Are you worried about your emergency fund running out? Learn what Morgan did…
Despite everything in 2020, Morgan felt lucky. She had been able to keep working, and having moved into a home she loved a few years earlier, didn’t even really mind staying at home. She was happy, making her finances work despite never really being able to get ahead and set aside some savings for an emergency fund.
Things were going well.
The Turning Point
Then a big storm changed things.
In a double-whammy of calamity, the sump pump in her basement failed and hail pummeled her roof and car.
After the storm, Morgan had a problem on her hands. Her insurance deductibles were going to be hard enough to cover. But when she found out the flooded basement wasn’t covered, she knew she needed to find a solution.
After getting some advice from a friend, she went to Natco Credit union and applied for a home equity line of credit.
Morgan applied for a home equity line of credit (HELOC). Since she was able to draw on the credit line for only what she needed, she was smart about cleaning up the mess. She paid the deductible to get her car and roof fixed. She bought a new sump pump and found a good contractor to help her restore the basement.
With rates lower than a credit card, Morgan is paying off the balance faster, too.
Best of all, Morgan now knows that she has access to emergency funds if she ever has to use them again. And since she only pays back the principal and interest of what she uses, she can rest easier knowing it’s there.
Rates as low as:
Natco home equity lines of credit include a 10 year draw period plus a 15 year repayment period.
Home equity lines of credit (HELOC) can be used to accomplish many goals. Here’s a couple more examples…
The Vance Family didn’t realize it at first, but the best move they could make when they needed more space was to stay exactly where they were.
When Valerie found herself in debt, she “popped” into Natco Credit Union. See how she turned the corner thanks to a little help from a friend.
The Natco Credit Union HELOC examples are fictitious and not based on real people or stories. Any resemblance to actual events or locales or persons is entirely coincidental. If you’d like to share your story with us, we’d love to hear it! Just contact us here and tell us how you’re putting your HELOC to work.
Get the help you need today and tomorrow with Natco’s Home Equity Loan
Choose the Natco Home Equity Loan to help you handle life’s goals and challenges. Apply online today. Have questions? We’re happy to help. Contact us at