Folsom, Calif. – (Sept. 18, 2025) – SAFE is introducing a new real estate lending product feature credit union leaders say gives borrowers more control over their personal finances when they may need it.
The Folsom-based credit union, serving members in 13 Northern California counties, is now offering an Interest-Only Home Equity Line of Credit (HELOC) Payment Plan. The payment plan allows qualified borrowers to temporarily make interest-only payments on HELOCs during the draw period, the time frame in which borrowers can draw from their approved credit limit.
“With this new SAFE loan product, we are providing our members added control over their monthly budget and overall finances,” says SAFE Credit Union Senior Vice President of Real Estate Lending Michael Popp. “We hope this gives our members, and prospective members, a little bit of breathing room when they may need it and help them build upon their own financial freedom.”
SAFE Credit Union Senior Vice President of Real Estate Lending Michael Popp
Homeowners can use home equity lines of credit or home equity loans to consolidate debt, make home improvements, pay for college tuition, cover various expenses, or handle emergencies.
With continued increases in inflation, Popp says the flexible HELOC payment option demonstrates SAFE’s commitment to increase much-needed value for its members.
“We know that home sales were down in July, by 0.6 percent (according to the United States Census Bureau),” he says. “Seemingly more homeowners are choosing to stay in their homes because of higher interest rates, home costs and a tighter housing supply. This has made taking out a home equity loan or home equity line of credit very appealing to many homeowners.”
Popp also points out the new product aligns with the credit union’s recently launched advertising slogan: “SAFE. For What’s Next.”
“This is a great example of how SAFE is focused on supporting our members for what may be coming up for them next in their financial life,” Popp says. “Alternatives like the HELOC Interest-Only Payment Plan can improve our members’ financial livelihoods.”
The credit union is also offering a 6-month introductory rate on HELOCs through the end of 2025.
Additionally, SAFE provides Quick Access Loans. Qualifying borrowers can avoid accruing high interest debt from predatory payday loans by applying instead for short-term small loans they can use for unexpected expenses.
SAFE is a not-for-profit financial cooperative that shares profits with its members through low interest loan rates and fees, and competitive dividend rates on savings.
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About SAFE
SAFE Credit Union has made members an integral part of its vision since 1940. Over the years the credit union has kept the focus on what really matters, putting members first, a formula that has seen SAFE grow into a leading financial institution in Northern California with $4.3 billion in assets and about 244,000 members. SAFE crafts every cutting-edge product and sterling service with members’ needs foremost in mind. In addition to banking services conveniently available through online, chat, mobile, or phone options, SAFE offers in-person services for members and small businesses at service centers across the Greater Sacramento region. SAFE is a not-for-profit, state-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. Equal Housing Opportunity Lender. Insured by NCUA. www.safecu.org