If you know the amount you wish to borrow, we recommend our Home Equity Loan from $5k to $150k.
If you know the amount you wish to borrow, we recommend our Home Equity Loan from $5k to $150k. A home equity loan can be a great way to obtain a low-rate loan and possibly earn a federal tax deduction. Prior to applying for a Home Equity loan, we recommend you click the buttons below to gather and read important information regarding our loan process. When you are ready, click "Apply Now" to begin the application process online.
apply now loan checklist what to expect
If you are uncertain how much you will need to borrow, or if you need access to funds over a period of time, our HELOC may be the right choice for you.
If you are uncertain how much you will need to borrow, or if you need access to funds over a period of time, our HELOC may be the right choice for you. Before you apply, we recommend clicking the buttons below to gather important information regarding our loan process. When you are ready, click "Apply Now" to begin the application process online.
HELOC checklist what to expectHow soon will someone contact me after I have submitted my mortgage application?
Once you submit your mortgage loan application for review, EFCU will contact you within 24-48 hours, unless it is a weekend application.How long does the loan process typically take?
EFCU strives to close all of our loans within 30-45 days.Is there a limit on how big my home equity loan can be?
The maximum amount for a home equity loan will depend on the value of your home and the balance of any other mortgages. That maximum loan to value is 80 percent, and the loan cannot be greater than $150,000.Can I get a home equity loan on my vacation or investment property?
Eglin Federal Credit Union will only finance primary residences. However, if there is enough equity on your primary residence, there are some cases where we can use your primary residence as collateral and do a cash-out refinance instead.Will I need an appraisal?
There are some cases where we can use 100% of the tax assessment. Please call EFCU's Mortgage Department at 850.862.0111 x.1837. A mortgage lending representative will help discuss your available options.Will the funds be available on the closing date?
No, a refinance has a required rescission period. A rescission period gives a borrower the right to cancel their loan transaction with the new lender within three days of closing.How do I know if my home equity loan is tax deductible?
You can consult with your tax advisor regarding which purposes may be permissible for tax deductions. Typically, mortgage interest payments are tax deductible, and your advisor will be able to tell you whether your home equity payments also qualify.How soon will someone contact me after I have submitted my mortgage application?
Once you submit your mortgage loan application for review, EFCU will contact you within 24-48 hours, unless it is a weekend application.How long does the loan process typically take?
EFCU strives to close all of our loans within 30-45 days.How does a HELOC work?
A HELOC is basically a credit card with your home listed as collateral. HELOCs have a 9 year draw period before they will automatically close. You will then have 20 years to repay off any remaining balance.Can I increase my credit limit on an existing HELOC with EFCU?
Yes, however you would have to reapply and go through the entire loan process all over again.How is the monthly payment on a HELOC calculated?
Your monthly payment can be determined by taking your current balance and multiplying it by 1.5%. (Example: 150,000 x 1.5% = $2,250). As your balance decreases, so will your monthly payment.Will I need an appraisal?
There are some cases where we can use 100% of the tax assessment. Please call our office to see if this could be an option for your current situation.
| Type of Fee | EFCU | Other Lenders |
|---|---|---|
| Origination | $0 | up to 1%1 |
| Pre-payment penalty | $0 | varies by lender |
| Underwriting | $0 | up to $8951 |
| Processing | $0 | up to $4951 |
| Tax service | $0 | up to $851 |
| Document preparation | $0 | up to $1501 |
| Administrative | $0 | up to $1501 |
Routing Number: 263178070 *APR = Annual Percentage Rate.
©2021 Eglin Federal Credit Union. Eglin Federal Credit Union is Federally Insured by NCUA. Equal Housing Lender (NMLS 440642). Equal Opportunity Employer. Information submitted to EFCU via email is not encrypted and may not be secure. Links to other sites are provided as a convenience to our visitors. The Credit Union is not responsible for the availability, content, or privacy practices of any linked site. Images used for representational purposes only; do not imply government endorsement. If you experience any problems accessing our website or using online services, please call 800.367.6159 during our normal business hours (Monday-Friday 9am-5pm CST, excluding federal holidays).
