Share Secured Loan

VCCFCU allows you to borrow money without cashing in your certificate before maturity or sacrificing the dividends you earn on your savings. Borrowing against your own savings for any of your borrowing needs is the lowest cost loan available at VCCFCU. Welcome to the world of share-secured & certificate-secured loans. Repayment terms are flexible and credit approval criteria are minimal. You will continue to earn dividends on your savings or certificates, and you’ll pay a low interest rate on your loan. Perfect for establishing or rebuilding credit, share and certificate secured loans are also ideal for providing your own financing at an extremely low rate while maintaining your savings balance.

  • Share or certificate account is used as collateral
  • We loan up to 100% of the account balance
  • Loan term up to 10 years
  • The interest rate is fixed at about 3% above the rate the securing shares are earning
  • Funds in the share or certificate account continue to earn dividends.
  • The funds are held in the share or certificate account during the loan term. As the loan is paid down, your shares become available for use.

 

Current Rates
APY
Regular Shares 0.25%
Youth Shares 3.03%
Share Draft 0.20%
IRAs

0.75%
APR
Share Secured 3.50%
Any Purpose 12 mo 3.99%
Debt Consolidation

4.99%