Savings/Certificate Secured Loan
Funds may be pledged from your Primary Share or Share Certificate account to secure a loan. When money is pledged on an account a "hold" is placed on the money. This "hold" prohibits withdrawals.
- Up to 100% of the available (collected) funds
- As the loan principal decreases, the pledged amount decreases
- Balloon or monthly payments available
- Instant and automatic approval
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Why would I borrow against my savings?
Borrowing against your available savings allows your account to continue to earn dividends while reducing your finance charge to a minimum.
Who would benefit from this kind of loan?
Members seeking the lowest rate loans. Members needing to establish or rebuild credit. Members requesting early CD withdrawals.
See Disclosure with Loan Application