Share Secured Loans

The Credit Union Share Secured loan is available for members who are in need of funds but do not wish to deplete their savings. Your share account will be held as collateral for the loan, and once the loan is paid off, the hold is released. You continue to earn interest on this share account during the term of the loan.

Share Secured Loan Specifications

  • Fixed rate of % APR1 for terms up to months Calculate Payment
  • Fixed rate of % APR1 for terms of 25-48 months Calculate Payment
  • Variable rate2 of % APR1, 3 for terms of 49-120 months Calculate Payment
  • Maximum term of 120 months (10 years)
  • Lending is limited to residents of North Carolina, South Carolina, Georgia, Tennessee and Virginia
1 APR = Annual Percentage Rate. APR is your cost over the loan term expressed as a rate.
2 The APR cannot increase by more than 1% each quarter over the previous quarter and cannot exceed 18%.
3 The APR is calculated by adding the index rate to the loan margin. The index rate is the 26 week Treasury Bill Rate set at the first auction held on or after the 15th day of the second month of the previous quarter adjusted up to the nearest 0.25%. The recent index is 1.840% as of 8/19/19. Subject to a minimum index for this product of 6.75%. The loan margin is 2.50%.