Savings Secured Loans
One of the smartest ways to borrow is to pledge security for your loan. You will always get the best rates when your loan is secured because our investment is protected, even if you do default on the loan. When a loan is secured, it means that the Credit Union will hold the title to something of value. Items typically used as security (collateral) for loans includes autos, stocks, savings and real estate.
To pledge an item as security you must hold legal title to it or the loan must be used to pay it off. For example, you will not receive the title for a vehicle until it is paid off. So, when that vehicle is being used as collateral, we will make sure that the title is properly transferred into both of our names. It's really fairly simple.
Any of our Loan Officers will be happy to answer any questions that you may have about our loans.