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H E Line of Credit



What is a HELOC? A home equity line of credit (HELOC) is a line of credit that uses your primary or secondary home as collateral. The rate is variable (please read disclosure below).
The amount available to borrow depends on the current financial debt that is secured by your home (like your current mortgage).

How it works: Your line of credit offers you the freedom to purchase items directly from the credit line, with the ability to transfer into your checking account via online banking transfer or write Home Equity Checks.


HEMLOC-*2.95% Introductory APR (Annual Percentage Rate) ends one year from closing date. APR will change to a variable rate of prime + 0% at that time. ***Prime is 5.50% as of 12/20/18. Floor rate: 4.00%. Rate cap: 13.50%. You may at any time convert a portion of your line to a fixed rate for a specified period of time up to 10 years. You will need to contact the Association to determine your rate based upon the terms requested. **No closing costs means CFS&L will pay normal closing fees including title search and NYS mortgage tax and filing fees. Abstract of title must be provided by borrower. These fees typically range from $200 to $750 plus NYS mortgage tax equal to 1/2% to 1% of the mortgage. At CFS&L’s discretion, tax assessment will be used to determine property value, however, if an appraisal is required, the borrower will be responsible for this cost. Borrowers are responsible to reimburse CFS&L if loan is paid off and mortgage is discharged within 3 years of closing. All loans are subject to complete qualification of borrowers and subject property. Valid on NEW loans only.



 Contact us today...

Carthage ... 315-493-3480  Robert Sligar

Carthage...315-493-3480 Jasmine Coffman

Carthage ...315-493-3480  Lori Snyder   

Watertown ... 315-779-9775  Heather Blair

Watertown ... 315-779-9775  Beth Augustus

Clayton ... 315-686-4850  Pam Waterman


Carthage Federal Savings & Loan Association
313 State St, Carthage, NY  13619
Office:  (315) 493-3480
Office:  (315) 779-9775
Office:  (315) 686-4850
Toll Free:  (800) 232-0450
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