Share Secured Loan
A share secured loan uses a savings account as collateral against the loan. It is the best way to build or rebuild your credit. Rates and payments are kept low. If funds are not available to borrow against, please contact us for additional options to build or rebuild your credit.
| Features | Benefits |
|---|---|
| No processing fees | Saves money |
| Competitive fixed interest rate | Saves money |
| No pre-payment penalties | Saves money |
| Payments may be made via Payroll Deduction, automatic payments, Telephone Teller, Online Banking or by phone | Convenient |
| Loan amount can be up to 100% of share savings available balance | Flexible |
| Automatic approval up to the amount of the funds on deposit | Convenient |
| Funds securing loan balance become available as loan is repaid | Flexible |
| Establishes credit history for new borrowers | Peace of mind |
| Member’s Choice™ Borrower Security makes your loan payment in the event of an emergency | Peace of mind, flexible |
| Access to account information in person, by mail, Telephone Teller and Online Banking | Convenient |
