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Helpful payment tips about your HELOC

  • RCU does not send out “payment coupons” or loan statements on the HELOC. This is because your payment can change at any time upon activity such as loan advances. You can view your HELOC activity on your RCU banking statements, however, please note that depending on your account type, you may not receive these statements monthly. You are encouraged to view your HELOC activity and make payments through Online Banking.
  • Your first payment due might only be a partial payment caused from accrued interest on monies advanced at closing and through the end of your billing period. This occurs only with your very first payment and is typically less than your normal monthly payment. You can check this amount in Online Banking.
  • HELOC payments can change month to month depending on your outstanding balance, interest rate and number of days in the month. The payment may recalculate upon a loan advance and/or when the Prime Rate changes.
  • If your payments are not automatically transferred from your RCU account, consider setting up an Account Alert through RCU Online Banking. This will remind you a payment is coming due and enable you to ensure you are paying the correct amount.
  • Principal only payments for Interest Only HELOC’s can only be made after the 10th day of the month.
  • You can also mail your loan payments. Where and How Do I Mail a Loan Payment to RCU?