Mastercard HELCC

True North is making a change to our current Home Equity Line Credit Card product. As part of the technology improvements TNFCU has been making for the past year, we are switching to a new credit card processor and we will be issuing new account numbers for all HELCC accounts.

On July 17, 2017 your existing TNFCU Home Equity Credit Card will no longer function. Further, many of our HELCC holders never use their plastic to access their Line of Credit. Due to this fact, we will not automatically be mailing you a card, but will be happy to do so upon request. We are making this change because the association of larger credit limits with credit card access presents an increased fraud risk. For those members who wish to continue using a card to access their line you may either call the Member Contact Center at (907) 523-4700, reach out to us via email at; or speak with a representative at your local branch.

What other changes are being made to my Home Equity Credit Card Account? When the renewal period is up for your current HELCC (accounts are reviewed every 5 years) your line of credit will not be automatically renewed and the credit line will be closed. The repayment period will depend on the outstanding balance at the end of the final draw period and fluctuations in the interest rate after the draw period ends. We are offering a new Home Equity Line of Credit to replace this product, and are happy to work with you to move your loan over at your convenience (more information below).

How will I receive my Home Equity Credit Card account statement? Members currently enrolled in E-Statements will be able to access your HELCC statement via Express PC Home Banking. Mailed statements will be sent for those members not currently enrolled in E-Statements.

Will there be any changes to how my payment is factored or when my payment is due? No changes. Your current HELCC payments will continue to follow the disclosure provided to you at the time you opened this line of credit.

Will there be any change to where my payment should be mailed? Yes. Beginning July 1, 2017 payments can be made electronically or mailed to P.O. Box 34157, Juneau AK 99803. Please ensure you update your bill pay provider as the payment address in California will no longer apply.

What about balances on my account at the special promotional rate? Balances on your account that have a special promotional rate will continue to receive the special rate until the promotional period end. At that time, the balances will accrue interest based on the interest rate associated with your account.

Is there a new Home Equity Credit Line product that will replace my existing account? TNFCU’s new Home Equity Line of Credit will be available with limits from $20,000 to $250,000. Your line of credit will be dependent on your credit worthiness and the availability of equity in your home. These new lines of credit will be available for 5 year periods, which can be renewed after a review of the collateral value and your continued credit qualification. This product will be accessible through Express PC Home and Mobile banking, by calling the Member Contact Center, and transaction processing at the teller line; however, the line will not be directly accessible by credit card.

If you have any questions about you new Mastercard, please don’t hesitate to call the Contact Center at (907) 523-4700.