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Personal Loans

With SECU’s range of personal loan options, you can fund big projects or maintain financial flexibility when life throws something unexpected your way.

Personal loan offerings

SECU personal loans are available to members 18 years or older, living in North Carolina, South Carolina, Georgia, Tennessee, or Virginia. Explore personal loan options to get the extra money you may need at a monthly payment that fits your budget.

Signature loans

Looking to fund a dream vacation, consolidate debt, or pay for a wedding? Our Open-End and Closed-End Signature Loans can provide the financing you need to meet your goals.

Term notes

Need to borrow money for a brief time period? Our Signature Term Note is a fixed-rate loan with a set term. You receive the agreed-upon amount to use as you need. Then, when your term is up, you make one convenient payment for the total amount borrowed and interest owed. We also offer Share-Secured and Share Term Certificate-Secured Term Notes, which use the value of your Share or STC Account as security for the loan.

Salary Advance Loan

Is your paycheck directly deposited in one of your SECU accounts? You may be eligible for a Salary Advance Loan, which can provide up to $500 deposited directly into your account.Funds can be advanced through Member Access, our Mobile App, or ASK SECU our automated voice response system.2

Share-Secured Loan

Get access to needed funds without depleting your savings. Funds in your Share Account are used as collateral for the loan. Once the loan is paid off, the hold on your Share Account is released. You continue to earn dividends on this Share Account during the loan term.

Qualifying for a loan

The goal of our lending services is to provide lending options to members at a fair and competitive rate. Loans are assets of SECU, and we strive to help members by offering loans that mutually benefit our members, while protecting our assets. We accept applications online, by phone, or in the branch and aim to respond to your loan request within the same business day.

What we evaluate

We review your application and make decisions based on your ability to repay, credit history, and collateral.

  • Ability to repay

    Your ability to repay current and proposed obligations is critical for loan approval. We determine your ability to repay by reviewing the following:

    • Your income before taxes and other withholdings and any additional available income.3
    • Your monthly obligations and debts such as mortgage or rent payments, vehicle loans, and credit cards.
    • Your debt-to-income ratio (your monthly debt payments each month compared to your monthly income).4
  • Credit history
    • We consider your payment history on any SECU loans and review your credit report to observe past performance on other credit obligations to evaluate your willingness to repay future obligations.
    • A credit report that reflects late payments, judgments, accounts in collection, or bankruptcy may hinder your ability to borrow money. If this is the case, we may be able to provide you with a loan to help you pay off unpaid or past due debts and begin the process of improving your credit report. We may also consider approving a debt consolidation loan to make your monthly debt payments more manageable. If you are a new borrower, we may be able to help you establish a credit record.
  • Collateral
    • We assess the value of the asset securing a loan (e.g., home or vehicle) to determine the collateral’s value to the requested loan amount (i.e., loan-to-value ratio or LTV).
    • You can also assign funds in your SECU Share or Share Term Certificate Accounts as collateral for some loans. Retirement funds can’t be used as collateral.

What if I don’t qualify for a loan?

If we can’t approve your loan request, you will receive an explanation for the denial. When possible, we may offer an alternative to your request. Want to improve your qualifications for future loan requests? We can review your credit report and budgeting through our Financial Advisory Services.