As a rule interest paid on the following loans is tax deductible. However, please consult with your tax advisor.

HCU makes first mortgage loans and Home Improvement Loans. To apply come to our office at 1420 Harrison St. If you are purchasing a home and have signed an agreement to purchase it, please bring that with you so we can get started. Usually, we can close the loan in about 10 days.

If you want to make home improvements, please get bids for the costs of the improvements (including the material and labor) and bring them with you. Also, please bring a copy of your most recent real estate tax bill. We can usually process this type of loan in a week, but there is a govenment mandated waiting period of 3 business days after the closing before we can disburse the funds. If you are borrowing more than $7500, we will have to record a mortgage on your property....it does not have to be a first mortgage so if you obtained a mortgage elsewhere when you purchased the property that is OK. These loans cannot exceed $15000 and the term can be up to 84 months. Call 217-228-2376 for the current interest rate.

ALL LOAN APPLICANTS AND APPLICATIONS MUST MEET OUR UNDERWRITING REQUIREMMENTS.