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Police and Fire Federal Credit Union: 2026 Home Equity Review
Bankrate score
4.1
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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Customer score
0.0
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
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SCORE BREAKDOWN
Affordability
5.0
We assess affordability to help you choose a lender that offers the lowest interest rates. Score composition includes loan APR (annual percentage rate); introductory APR (if applicable); and fees.
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Availability
3.1
We assess availability to help you choose a well-situated lender with varied products. Score composition includes footprint; loan types, minimums and draw requirements; and credit score criteria.
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Borrower experience
4.1
We assess borrower experience to help you choose a lender that is transparent, prompt and communicative. Score composition includes ability to see and lock in rates; customer service; and convenience.
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EDITOR'S TAKE
Police and Fire Federal Credit Union (PFFCU) offers both home equity loans (HE loans)and home equity lines of credit (HELOCs) at low rates, on owner- and non-owner-occupied homes (the HELoans) and – most compellingly – without any major closing costs, including application fees. Pity that the footprint is so small: limited to three states and those in the titular professions and their families, plus employees of a few local partner firms.
PROS
- • PFFCU makes its current annual percentage rates (APRs) available online.
- • It offers competitive rates and no closing costs, plus discounts for auto-pay from a PFFCU account.
- • Borrowers can receive a decision about their HELOC or home equity loan in as little as one day when they apply during business hours.
CONS
- • A limited group of people are eligible for PFFCU membership.
- • PFFCU only operates in three states.
- • HELOC has a short draw period, and no lock-in rate options.
Find competitive home equity rates near you
Police and Fire Federal Credit Union overview
A member-owned financial cooperative, Police and Fire Federal Credit Union was founded in 1938 to serve firefighters and police officers in Philadelphia. Since those Great Depression days, it has grown beyond the City of Brotherly Love. It now has $9 billion in held assets and more than 400,000 members across Pennsylvania, New Jersey and Delaware. Currently, PFFCU operates 17 branches in the Greater Philadelphia area.
PFFCU offers two home equity products:
- Home equity loan: The fixed-rate home equity loan comes with two options. The first lets you access up to 80% of the loan-to-value (LTV) ratio of your primary home, up to $600,000, with a five- to 20-year repayment schedule. The second allows you to borrow up to 100% of your LTV ratio, up to $100,000, which you repay in five to 15 years. PFFCU also offers home equity loans on investment properties, for up to 65% of the LTV ratio, up to $200,000, to be repaid in five to 15 years.
- Home equity line of credit (HELOC): PFFCU’s HELOC has a five-year interest-only draw period and 15-year repayment term. You can borrow up to $600,000 to finance up to 80% of the LTV ratio of your primary home.
How Bankrate scored Police and Fire Federal Credit Union
Affordability: 5 stars
- APR: PFFCU offers competitive APRs, several percentage points below Bankrate’s national averages. In fact, its HELOC rates are discounted from the prime rate, but to get the discounted rate you must set up automatic payments using an active PFFCU checking or savings account or distributions from paychecks that are automatically deposited at PFFCU.
- Fees: Police and Fire Federal Credit Union doesn’t charge closing costs or application fees for its HELOCs and home equity loans. However, you can choose to pay $150 for an appraisal upgrade — basically, a new evaluation that confirms the value of the property if the initial appraisal turns up a lower sum than you think it should.
Because PFFCU originates equity-backed loans with limited fees and highly competitive APRs, we gave it a full 5 out of 5 in terms of affordability.
Availability: 3.1 stars
- Loan products: Police and Fire Federal Credit Union offers fixed-rate home equity loans for both primary residences and single-property investment properties. The credit union also offers HELOCs.
- Footprint: PFFCU operates only in Pennsylvania, New Jersey and Delaware — a very limited roster.
- Credit score: Police and Fire Federal Credit Union doesn’t disclose its credit score requirements, unlike some lenders.
- Loan minimum: PFFCU starts its home equity loan amounts at $25,000, a typical minimum. The lender doesn’t disclose a minimum loan requirement for its HELOCs; there's no minimum HELOC draw requirement.
While PFFCU offers a variety of equity-backed loan products, its limited footprint and membership scope make that financing unavailable to most people. As a result, we scored it 3.1 out of 5 here.
Borrower experience: 4.1 stars
- Rate transparency: PFFCU is transparent about its APRs. Its website has a dropdown menu that allows borrowers to see different rates (or in the case of HELOCs, current rates) based on their loan term, size and LTV ratio. (Of course, your actual individual rate also depends on your credit history.)
- Convenience: Borrowers can apply online or at one of 17 locations. You can access HELOC funds by phone, online banking, ATMs or at a branch.
- Customer service: The credit union has a full-service live call center available from 8:30 a.m. to 6:00 p.m. ET Monday through Friday and 8:30 a.m. to 4:00 p.m. ET on Saturday. Its location map also offers a click-through feature to see the operating hours and services of each branch.
- Fixed-rate options: PFFCU doesn’t offer the option to convert your HELOC balance to a fixed-rate loan, unlike many lenders.
Police and Fire Federal Credit Union is clear about its currently available rates but its limited footprint is its Achilles heel, as is its lack of a lock-in rate for the HELOC. We scored it 4.1 stars out of 5 for borrower experience.
How easy is it to contact Police and Fire Federal Credit Union?
When we called PFFCU’s mortgage team, there was no menu or list of options to navigate. Instead, our call went straight through to a representative, who quickly answered our questions about qualifying for a home equity loan with the credit union.
Police and Fire Federal Credit Union reputation
On its site, the credit union touts that it has won several awards in the past few years, including the 2023 Best Credit Union Community’s Choice Awards for Bucks County and Burlington County. It also ranked second on Forbes’ list of Best-In-State Credit Unions 2025 (for Pennsylvania).
PFFCU has an A+ rating with the Better Business Bureau; however, it only has 1.2 out of 5 stars from about 30 customer reviews there (many of the customer reviews cite bank services unrelated to home equity loans).
Compare Police and Fire Federal Credit Union with other lenders
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Selected lender
Police and Fire Federal Credit Union
Bankrate score
4.1
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
N/A
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
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Bankrate score
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
|
Bankrate score
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
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Loan amount |
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Up to $600,000 |
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Min. credit score required |
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Undisclosed |
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Repayment terms |
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Five-year draw/15-year repayment period for HELOCs; five to 20 years for home equity loan |
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Funds available in |
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As little as 1 day |
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Recent customer review |
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Customer review No reviews available yet. N/A |
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Police and Fire Federal Credit Union customer ratings and reviews
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