There are a few basic changes to your Home Equity Line of Credit that will not affect you financially in any way. However, laws require us to inform you so that you are aware of these changes:
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When your loan payment amount changes
Nowadays, whenever your payment amount increases (after you make one or several advances from your OAS FCU Home Equity Line of Credit), we send you a special notification in the mail informing you of that increase. |
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It is our policy to maintain our carbon footprint as earth-friendly as possible, and limiting our mailing of paper is one of the measures that help us do this. This is why effective May 1, 2019, OAS FCU will no longer inform you of payment increases via a special notice mailed to you separately. |
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To find out if your Home Equity Line of Credit payment will increase after an advance, you will find any notifications regarding that in your regular monthly statement, in the section dedicated to your Home Equity Line of Credit. |
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Using Home Equity Line of Credit checks for loan advances
After May 1st, we will continue honoring loan advance checks from Home Equity Lines of Credit for an additional 180 days. Any loan advance checks that you write will be honored and advanced from your loan all the way through October 28, 2019. We ask that you keep this in mind when writing loan advance checks to third parties. |
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We offer you instead several easy ways to make loan advances. Just contact us to indicate in which of your accounts you would like us to deposit the loan advance funds:
- In person at our offices;
- Online via your Online Banking or Mobile Banking app; or
- Via email, by sending us an email to [email protected] from your email address registered at OAS FCU.
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