Flex Equity Line of Credit

We bend over backward to give you extra financial flexibility.

  • Flexibility to access funds anytime
  • Great low intro rate
  • Lock in* fixed-rate advances anytime
Flexibility to access funds anytime
Great low intro rate
Lock in* fixed-rate advances anytime

The money's right there, anytime you need it

Next week it could be car repairs. Next month it could be tuition costs. Next year it might be a new fridge, a smartphone or a family vacation. You can't predict every future expense, but you can be prepared. A Flex Equity Line of Credit is a low-cost loan you can tap into anytime at all to pay for whatever comes next.

Flex Equity Line of Credit
  • Choose an intro rate for 12-months at 5.99% APR* or 36-months at 6.99% APR*.  
  • Credit limit based on your home's equity
  • Fast access to funds via eBanking, phone banking or WCCU branches
  • Interest is charged only on the amount actually borrowed
  • No origination or closing fees

And this line of credit comes with a twist!

Most credit lines come with a variable rate. That's also the case with WCCU's Flex Equity Line of Credit. But here's where we're different:

  • If you like the current interest rate, you can request a cash advance and then lock in that rate on that portion of your loan
  • In fact, you can lock in two fixed-rate advances at any one time
  • By locking in rates, you gain the benefit of stable monthly payments and can potentially save money in long-term interest charges

We'll help you make the most of this line of credit.

View Rates

NEW - Investment Flex Equity Line of Credit**
Now you can tap into the benefits our Flex Equity Line of Credit provides for your investment property.
  • Perfect for renovating, consolidating debt, unexpected expenses and more! 
  • Available for one-to-four family non-owner occupied homes or a second
  • Fast access to funds via eBanking, phone banking or WCCU branches
  • Ability to lock in two fixed-rate advances at any one time

Contact us for details!


A Home Equity Loan provides you with a specific amount of money and has a fixed rate and a fixed term. The  monthly payments include principal and interest.

A Home Equity Line of Credit gives you access to money when you need it. It has a variable rate that will adjust with the Prime Rate. Monthly payments are interest only but you can paydown on the principal at any time. 

Our Flex Equity Line of Credit offers the best of both worlds! It is a Home Equity Line of Credit where you can access money anytime you need it but also, offers you the ability to lock into 2 fixed rate advances at any time! 

Typically, it takes about 3-4 weeks to close on a Home Equity Loan or Line of Credit. 
No, there are not any closing costs. However, you are required to pay a recording fee to the state which is $74 in RI and $105 in CT. 
There are no fees to prepay your Home Equity Loan or Line of Credit however, there is a termination fee of $500 or 2% of the loan amount whichever is lessor for loans terminated within two years of origination date.  

Westerly Community Credit Union is a full-service credit union with Rhode Island branches in Westerly, RichmondWakefield, and Coventry.

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See how much you could save just by refinancing and moving your loans to WCCU.

Free Credit Report Review

We can help you reach your financial goals. Start with a Free Credit Report Review at WCCU.

*Annual Percentage Rates (APR) are effective as of  and subject to change without notice. After 12 month or 36 month introductory rate period, the Annual Percentage Rate (APR) is variable based on the Prime Rate as published in the Wall Street Journal on the last day of each billing cycle as follows: $10,000-$500,000 is Prime-0.25%. APR will never be more than 18% or less than 3.25% after the initial fixed period. 1-4 family owner occupied properties only. The plan allows two fixed rate advances from your line at any given time during the 10 year draw period (repayment terms up to 15 years for each draw). Fixed rate advance rates will be those in effect at time of draw. Consult a tax advisor about the deductibility of interest. A cancellation fee will apply for loans terminated within 2 years of origination date. Other rates and terms available. Available for new lines only. $50 annual fee will be waived for 1st year. A recording fee will be charged at closing, RI-$74; CT-$105. Other restrictions may apply. WCCU NMLS ID# 518892.

**Contact us for current rates and details.

For a list of WCCU employees currently licensed with a NMLS#, visit the NMLS Consumer Access website or feel free to contact us.