Features & Benefits
A Secured Personal Loan can help you build credit with on-time payments, setting you up to earn better rates on future loans.
What is a Secured Personal Loan?
A secured loan means you must pledge collateral when you apply. For this loan, that pledge is a deposit in either a qualifying Share or Certificate of Deposit (CD).1
How does a Secured Personal Loan work?
The easiest way to think of a Secured Personal Loan is as a loan to yourself. For example, if you pledge $500 in a collateral deposit, you will receive a $500 loan in return. Your payment activity is then reported to the credit bureaus over the life of your loan. Once your loan is paid-in-full, your collateral deposit is returned to you.
Remember, unlike a traditional personal loan, a secured loan is meant to help you build credit, even if you have no credit or imperfect credit.
Rates, Terms & Payments
With rates low rates and flexible terms, you have options for finding the perfect monthly payment for your budget.
Share Secured Loan
|Up to 36||3.00% above existing deposit rate|
Certificate Secured Loan
|Up to Certificate Maturity Date||3.00% above existing deposit rate|