TELCO Credit Union - Tarboro, NC - Home Mortgage

TELCO Credit Union

TELCO Credit Union
1720 Barlow Road
Tarboro, NC 27886
PH: (252) 823-0119 FX: (252) 823-1001

In 1941, nineteen honest hard working Carolina Telephone employees met in Tarboro, North Carolina to form Telco Credit Union. With sound financial principles and an eye on the future they put their hard earned money to work and never looked back.

Today, TELCO is a full service not-for-profit financial institution serving over 10,000 members. Profits are returned to members and reflected in TELCO's ability to pay higher dividends on savings, offer lower interest rates on loans and by providing expanded products and services at less cost.

Some things will never change; our sound financial principles and maximum service and opportunities for our member/owners to make their hard earned money work hard for them.

Membership in TELCO Credit Union is as easy as completing as simple membership application and making an initial deposit of $5.00 into a Savings Account. Our motto is "once a member always a member", but you must maintain a minimum balance of $5.00 in your Savings Account and keep it active.

Membership is available to active or retired employees and their immediate family. *Immediate Family* consist of wife, husband, daughter, son, mother, father, brother, sister, grandmother, grandfather and grandchildren. All Selected Employee Group employees and family members are required to provide proof of eligibilty.

Membership has been extended to the following Selected Employee Groups (SEGS) and their immediate family.

TELCO contracted with First South Bank to provide our membership with a complete range of mortgage loans. Telco maintains ownership of the loan while First South Bank processes and services the loan.

Home Equity Loans are simply a "line of credit" secured by the equity in your home:

Credit Lines – $5,000 minimum, $250,000 maximum

Method of Calculating Credit Line – 90.0% loan to value less existing liens or $250,000 whichever is less

Variable interest rate. Flexible repayment options.

Conventional Fixed Rate Mortgages are available on 15, 20 and 30 year terms for the purchase or refinancing of owner-occupied primary residences or second homes.

TELCO’s Adjustable Rate Mortgage ( ARM ) loans feature annual and lifetime interest rate caps. Plus an ARM can provide you with more flexible terms, lower initial interest rates, lower monthly payments, which allow you to buy more house for the money.

Copyright© 2008, Telco Credit Union