Your monthly digital newsletter is now available. Stay up to date on all things CommonWealth!
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Re-Imagine What Your Home Can Do For You! If you have equity in your home, a Home Equity Line of Credit (HELOC) is a great way to utilize that equity to enhance your life. A HELOC allows you to borrow up to 80% of your property equity as you need it. It is a convenient option to get cash whenever you want it to pay for any projects you have been thinking about. The loans range from $10,000 to $500,000 and have a draw period of 10 years with a repayment period of 20 years.
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Re-Imagine How You Spend Your Summer
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Do you have any home projects you have been dreaming about – a pool in your backyard, new quartz countertops, or an extra room extension on your house? As the world starts to open up again, and we are able to see our friends and family after being apart for so long, now is a perfect time to freshen up your backyard landscaping for some summer BBQs, renovate your kitchen into your dream kitchen for hosting family dinners, or any other project you can think of!
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If you don’t have any immediate renovation needs in your home, you could also consider using a HELOC to add practical items to your home such as solar panels or a new air conditioning unit. Having solar power and newer, more efficient appliances in your home can help you save money on your bills in the long run. - To help you decide if solar is the right fit for you, our friends at Earth Electric are offering CommonWealth members a neighborly discount of $250 - $500 on solar and storage for your home.* Click here for more details.
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For many companies, working from home may become more of the norm than ever before, so renovating your home to add more dedicated office space could be a great option as well. In addition to home renovation projects being a great way to utilize your equity for making your home perfect for you and your family, they are also a great way to add more value to your home for the future.
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Another way that a HELOC can help enhance your life is to use it to pay for college or any type of schooling. It is also a great option to use a HELOC to consolidate other debts you may have at one convenient low rate.
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At CommonWealth, we want to help you re-imagine how your home can make your dreams a reality. That’s why we offer an introductory rate HELOC with a fixed 1.99% APR for your first 12 months, and as low as 4.00% APR thereafter.1
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Start today to apply for a HELOC and learn more about all the ways you can re-imagine your life!
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*Earth Electric Inc. discount offer is for members only. Members will receive a discount of $500 off a standard solar system over 5 kilowatts or $250 for a system under 5 kilowatts. This offer is subject to cancellation at any time and without notice. For more details about this offer contact Earth Electric Inc.
1APR = Annual Percentage Rate. The rate you receive will be based on certain creditworthiness. Please ask us for the rate for which you qualify. All rates are subject to approximate loan term limits and certain restrictions may apply. Rates are subject to change without notice. There are minimum loan amounts required for some loan terms. Contact us for minimum loan amounts by term, maximum loan amounts and loan-to-value requirements. Additional conditions apply. The initial rate for a Intro Rate Home Equity Line of Credit is a fixed rate not based on the index and margin used for subsequent rate adjustments. The initial rate of 1.99% is fixed for the first 12 months. After 12 months the APR can vary and is based on Prime Rate plus a margin of 0.00% to 5.00% based on credit rating. The APR is subject to change on the 10th of each month, based on changes to Prime Rate, the highest Prime Rate published in the Wall Street Journal "Money Rates" table on the 20th of the prior month. Minimum APR 4.00%, maximum APR 18%. Intro Rate Home Equity Line of Credit up to 80% CLTV with loan amounts of $10,000 - $500,000. During the draw period, you may withdraw (advance) funds up to your credit line limit and pay interest accrued on that balance monthly. After the draw period, you may not withdraw any more funds from the line. Your loan is then amortized and you begin to pay the principal and interest monthly. Offer not applicable on refinance of existing CommonWealth HELOCs. There are no loan processing or early closure fees and no prepayment penalty. Borrower is responsible for closing costs ranging from $450 to $1,500 including appraisal and escrow. Consult a tax advisor regarding the deductibility of interest. Call (800) 564-1588 for additional information.
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Start a video call today! Connecting with us virtually is easier than ever with WealthCU Live, where you can video chat with a Financial Service Representative to take care of all of your banking needs. WealthCU Live connects you to a personal banker with a click of a button.
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Earn 1% Cash Back with a Cash Back Visa PlatinumEarn 1% cash back every time you make a purchase using our low rate Cash Back Visa Platinum. It's the easy way to get rewarded for doing what you do every day. Learn More!
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Refer Your Friends And Family And You Will Each Receive $50 We are always here for you and want to be there for the people you care about too. Refer your family, friends, co-workers, neighbors, or anyone you know to CommonWealth, and you will both receive $50* when they open a new Rewards Checking Account.
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To protect the health and wellness of our community, we are following the guidelines set forth by the Santa Clara County Public Health Department. For those who have not been vaccinated, please continue to wear a mask when you visit a branch. To review all of our COVID-19 updates and other ways we can help, click here.
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Federally Insured by NCUA
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