LANCO Federal Credit Union The Educated Choice

Online Banking

Enroll in Online Banking

Loans

LANCO Federal Credit Union offers both Fixed Rate Home Equity Loans and variable rate Home Equity Lines of Credit. Low-cost Credit Life and Credit Disability Insurance may be purchased on most LANCO loans.

Pre-approvals for all loans are available and will be held at the specific rate for 30 days. Loans may be paid by monthly payments or through payroll deductions.

To calculate your available equity, see the example below:

Value of Home ($150,000) x LTV (80%) = ($120,000)
($120,000) - Mortgage Balance ($100,000) = Available Equity ($20,000)

 

Fixed Rate Home Equity Loan

LANCO's Fixed Rate Home Equity loan offers a fixed rate for the term of your loan, which also means a fixed payment amount. Fixed Rate Home Equity Loans may be approved for almost any purpose and are great for debt consolidation, educational expenses and home improvement projects.

  • Terms of up to 15 years available
  • Rate is determined by borrower qualifications, amount of equity available, and the loan term
  • Loan amount must be $5,000 or greater
  • Maximum loan amount of 90% LTV (Loan to Value)
  • Closing costs exist and affect the APR. Speak with a LANCO Lender for details.

Current Rates  |  Apply Online

Home Equity Line of Credit

A Home Equity Line of Credit is a variable rate loan that offers open-ended borrowing for ongoing use. You can take advances from your line of credit quickly and conveniently by transferring funds with GABBY or Online Banking. Monthly payments are based on your loan balance and may be as low as $100.00. Home Equity Lines of Credit can be approved for almost any purpose and are great for educational expenses, home improvement projects or to meet other ongoing borrowing needs.

  • Rate is determined by borrower qualifications and amount of equity available
  • Loan amount must be $5,000 or greater
  • Maximum loan amount of $100,000 or 90% LTV (Loan to Value), whichever is less
  • Closing costs exist. Speak with a LANCO Lender for details.

Current Rates  |  Apply Online  |  Billing Error Rights

Insuring Your Loan

LANCO has partnered with MEMBER’S CHOICE® to offer our members several types of insurance policies to guarantee payment of your LANCO loan should you be in an accident, become disabled or die.

When opening a new LANCO loan, talk with your lender to decide if insurance coverage is right for you. If you already have a LANCO loan, it's not too late to add coverage! Call (717) 569-7180 to speak with a LANCO lender about your insurance options.

Credit Life Insurance

With Credit Life Insurance, you’ll find comfort in knowing that an emotional tragedy doesn’t have to become a financial one. It reduces or pays off your outstanding loan balance, up to the policy maximum, if you were to die before paying off the loan. Even if you do have other life insurance protection, keep in mind that other coverage is designed to protect your everyday expenses, not your loan balance.

Credit Disability Insurance

Could you manage financially if your income was reduced or eliminated due to a disabling illness or injury? Credit Disability Insurance can help. It makes your monthly loan payment, up to the policy maximum, should you become disabled due to a covered illness or injury.

Insuring Your Home

Members of LANCO Federal Credit Union are eligible to receive discounted home insurance through our partnership with Trustage. Click here to learn more and get a quote.

 
LANCO Federal Credit Union