A share-secured loan is one that has a cash reserve as collateral. For example, a member may be qualified for a share-secured loan if he or she already has an existing savings (share) account with the Credit Union.
It is important to remember that the cash reserve must match 100% of the loan’s principal. Upon payoff, the total amount of the cash reserve becomes available back to the member.
A share-secured loan is a great way to build/rebuild credit.
To apply for a Secured Loan please login to online banking.
If you do not have an online banking profile, please enroll in online banking.
Share Secure Loan Rates
| Type | Term | APR1 |
|---|---|---|
| Share Secured Loan2 | Up to 180 Months | 4.50% |
1. APR – Annual Percentage Rate is accurate as of
2. Payment Example: A 48 month share secured loan with a 4.50% fixed APR would have monthly payments of $22.81 per $1,000 borrowed.
