*APR = Annual Percentage Rate. Rates are variable and vary with Prime Index Rate as published by the current Wall Street Journal. We add a margin to the index to determine the actual interest rate. The variable rates as of 3/1/2025 are 7.25% - 10.00%, depending on member credit qualifications including credit and employment history, and amount of equity in the property. Our rates do not go below 3.75% or above 15%. Promotional waiver of closing costs pertains to all costs required to open the line of credit except for any required appraisal. If an appraisal is required, borrower will be required to pay for such appraisal, normally $775 or more. If the Home Equity Line of Credit is paid off and closed within the first 36 months, waived closing costs must be repaid to the credit union (up to $300) as fee reimbursement. Minimum loan amount is $10,000, and minimum fixed-rate conversion amount is $5,000, but there is no minimum advance requirement. Credit is subject to approval, not all applicants will qualify. Fees that occur after the line is opened, such as annual fee ($35), reconveyance fee and quit claim deed recording fees are not considered closing costs. Flood and/or property hazard insurance may be required and are also not considered closing costs. All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. All loans subject to approval of property. Promotion is valid for applications taken between May 1, 2025 and July 31, 2025 (and the loan must be funded no later than August 31, 2025). Promotional period subject to extension at Credit Union’s discretion.
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Official Rules
Build Stability Giveaway Administration Build Stability Giveaway is being administered and operated by iQ Credit Union. Build Stability Giveaway promotion period runs from 12:00 AM on May 1, 2025 until 11:59 PM on August 31, 2025. You will receive five (5) entries into the giveaway. Promotion details, including timelines, may change at iQ Credit Union’s discretion. The winner will be selected by a random drawing no later than two (2) business days following the end of the promotion and will be notified by telephone or email only. The winner need not be present to win. If the winner does not respond within five business days, the Credit Union will redraw.
Eligibility To be eligible for the promotion you must be a lawful permanent resident of the United States, 18 years of age or older. Employees of iQ Credit Union, Board members and their immediate family members are not eligible to participate.
Entry Any iQ Credit Union member who has their Home Equity Line of Credit loan funded during the promotional period of May 1, 2025 through August 31, 2025 will be entered into the drawing. Drawing will be held no later than two (2) business days following the end of the promotion. The winning entry will receive a payment from iQ Credit Union of $2,000. The payment will be made within 7 business days of notifying the member.
Alternative Mail-in method of entry If you desire to enter the Giveaway other than having a Home Equity Line of Credit funded, hand print your name, address, day and evening phone numbers, email address, and date of birth on a 3” x 5” index card and mail it in an envelope with proper postage to “Build Stability Giveaway” c/o Marketing Department, PO Box 1739, Vancouver, WA 98688. You will receive one (1) entry into the Giveaway. Limit: One (1) entry per envelope and a total of one envelope during the promotional period. All mail-in entries must be handwritten and must be postmarked by August 24, 2025. All entries become the exclusive property of iQ Credit Union and will not be acknowledged or returned. Proof of sending or submission will not be deemed to be proof of receipt by iQ. iQ is not responsible for lost, late, incomplete, invalid, unintelligible, illegible, misdirected or postage-due entries, which will be disqualified. Entries received through alternative method of entry are eligible for a $2,000 cash payment.
Prizes A total of one (1) winner will be selected by random drawing no later than two 2 business days following the end of the promotional period. The prize winner will be randomly selected from all eligible entries. Odds of winning are dependent on the number of entries received.
General Conditions The value of Build Stability Giveaway prize may be reported to the IRS. The winner is responsible for any federal, state, or local taxes on the amount. Void where restricted or prohibited. Prizes are non-transferable, non-assignable and non-exchangeable. Consent to Publicity and Release Except where prohibited, participation in the Giveaway constitutes each winner’s consent to iQ Credit Union and its agents’ use of winner’s name, likeness, photograph, voice, opinions and/or hometown and state for promotional purposes in any media, worldwide, without further payment or consideration.
Miscellaneous By participating in Build Stability Giveaway, you agree to comply with all the terms and conditions mentioned herein. Noncompliance with any entry procedure will result in disqualification. Furthermore, any attempt by any entrant to obtain more than the stated maximum number of entries by using multiple/different addresses, identities, or any other methods will void that entrant’s entries and that entrant may be disqualified. Use of any automated system to participate is prohibited and will result in disqualification. No purchase necessary. For winner information and inquiries mail iQ Credit Union PO Box 1739, Vancouver, WA 98688.
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