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Secured Loan

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A share secured loan is a loan that is secured by funds in your share account or share certificate account.  The loan amount is put on “hold” in the corresponding account and you will continue to earn dividends. As you pay down your loan, the “hold” amount in your account is released back to you as available funds.

  • Secured loans are based on your available balances and can be used for any purpose.
  • Rate is 2% above the current share savings or share certificate dividend rate.
  • The maximum loan term is  or the remaining term of the certificate.
  • Convenient payroll deduction or automatic payments.
  • Payments can be interest only or a fixed payment at the maturity of the certificate.
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