Frequently Asked Questions

To increase your existing HELOC/home equity line of credit, you will need to go through the application process and qualify for the new line amount based on your credit history, home value and lien position. 

If you have a loan at another financial institution, we will be happy to help you save money by refinancing that loan at LOC. We are unable to refinance existing LOC loans for a lower rate.

LOC can provide a letter stating the title is electronic and can have it released once the lien is satisfied. 

After the lien is released, we can request the physical title be mailed to you. You would then need to sign off on the seller section, and then it can be given to the purchaser. If you do not want to wait for the physical title to come in the mail, the seller AND buyer are able to go to a Secretary of State location and request the title be changed,but only 24 hours after the lien is released. The Secretary of State may charge fees for this service.

Your collateral lien status can be checked through this state link, you will need your VIN: https://dsvsesvc.sos.state.mi.us/TAP/_/#0 
Click on Search for Liens and Brands under Vehicle Searches
 

If you closed on your loan with LOC Credit Union after March of 2021, your title may be Electronic. The State of Michigan decided to move to electronic titling when there is a lien. Electronic titling became mandatory as of October 1, 2023, for all new titles with a lienholder. LOC is able to pull a copy of the electronic title that can be provided to you at your request. This copy provided does not serve as a paper title. 

If you closed on your loan prior to March of 2021, you should have a paper title (Michigan is not a title holding state).  You may visit a Secretary of State office that provides instant title services;however, the state will charge you a fee to get a copy.

You can apply for a loan online, in a branch or over the phone. 

You can request an increase to your Visa Credit Card limit by stopping by a branch, calling us or requesting the increase by using our online loan application. One of our underwriters will review your increase request.

You can set-up automatic recurring paymet in online banking.

It can take up to 3 weeks for your to receive your title. 

Once the lien is satisfied, LOC Credit Union will notify the Secretary of State that the lien has been released and request that the Secretary of State send out a paper title with no lien on it to you. This can take up to three weeks once we notify the Secretary of State.

If the loan is paid off by any type of check, LOC will wait 10 business days before releasing the lien with the Secretary of State. Once the lien is released, you may go to a Secretary of State office after 24 hours and request an instant title for a fee if you do not want to wait for the paper title in the mail.

If the loan is paid off with cash, wire, or funds that have been on deposit for more than 10 business days, LOC can request a lien release the same day. At that time, LOC will request the Secretary of State to mail a clear title to the address on file for you. Once the lien release has been submitted, you can go to a Secretary of State location after 24 hours and request an instant title for a fee.

Most of our rates depend on your credit score, term of loan and amount financed.  We quote our lowest rate on our website. Once you apply, you will be provided an initial rate based on the information on your application and credit report.

You can get payoff information in online banking, in automated telephone banking or by speaking to a representative during business hours.