Share Secured Loans
Borrow against the money you already have on deposit in your Share account. When borrowing against your money, you get one of our lowest loan rates and continue to earn competitive dividends on your savings.
Features:
- Minimum loan amount $500
- Funds are “frozen” to match the principle balance of the loan
- Interest accrued on funds are frozen in Share Account
Benefits:
- Borrow against savings for a low rate
- As payments are made, the amount posted to principal is automatically released for member access
- On-the-spot approval: no credit check required
- Members can build or rebuild their credit
- Direct Deposit or Automatic Payroll Deduction for paying back loan
