When it comes to personal loans, it pays to explore your options. While many types of loans require some kind of collateral or guarantee to help get you the money you need, Share Secured Loans offer a unique approach to providing collateral and getting you access to the money you need for all of life’s expenses.
Share secured loans help you get a lower rate on loans by using your share certificate account as collateral. The loan interest rate would be only 2% above the rate your Share Certificate funds earn. Your share certificate would continue to earn dividends during the duration of your share secured loan, and you’ll get the flexibility you need to spend and repay your secured loan however you need to.
- Minimum Loan Amount: Based on deposit amount in certificate*
- Terms: Up to Maturity Date of certificate
- Payment Options: online or mobile banking, at a branch, via CU by Phone, mail, or through payroll
- Pre-payment penalties: None
- Interest Rate: 2% above the Certificate Yield
- Debt protection available to qualified members
*Loans subject to credit approval