HELOCs operate on a monthly billing cycle, similar to a credit card. The minimum payment is calculated at the beginning of each cycle, and that payment is due before the next cycle begins.

For example, let's say your due date is the first of the month, and we are in the month of March. The payment amount is calculated at the end of the business day on March 1, and that payment must be paid in full before the end of business day on April 1. At the end of the day on April 1, a new payment amount is calculated and that payment must be paid in full before the end of business day on May 1, and so on.

If a payment is not made on time, any unpaid amounts from the previous cycle are added to the current cycle's minimum payment amount. There are multiple ways to find out your payment amount and due date. You will receive a billing notice every month stating the minimum payment amount and when it is due. This will be mailed to you unless you are enrolled in eDocuments. The amount due and next due date can also be verified by viewing your account online through Digital Banking or by contacting us.

Members who earned more than $10.00 of interest during the year will receive a 1099 form in the mail. These forms are postmarked by January 31 of each year.

If you are registered for eDocuments, you can obtain a duplicate copy via Digital Banking by hovering over "Accounts" in the top navigation, clicking on "Statements and Documents" and then clicking on the "Tax Forms" tab.