Share & Share Certificate Secured
You may make a loan against your own money by using your share or share certificate account as collateral. Even with the loan, you will continue to earn dividends. This loan is a great means to establish credit for the first time.
- Interest Rate = Fixed
- Share Accounts = 3.00% APY above the previous quarter dividend rate.
- Share Certificates = 3.00% APY above the certificate dividend rate.
- Maximum Term =
- Share Accounts = 24 Months with a Balloon Note Available.
- Share Certificates = Maturity equal to the Share Certificate Maturity with A Balloon Note Available.
- Maximum Loan Amount = 100% of the balance in your share or share certificate account.
- Collateral Secured: Share or share certificate accounts shall be pledged and shall not be drawn below the loan balance.
Application: Minimum Information is required, amount of loan request, applicants name, address, phone number, social security number, and date of birth.
Loan Approval: All loans are subject to credit approval and are based on current policies and procedures.
Loan Officer: Cathy St Aubin