Central Credit Union

Please download the latest version of Adobe Flash Player here.

  • Personal Banking
  • Business Banking
  • Loans and Mortgages
  • Investment and Insurance
  • e-Central Service Center
  • About Us

Loans and Mortgages

Loans and Mortgages

Home Equity Line of Credit

A Home Equity Line of Credit (open-end-credit) is a form of revolving credit in which your home serves as collateral. It gives you a predetermined limit, to access money when you need it and you only pay interest on the amount that is borrowed.


  • Borrow up to 80% of the appraised value of your owner-occupied home, or 70% of the tax assessment value, less your 1st mortgage balance
    • Maximum LTV on condominiums is 70% LTV
  • Only owner-occupied and second homes qualify for this product
  • Variable interest rates start as low as Prime minus 1% up to 70% of appraised value. 
  • Rates adjusted annually on the 15th of the month in which the line was opened.
  • Flexible payment term of up to 30 years
  • Money you borrow is available for future borrowing once you repay it
  • The Credit Union pays all Closing Costs for properties within Worcester County, except appraisals, if necessary. Any loan amount over $250,000 will require an appraisal. Title search fees may apply for properties outside of Worcester County or the state of Massachusetts, or properties obtained thru a foreclosure deed.
  • Interest may be tax-deductible (consult your Tax Advisor).

Easily Accessible Funds

Several Payment Options

Get Started Now!

Would you like to know more? Contact us or visit any branch location and we'll get you started.

CentralNet Login

CentralNet Enrollment

For first-time login to CentralNet, use the password you selected when you opened your account.

If you do not have a password or have forgotten it, call 508-842-7400 or 800-527-1017.


Live Chat by LivePerson

Secure Chat is available
Monday through Friday
8:00 a.m. to 4:30 p.m.

Copyright © 2015 Central One Federal Credit Union. All Rights Reserved.