When you receive a collateral loan from EFCU you'll need to agree to maintain adequate insurance coverage.
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Questions? Contact us by calling 850.862.0111 option 2 or email Consumer Loans via secure email.
| VEHICLE TYPE | TERM | APR* (as low as) |
|---|---|---|
| New or Used Up to 15 Years Old | 66 Months | 2.49% |
| New or Used Up to 10 Years Old | 74 Months | 2.99% |
| New or Used Up to 10 Years Old ($20k +) | 84 Months | 3.99% |
* APR = Annual Percentage Rate. There is a range of rates for each loan type. The rate received will be determined by an evaluation of the applicant's credit. The above rates are current as of Wednesday, July 28, 2021 and are subject to change
Got questions? Contact us by calling 850.862.0111 option 2 or email Consumer Loans via secure email.
| LOAN VALUE | LOAN TERM | APR*(as low as) |
|---|---|---|
| Up to $10,000 | 60 Months | 4.75% |
| Up to $25,000 | 120 Months | 5.75% |
| Up to $50,000 | 144 Months | 6.00% |
| Over $50,000 | 180 Months | 6.00% |
| LOAN VALUE | LOAN TERM | APR*(as low as) |
|---|---|---|
| Up to $10,000 | 60 Months | 5.75% |
| Up to $25,000 | 120 Months | 6.75% |
| Up to $50,000 | 144 Months | 7.00% |
| Over $50,000 | 180 Months | 7.00% |
Questions? Contact us by calling 850.862.0111 option 2 or email Consumer Loans via secure email.
| LOAN VALUE | LOAN TERM | APR*(as low as) |
|---|---|---|
| Up to $10,000 | 60 Months | 4.75% |
| Over $10,000 | 120 Months | 5.75% |
| Over $25,000 | 144 Months | 6.00% |
| Over $50,000 | 180 Months | 6.00% |
| LOAN VALUE | LOAN TERM | APR*(as low as) |
|---|---|---|
| Up to $10,000 | 60 Months | 5.75% |
| Over $10,000 | 120 Months | 6.75% |
| Over $25,000 | 144 Months | 7.00% |
| Over $50,000 | 180 Months | 7.00% |
| LOAN VALUE | LOAN TERM | APR*(as low as) |
|---|---|---|
| Up to $10,000 | 60 Months | 5.00% |
| Over $10,000 | 72 Months | 6.75% |
| Over $20,000 | 84 Months | 7.25% |
Questions? Contact us by calling 850.862.0111 option 2 or email Consumer Loans via secure email.
| LOAN VALUE | LOAN TERM | APR*(as low as) |
|---|---|---|
| Up to $10,0001 | 48 Months | 6.00% |
| Over $10,0002 | 60 Months | 6.00% |
| LOAN TERM (up to) | APR*(as low as) |
|---|---|
| 60 Months | 5.00% |
Got questions? Contact our Mortgage Services team today at 850.862.0111 (Option 3) or via secure email
| LOAN TERM | APR* | ORIGINATION FEE | POINTS |
|---|---|---|---|
| 30 year | 3.375% | 0% | 0 |
| 20 year | 3.250% | 0% | 0 |
| 15 year | 2.875% | 0% | 0 |
Got questions? Contact our Mortgage Services team today at 850.862.0111 (Option 3) or via secure email
| LOAN TERM | APR* | ORIGINATION FEE | POINTS |
|---|---|---|---|
| 30 year | 3.375% | 0% | 0 |
| 20 year | 3.250% | 0% | 0 |
| 15 year | 2.875% | 0% | 0 |
Got questions? Contact our Mortgage Services team today at 850.862.0111 (Option 3) or via secure email
| LOAN TERM | APR* | ORIGINATION FEE | POINTS |
|---|---|---|---|
| 30 year | 3.375% | 0% | 0 |
| 20 year | 3.250% | 0% | 0 |
| 15 year | 2.875% | 0% | 0 |
Got questions? Contact our Mortgage Services team today at 850.862.0111 (Option 3) or via secure email
| INTEREST RATE | MAXIMUM COMBINED LTV** (TLTV) |
|---|---|
| 5.25% APR* | 80% |
| INTEREST RATE | MINIMUM ADVANCE | CLOSING COSTS |
|---|---|---|
| 3.25% APR* | $5,000 | NONE |
Got questions? Contact our Mortgage Services team today at 850.862.0111 (Option 3) or via secure email
| MAX TERM | APR* |
|---|---|
| 5 years | 8.50% |
| 10 years | 9.00% |
Got questions? Contact our Mortgage Services team today at 850.862.0111 (Option 3) or via secure email
| MAX TERM | APR* |
|---|---|
| 9 months | 5.50% |
