Open-End Signature Loans

One of the most flexible loans offered by the Credit Union is our variable-rate1 open-end signature loan. Unlimited subsequent advances from this credit line can be made without completing a new promissory note, and there is no set maturity date or repayment term. Advances may be made via the SECU Mobile App, online in Member Access, through ASK SECU, at your local branch, or by contacting our 24/7 Member Services at (888) 732-8562.

Obtain a Loan Advance from an Existing Loan2

For an existing open-end signature loan, process a real-time loan advance below for immediate access to the funds:

1. Obtain via the SECU Mobile App: Perform Advance under the Actions section

2. Obtain via Member Access: Perform Loan Advance

3. Obtain via ASK SECU Voice Response: (800) ASK-SECU or (919) 839-5400

Open-End Signature Loan Specifications

  • % APR3, 4 for new originations
  • Can serve as a protecting account for your Credit Union checking account through your participation in our Overdraft Transfer Service
  • Minimum payment based on the principal balance
  • No need to complete additional loan documentation or speak with lending personnel for each subsequent advance up to the amount of your credit limit5
  • Lending is limited to residents of North Carolina, South Carolina, Georgia, Tennessee and Virginia
1 The APR cannot increase by more than 1% each quarter over the previous quarter and cannot exceed 18%.
2Loan must be accessible through Member Access, Mobile Access, and/or ASK SECU and must be authorized to perform online advances.
3 APR = Annual Percentage Rate. APR is the cost over the loan term expressed as a rate.
4 The APR is calculated by adding the index rate to the loan margin. The index is the 26-week Treasury Bill rate set on or after the 15th day of the second month of the previous calendar quarter adjusted up to the nearest 0.25%. The recent index is 1.840% as of (8/19/19). The loan margin is 4.00%. The index rate for this product cannot be less than 6.75%.
5 Requests for an increase in your credit limit are subject to additional underwriting and credit approval.