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.
You can apply using our online loan application here.
Our Members make the difference.

Member Since 1993
"I was working at Godiva's clothing store on Monroe Avenue when the credit union opened just down the street; so I decided to use them for my checking and savings accounts. Everyone there was friendly and community-oriented. Then I needed a used car loan and they helped with that too. Most importantly, in 2004, I got my mortgage through them, a 30-year-fixed at less than 6 percent interest. It took about a year to secure because the house had to be rehabilitated but they helped me discover the Southwedge Planning Committee to make it happen. It was exciting. They also helped my wife, who is from Colombia (South America), establish credit. In the meantime, they've helped me with my second and third car loans. I like the fact that they're in the neighborhood and when you walk in, the atmosphere just feels friendly. One of my friends had her artwork displayed on the walls. The credit union has helped me a lot and I've always referred my friends there."