| LOAN TERM | APR* as low as | MAX LOAN AMOUNT |
|---|---|---|
| 42 Months | 8.90% | $20,000 |
| LOAN TERM | APR* as low as | MAX LOAN AMOUNT |
|---|---|---|
| ------ | 8.90% | $20,000 |
| REPAYMENT PERIOD | APR* | MAX LOAN AMOUNT |
|---|---|---|
| 120 days | 16.9% | $500 |
| REPAYMENT PERIOD | APR* as low as | MAX LOAN AMOUNT |
|---|---|---|
| 42 Months | 13.90% | $3000 |
| REPAYMENT PERIOD | APR* as low as | MAX LOAN AMOUNT |
|---|---|---|
| 42 Months | 5.00% | $2000 |
| LOAN TYPE | MAX LOAN AMOUNT | REPAYMENT PERIOD | APR* |
|---|---|---|---|
| Share Loan Pledging S1 or S4 | Available balance in account pledged | 84 months | 2.00% |
| Share Loan Pledging S7 | Available balance in account pledged | 84 months | 2.50% |
| Share Loan (Variable Rate) | Secured by funds in S-1. Rate adjusted quarterly, APR* 3% above S-1 dividend rate. | 84 months | Variable% |
| Share Certificate Loan | Rate is 3% above Share Certificate Rate. Maximum term is Maturity of Share Certificate. | Paid at maturity | 3% above Share Certificate Rate |
| PREMIUM CHECKING | DIVIDEND RATE | APY* |
|---|---|---|
| A $500 minimum balance is required to earn dividends. The APY stated is accurate as of the last dividend declaration date, which is the last day of the previous quarter. Dividend rate and APY are variable and subject to change after the account is opened. If you close your account before dividends are paid you will not receive the accrued dividends. | .05% | .05% |
| REGULAR SHARE SAVINGS | DIVIDEND RATE | APY* |
|---|---|---|
| A $50 daily minimum balance is required to earn dividends. The APY stated is accurate as of the last dividend declaration date, which is the last day of the previous quarter. Dividend rate and APY are variable and subject to change after the account is opened. If you close your account before dividends are paid you will not receive the accrued dividends. | .20% | .20% |
| FL UNIFORM TRANSFER TO MINORS SAVINGS | DIVIDEND RATE | APY* |
|---|---|---|
| A $50 daily minimum balance is required to earn dividends. The APY stated is accurate as of the last dividend declaration date, which is the last day of the previous quarter. Dividend rate and APY are variable and subject to change after the account is opened. If you close your account before dividends are paid you will not receive the accrued dividends. | .20% | .20% |
| CHRISTMAS CLUB SAVINGS | DIVIDEND RATE | APY* |
|---|---|---|
| A $50 daily minimum balance is required to earn dividends. The APY stated is accurate as of the last dividend declaration date, which is the last day of the previous quarter. Dividend rate and APY are variable and subject to change after the account is opened. If you close your account before dividends are paid you will not receive the accrued dividends. | .20% | .20% |
| VIP SAVINGS | DIVIDEND RATE | APY* |
|---|---|---|
| A $50 daily minimum balance is required to earn dividends. The APY stated is accurate as of the last dividend declaration date, which is the last day of the previous quarter. Dividend rate and APY are variable and subject to change after the account is opened. If you close your account before dividends are paid you will not receive the accrued dividends. | .20% | .20% |
The Current APY and Dividend Rates shown are the current weekly rates in effect from 7/23/2021 - 7/29/2021. The Previous APY and Dividend Rate stated are accurate as of the last dividend declaration date, which is the last day of the previous month. Dividend rate and APY are variable and subject to change after the account is opened. If you close your account before dividends are paid you will not receive the accrued dividends.
