be one-to-four family residential real estate. This type of credit is not available for modular homes, manufactured homes, or cooperatives. The minimum line of credit amount is $5,000 and the maximum is $100,000. The maximum APR that can apply is 18.00%. Interest may be tax deductible, consult a tax advisor. Borrower must be minimum of 18 years of age and a US citizen or permanent resident alien. Subject property must be located in MI. Flood and/or hazard insurance may be required. No closing cost, no annual fee, offer subject to change without notice. Loans are subject to credit approval, membership eligibility, and underwriting terms and conditions. Additional restrictions limitations and exclusions may apply, please contact BBCU for additional details.

**A term of up to 60 months; estimated monthly payment of $17.97 per $1,000 borrowed. The APR is the credit unions standard rate. Your rate will be based on your individual credit history and underwriting factors. Effective April 1, 2014. A home equity loan is secured by the first or second lien on your home, which must be one-to-four family residential real estate. This type of credit is not available for modular homes, manufactured homes, or cooperatives. The minimum loan amount is $5,000 and the maximum is $100,000. The maximum APR that can apply is 14.00%. Interest may be tax deductible, consult a tax advisor. Borrower must be minimum of 18 years of age and a US citizen or permanent resident alien. Subject property must be located in MI. Flood and/or hazard insurance may be required. No closing cost; offer subject to change without notice. Loans are subject to credit approval, membership eligibility, and underwriting terms and conditions. Additional restrictions limitations and exclusions may apply, please contact BBCU for additional details.

About us:

Our story began more than 80 years ago with a group of teachers.  This legacy of people helping each other make smart decisions about finances is very much a part of who we are today.  Birmingham Bloomfield Credit Union is a member-owned, not-for-profit, financial cooperative that was formed to offer loans to members at fair rates by offering a fair return on members’ savings. The Credit Union then used those savings to make loans to other members at competitively low interest rates. Birmingham Bloomfield Credit Union has maintained its strong financial stability and has proven that the convenience and service provided under the cooperative, member-owned and market driven philosophy results in the most safe, secure and successful means of providing financial services.

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