Secured Loan Credit Union
Getting money to move your life forward is important. So is building up your credit rating or securing a lower loan rate. Doing all these things at the same time? That can be a win-win-win situation.
Another way to put your savings to good use
Sometimes, you can use a little financial breathing room. And sometimes, a few extra dollars lets you do something extra special for your family. With a Secured Loan, the deposits in your savings or certificates could help you qualify for a Visa credit card or access cash at affordable rates.
Share Secured Loans
Use your Share Savings account balance as collateral for a loan - and to possibly qualify for a lower rate.
- Maximum loan amount is $100,000
- Repayment terms depend on amount borrowed
- Rate is 3% above the current regular savings rate
Certificate Loans
Want to borrow money without digging into your savings? Borrow at an affordable rate using the balance in your certificates as collateral.
- Ballooned loans with minimum interest payments due on a monthly basis
- Interest payments required monthly
- Loan due in full at maturity date of Certificate
Secured Visa Card
Enjoy the convenience of having a Visa credit card even if you have less than perfect credit or no credit.
- Great way to start building credit
- Low interest rate
- Minimum savings deposit of $250
- Minimum credit limit of $250
- Low monthly payments
Credit Builder Loan
With a credit builder loan, you can establish credit and still earn dividends. Once you pay off the loan, the money becomes available in your share account.
- Rate is 3% above the current regular savings rate
- 12-month maximum term*
- Borrow between $250 and $1,000
All loans are subject to approval.
*Payment example: For a $1,000 loan for a term of 12 months with a 3.15% APR, the monthly payment will be $84.76. Rates, terms and conditions are subject to change and vary based on creditworthiness and qualifications.
