Maximize HUECU Benefits: Webinar FAQs
Is my money safe at HUECU? Is HUECU impacted/dependent on Harvard Endowment?
HUECU accounts are safe and secure. As a state-chartered credit union, HUECU is organized under strict laws monitored and enforced by the National Credit Union Administration (NCUA) which insures each member account for at least $250,000. The Massachusetts Credit Union Share Insurance Corporation (MSIC) insures all deposits that exceed the federal insurance limits of $250,000. HUECU is a separate financial entity from Harvard University and does not depend on, or use, the University’s Endowment.
How do I select the best debt repayment strategy for me?
Determining the best financial strategy for you will be based off your specific situation and the repayment options available to you. We encourage you to review our repayment options at https://huecu.org/covid-19-help/financial-support/ and contact a GreenPath Financial Wellness counselor (www.huecu.org/GreenPath) to determine what strategy may be best for you.
When will the 2020 application process begin for new members of the HUECU Board of Directors?
Directors are elected annually in March, the deadline for applications is the end of December of the prior year. The 2020 application process closed in December 2019. For members interested in applying for the 2021 Board of Directors, you may view the Board of Director’s application at https://huecu.org/meet-huecu/board-application/.
Does HUECU finance homes outside Massachusetts?
HUECU finances home mortgages on properties located in MA, NH and RI. You may contact a Mortgage Loan Expert for specific questions about your situation. www.huecu.org/home-loans.
Who is eligible to refinance their student loans with HUECU?
Individuals eligible for HUECU membership may refinance their federal and/or private student loans with HUECU at https://huecu.org/education-loans/refinance.
HUECU membership is open to all Harvard affiliates, including faculty, staff, students, alumni, and retirees of Harvard University, Harvard teaching hospitals, and affiliated organizations. Once you’re a member of HUECU, everyone in your immediate family also becomes eligible. For a list of all eligible institutions, visit https://huecu.org/membership/eligibility/.
Is now a good time to refinance my mortgage?
Mortgage rates are currently at historic lows which provides great opportunity for members to save by refinancing. Since every situation is different, we recommend contacting our Mortgage Loan Experts to discuss your specific situation at www.huecu.org/home-loans.
What criteria do I need to meet to be approved for a loan?
Loan eligibility will depend on the loan you are applying for. We encourage you to apply for the loan product directly to learn what your application decision will be. Most loans will require a good credit score and ability to repay the monthly loan payment, the specifics will vary on the type of loan. In certain situations, our team may be able to work with applicants who are denied to determine other financial options that may be available for you.
Does HUECU offer financial counseling?
Our partners at GreenPath Financial Wellness provide our members with free budgeting, credit and COVID-19 counseling. GreenPath counselors are available 6 days a week, during evening hours, and provide counseling in multiple languages. GreenPath counseling is a benefit of your HUECU membership- www.huecu.org/GreenPath.
Where can I find loan rates?
Our rates are available at https://huecu.org/resources-info/rates/?q=rates.
Will the Spring Home Buying Forum be rescheduled?
The Spring Home Buying Forum may be rescheduled for a later time. However, we anticipate that it may be held virtually to adhere to social distancing guidelines. To attend an upcoming Home Buying webinar, led by our home buying experts, please visit www.huecu.org/workshops. You may also contact our Mortgage Loan Originators at www.huecu.org/home-loans to set up a time to speak about your specific home buying goals.
What should I do if I'm not comfortable with online banking or banking in person?
We understand that not everyone is comfortable transitioning to online banking. To help our members, we have created online tutorials (www.huecu.org/Online-Banking) and our Support Center (https://huecu.org/support/) is available to walk members through their online transactions. For members that opt to bank in person, we have added new measures to meet social distancing and disinfecting guidelines.
Does HUECU charge to transfer your car loan?
We do not charge for you to refinance your auto loan with us. To learn more about our auto loan refinancing special, please visit https://huecu.org/auto-loans/refi-special/.
How do I apply for Skip-A-Payment?
You can apply for Skip-A-Payment on our Financial Support page: https://huecu.org/covid-19-help/financial-support/.