Share-Secured Loans

A share-secured loan is a way to use your own money that is in your savings account at the CU to obtain a loan at the credit union.

  • The money in your account serves as a pledge or as collateral for the loan.
  • The rate for this loan is 5.00% APR above our current declared dividend rate for the regular share savings account.
  • This type of loan is a way to help establish or repair credit and sometimes we ask for a $100 pledge for a $100 share-secured line-of-credit when a member has limited or no credit history.
  • Oftentimes, members were going to spend their savings for a purchase, but instead obtain a share-secured loan to ensure that they keep their savings intact and prefer to make monthly loan payments at a very affordable rate.

Our Members make the difference.

Member Since 1982

Alison is credited with inspiring the founder of Genesee Co-op FCU, David Knoll, to become an organizer of the credit union. According to David, "Alison said to me 'You need to start a credit union!' With the information and contacts she provided me, I worked to get Genesee Co-op FCU going." THANK YOU ALISON!!

"I was an early joiner. I'm supporting what I believe."

Alison Clarke


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