Home Equity  
Home Equity Products:
Take advantage of your home's value by using the equity you have built to finish that long overdue project, help pay for college or to consolidate bills. At CommonWealth there are many options to choose from to help you achieve these goals.
  1. Home Equity Loan: A home equity loan is secured by your home and can be either a first mortgage, if your home is already paid for, or a second mortgage. The equity loan can carry either a fixed or a variable interest rate depending on which program works for you.
  2. Home Equity Line: A line-of-credit loan carries a variable rate of interest and provides you the ability and convenience of writing your own loan as needed. You are given a checkbook which allows you to pay for any larger item of $500.00 or more directly by check. Monthly payments of principal and interest are based upon 2% of your unpaid balance.

Additional Features of our Line of Credit Loan Program:
  • 10 year term
  • Maximum loan is 80% of your home's market value less any first mortgage to qualified members
  • Minimum loan amount of S10,000.00
  • No annual fees
 
Ready To Join
  "Open to anyone who lives or works in Kankakee, Ford, Iroquois and Will Counties.
  Kankakee County’s original community credit union provides security and stability for our members’ financial needs since 1952.
  ATM’s located at all three CWCU locations and inside Kankakee Community College.
  24/7 service through Online Account Access and Telcu Audio Response.
  Member owned so earnings are given back to you in the form of better savings and lower loan rates.
  $1,000 Accidental Death and Dismemberment Policy included with membership.
  A full line of savings and loan products designed to fulfill all your financial needs.
  Click here to get started, with our Membership Application!