|
Money Market Tier |
Current Dividend Rate |
Current APY* |
Previous Dividend Rate |
Previous APY* |
|---|---|---|---|---|
|
Balance $.00 to 2,499.99 |
0.05% | 0.05% | 0.05% | 0.05% |
|
Balance $2,500.00 to 9,999.99 |
0.15% | 0.15% | 0.15% | 0.15% |
|
Balance $10,000.00 to 24,999.99 |
0.20% | 0.20% | 0.20% | 0.20% |
|
Balance $25,000.00 to 49,999.99 |
0.25% | 0.25% | 0.25% | 0.25% |
|
Balance $50,000.00 & up |
0.30% | 0.30% | 0.30% | 0.30% |
| COVERDELL EDUCATION SAVINGS | DIVIDEND RATE | APY* |
|---|---|---|
| A $50 daily minimum balance is required to earn dividends. The APY stated is accurate as of the last dividend declaration date, which is the last day of the previous quarter. Dividend rate and APY are variable and subject to change after the account is opened. If you close your account before dividends are paid you will not receive the accrued dividends. | .20% | .20% |
All Current APY and Dividend Rates shown are the current weekly rates in effect on 7/23/2021. Dividend rate and APY are variable and subject to change after the account is opened. The Previous APY and Dividend Rates stated are accurate as of the last dividend declaration date, which is the last day of the previous quarter.
| Account Description | Current Dividend Rate | Current APY* | Previous Dividend Rate | Previous APY* |
|---|---|---|---|---|
| Traditional IRA | 0.50% | 0.50% | 0.50% | 0.50% |
All Current APY and Dividend Rates shown are the current weekly rates in effect on 7/23/2021. Dividend rate and APY are variable and subject to change after the account is opened. The Previous APY and Dividend Rates stated are accurate as of the last dividend declaration date, which is the last day of the previous quarter.
| Account Description | Current Dividend Rate | Current APY* | Previous Dividend Rate | Previous APY* |
|---|---|---|---|---|
| Roth IRA | 0.50% | 0.50% | 0.50% | 0.50% |
A $2500.00 minimum deposit required. There is a penalty for early withdrawal.
