Share Secured Loans
A Share Secured Loan can offer a lower rate than other types of loans because it uses funds in a savings account — either a share account or share certificate account — as collateral for your loan. The funds will be “frozen” from use and made available as the loan payments are made. For example, if your loan is $1,000, this amount would be “restricted” or “frozen” from use in your savings account.
Benefits:
Help build credit
Low, fixed interest rate with predictable monthly payments
Funds may be used for anything
Flexible terms so your payment will fit your budget
Maximum loan amounts based on amount on deposit
Continue to earn dividends on your deposited funds
Call or email with questions, or Apply Now with our online loan application!