A Credit Union 1 Secured Loan offers lower interest rates and is a great option for building your credit or making a purchase without dipping into your savings. We allow you to use your money in a Savings or CD with us, as security to borrow at just 3% - 6% above your earnings rate 1 .10/22/2020 · With a share secured loan, you don’t need to go through the hassle of applying for a typical loan because your credit union considers it a low-risk loan. The requirements are very minimal and not as stringent as other types of loans. You Can Build Credit. If you want to improve your credit score by building good payment history, a share secured loan is an easy type of loan that you can get approval loans are loans secured by a type of collateral. The collateral may include a certificate of deposit that you have with us, your savings account or another item of value. These loans are used to build credit and tend to have a lower interest rate than unsecured loans. Loan Number: 806-322-5626 (LOAN)11/28/2020 · Secured Loans A secured loan can also help you get approved and help you improve your credit scores for the next time you need a loan. To get a secured loan, you’ll pledge some sort of collateral, which the credit union can take if you fail to make your payments. You don’t need to pledge your house, car, or jewelry—cash secured loans use money in your account to help you get can pick up your Savings Secured Loan today! Another great feature of taking our Savings Secured Loan is you could earn an Interest Rebate of 10%. So while you are charged 41% DIRT tax on any dividend you may earn from your Savings we could give you back 10% of the interest you have paid on this to Join, Apply, and Borrow From a Credit UnionHow to Join, Apply, and Borrow From a Credit UnionCredit Union Loans: What to Know | Credit KarmaFAQs About Share Secured Loans - SIU Credit Union