Rates listed are current from 7/23/2021 - 7/29/2021.| CERTIFICATE TYPE | DIVIDEND RATE | APY* |
|---|---|---|
| 31 Days / 1 month Certificate | 0.20% | 0.20% |
| 92 days / 3 month Certificate | 0.20% | 0.20% |
| 182 days / 6 month Certificate | 0.20% | 0.20% |
| 365 days / 12 month Certificate | 0.40% | 0.40% |
| 548 days / 18 month Certificate | 0.45% | 0.45% |
| 730 days / 24 month Certificate | 0.50% | 0.50% |
| 1095 days / 36 month Certificate | 0.55% | 0.55% |
| 1460 days / 48 month Certificate | 0.60% | 0.60% |
| 1825 days / 60 month Certificate | 0.65% | 0.65% |
| Annual Percentage Rate (APR) for Purchases, Balance Transfers, and Cash Advances | as low as 7.9% up to 14.9% The APR is determined at account opening and is based on the borrower's credit score. |
| Penalty APR | None |
| Paying Interest | Your due date is at least 24 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date |
| Minimum Interest Charge | None |
| For Credit Card Tips from the Consumer Financial Protection Bureau | To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore |
| Annual Fee | None |
| Transaction Fees | |
| Balance Transfer | None |
| Cash Advance | None |
| International Transaction | None |
| Penalty Fees | |
| Late Payment | $20 or the amount of the required minimum payment, whichever is less, if you are 12 or more days late in making a payment. |
| Over-the-Credit-Limit | None |
| Returned Payment | Up to $28.00 |
| Annual Percentage Rate (APR) for Purchases, Balance Transfers, and Cash Advances | as low as 8.9% up to 15.9% The APR is determined at account opening and is based on the borrower's credit score. |
| Penalty APR | None |
| Paying Interest | Your due date is at least 24 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date |
| Minimum Interest Charge | None |
| For Credit Card Tips from the Consumer Financial Protection Bureau | To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore |
| Annual Fee | None |
| Transaction Fees | |
| Balance Transfer | None |
| Cash Advance | None |
| International Transaction | None |
| Penalty Fees | |
| Late Payment | $20 or the amount of the required minimum payment, whichever is less, if you are 12 or more days late in making a payment. |
| Over-the-Credit-Limit | None |
| Returned Payment | Up to $28.00 |
When you received your loan you agreed to maintain adequate insurance coverage. If your insurance information has changed or you receive a letter stating we do not have proper documentation, you should provide us with a copy of your insurance declarations page (not your insurance card). The declarations page must show the following information:
Eglin Federal Credit Union uses small text files called cookies to collect anonymous Web site traffic data. This information helps improve our Web services. Our cookies do not collect or store any personally identifiable information.
To help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens or signs on an account.
When you open an account, we will ask you for your name, physical address, date of birth and other information that will allow us to identify you.
| Defense Credit Union Council |
| Eglin Air Force Base |
| Hurlburt Field |
| Internal Revenue Service |
| National Association of Federal Credit Unions |
| National Credit Union Administration |
Please refer to the following guidelines for providing your account number:
In compliance with The Secure and Fair Enforcement for Mortgage Licensing Act, also known as the SAFE Act, we are providing a list of EFCU's registered mortgage loan originators and their Nationwide Mortgage Licensing System (NMLS) number. The SAFE Act was passed to ensure the integrity of the Mortgage Lending system by establishing a set of standards that specific mortgage professionals must meet in order to work in the mortgage industry.
| EFCU Mortgage Professional | NMLS ID |
|---|---|
| Ann Creager | 1561554 |
| April Carver | 1011150 |
| Ashley Hall | 1011145 |
| Brian Mark Franks | 1296056 |
| Carole Stanley | 1482257 |
| Carrie Calcutt | 2064000 |
| Christina Walker | 1714720 |
| Christy Milian | 490970 |
| Cynthia Bower | 2064007 |
| Debbie Adams | 1012758 |
| Dildorakhon (Dora) Davlatovna Tajiboeva | 1871291 |
| Edith Darlene Sheppard | 1007643 |
| John Pellerin | 1011113 |
| Kayla Michelle Smith | 2177769 |
| Keiandrea Yvette McKinnie | 1212769 |
| Kevin Ray Debolt | 1885511 |
| Kristin Hyder | 1832505 |
| Lilly B. Edra | 2041564 |
| Michele (Shellie) Marie Colaizzi | 798447 |
| Mellisa Jean Mills Nix | 2121046 |
| Nakia Cherelle Woodley | 2080609 |
| Nikita LaShon Torres | 1849764 |
| NormaJean Enlow | 1212774 |
| Ruby Tincher | 1212771 |
| Susan Castillo Dombrigues | 490967 |
| Tabias Peazant | 1626914 |
| Tatyana Galenkova | 2063947 |
| Tiffany Michelle Cadogan | 1867034 |
| Vivian Gabrielle Crosby | 2135959 |
| Yolanda Watters | 805809 |
| Zena Payne | 490969 |
| Eglin FCU | 440642 |
eStatements provide online access to your account statements instead of by mail. Besides being an excellent way to help our environment, going paperless is also a fast, convenient and safe way to view your monthly statement. This service is free to all EFCU members and can be cancelled at any time. To receive eStatements, Online Banking is required.
