Drive down your auto loan rate

HomeFREE Discount Program

Lower your auto loan rate

Being a SESLOC member has benefits, especially for those with vehicle loans. When you set up and schedule automatic recurring transfers to make loan payments from a HomeFREE Checking™ account, we'll take 0.25% off your loan's annual percentage rate.* It's our way of saying "thank you" for being a member.

Why HomeFREE Checking?

We keep it simple by offering one account, the best account on the Central Coast. Not only will you have no minimum balance requirement and no monthly fees, you'll get reward points for every debit purchase and FREE Identity Theft Services,** all valued at hundreds of dollars per year. Take a look at 17 more reasons to be HomeFREE.

How to Activate Your Discount

If you received a new vehicle loan in the last 60 days, make an appointment at your nearest branch to open your HomeFREE Checking account. We'll schedule automatic transfers to make your loan payments. Already have HomeFREE Checking? Call our Contact Center at (805) 543-1816 or visit your nearest branch to get started.

If you're getting a new vehicle loan, be sure to let us know during the application process that you're interested in the HomeFREE Discount Program.

Eligibility and Requirements

  • Only available for consumer vehicle, recreational, boat and RV loans funded within the last 60 days. If your loan is more than 60 days old, a refinance application is required with a refinance fee of $150.
  • Discounted rate begins after the loan is funded and member meets program eligibility and requirements, and will continue as long as program eligibility and requirements are met.
  • If you set up automatic transfers from your HomeFREE Checking account in Online Banking, the discount is not applied. Please be sure to call us at (805) 543-1816 or visit a branch to set up automatic payments.


*The HomeFREE Discount Program (Program) is available within the first sixty (60) days after original loan date to those with a consumer vehicle loan. If your consumer vehicle loan is more than sixty (60) days old, a refinance application is required and a $150 refinance fee applies. To be eligible for the Program, you must agree to maintain a consumer HomeFREE Checking account to qualify for the initial loan discount, and set up automatic recurring vehicle loan payments via transfer from your SESLOC HomeFREE Checking account. If you cancel your automatic recurring vehicle payments you will no longer be eligible for the Program and your Annual Percentage Rate (APR) will increase by 0.25% as disclosed in your Loan Agreement(s). The increase in the rate will result in more payments of the same amount. You will not be provide a separate notice if the discount is discontinued. See your Loan and Security Agreement and Disclosure and Subsequent Action Agreement (if applicable) for complete loan terms and conditions. If you fail to maintain eligibility in the Program and the discount is discontinued, your loan cannot again qualify for the Program, even if Program criteria are met. HomeFREE Discount Program cannot be combined with any other special offer or promotion. Membership in good standing required for all credit union benefits.

** Identity theft insurance is underwritten by Lyndon Southern Insurance Company, a member of the Fortega family of companies. The information provided is a program summary. Please refer to the Identity Theft Expense Reimbursement Evidence of Coverage forms for additional information including details of benefits, specific exclusions, terms, conditions and limitations of coverage. Coverage is currently not available to residents of the state of New York and may not be available in other U.S. territories or jurisdictions in the future. 2 Applicable to individuals age 18 and older who have a valid credit file. Credit monitoring, report and score are provided by TransUnion, subject to change. This credit score may not be consistent with the credit score model used by a lender, and therefore cannot be relied upon to determine credit worthiness for any particular loan opportunity.