Savings & Certificate Secured
SSSCU secured loans such as savings or certificate secured loans feature attractive rates of interest and terms. Members pledge their certificates or balances in their savings account(s) as collateral. The loan rate is fixed at three percent over the savings or certificate rate. Leaving your savings in place, you continue to earn interest, while you take advantage of using the loaned funds.
Acceptable security such as certificates and savings on deposit
- Up to 100% of security held on deposit
- Borrow up to the maximum balance of account minus $100
- Maximum 144 months repayment schedule
- Flexible repayment schedules: weekly, biweekly, monthly
- Deposits held in Money Market accounts and IRAs are not eligible to be offered as collateral