Set up eStatements today by logging in and selecting 'eStatements' under the 'eServices' tab in the main navigation.
We recommend that members with Online Banking log in to make these changes in the "Contact Information" section under the "My Profile" tab.
Please note: For the safety and security of our members, some services may be limited for up to 30 days after an address change. Print the Change of Contact Information form to submit it in person at an EFCU branch.
Complete the skip-a-pay form to agree to the terms* and request your preference to skip your next loan payment on your EFCU loan product. Please note: It may take up to 2 business days to process your request. If submitted via DocuSign, you will receive a confirmation email when your request has been processed. If you have questions or need additional assistance, please call 850.862.0111 or 800.367.6159.
*Subject to approval. Your account must be in good standing. This offer is subject to a $20 processing fee for each loan payment skipped. Only one skip allowed per loan per 12-month period. This offer excludes Mastercard®, S.A.F.E. Loans, Share Certificate Loans, Mortgage Loans, and Mobile Home Loans. Loan must be at least one year old. Skipping a payment will extend the repayment period on the loan and interest continues to accrue during the skip period. Except as expressly amended by this agreement the terms of the original loan agreement remain in full force and effect. Annual Percentage Rate and scheduled payment do not change. GAP protection coverage will be reduced if you skip or miss more than 2 monthly payments over the life of the loan.
You are not required to take a Required Minimum Distribution (RMD) for the 2020 tax year. This RMD waiver applies to 2020 RMDs, including 2019 RMDs paid between January 1, 2020 and April 1, 2020. If you have already taken a Required Minimum Distribution from your EFCU IRA, you have 60 days to rollover those funds back into your IRA. If your 2020 Required Minimum Distribution was more than 60 days ago, seek competent tax advice for available options.
Please complete this application in its entirety to ensure your request will be processed in a timely manner. Signatures must be witnessed by an Eglin FCU employee, a Notary Public, or signed electronically using an Eglin FCU eSignature service.
Print the 2020 IRA Required Minimum Distribution Waiver Request to submit it in person at an EFCU branch.
| Holiday | Date |
| Memorial Day | Mon, May 31, 2021 |
| Independence Day | Mon, Jul. 5, 2021 |
| Labor Day | Mon, Sept. 6, 2021 |
| Columbus Day | Mon, Oct. 11, 2021 |
| Veterans Day | Thurs, Nov. 11, 2021 |
| Thanksgiving Day | Thurs, Nov. 25, 2021 |
| Christmas (observed) | Fri, Dec. 24, 2021 |
| New Year's Day (observed) | Fri, Dec. 31, 2021 |
| Martin Luther King, Jr. Day | Mon, Jan. 17, 2022 |
| Presidents' Day | Mon, Feb. 21, 2022 |
| Name | Title |
| Jerry Williams | President/CEO |
| Kenny Girot | COO, Chief Operations Officer |
| Cathie Staton | CSO, Chief Strategy Officer |
| Gina Denny | SVP, Human Resources |
| Tim Farnsworth | SVP, Information Technology |
| Carlene Grant | SVP, Accounting |
| Rocky Magee | SVP, Information Systems |
| Kim Nauta | SVP, Branch Operations |
| Dawn Oravetz | SVP, Payment Services |
| Name | Title |
| James Pitts | Chairman |
| Robert Harlan | Vice Chairman |
| Russ Corbitt | Secretary/Treasurer |
| Richard Adams | Director |
| Daniel A. McInnis | Director |
| Barbara Patty | Director |
| William S. Rone | Director |
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