Pledged Savings and Certificate Loan

Pledged Savings Loan

Your commitment to saving can provide you with the security you need for a loan. When something unexpected comes up there is no need to take the money out of your savings account. Pledge the money in your savings account as collateral on a loan. As the loan balance reduces during repayment, the pledged amount in savings reduces as well. You do continue earning dividends on any amounts from savings pledged as collateral on the loan as usual. Additional features and benefits are:

  • Low fixed interest rate
  • Fixed monthly payment
  • No penalty for early payoff
  • Minimum loan amount - $500
  • Financing available up to a 10-yr term*

A Pledged Share Certificate Loan is also available by pledging a share certificate at the Credit Union and taking a loan for a term no longer than the remaining term on the certificate.

 

Check out our Loan Rates today and Apply for a Loan today!

 

*The monthly payment per $1,000 at 2.05% for 36 months would be $28.67; monthly payment per $1,000 at 3.05% for 36 months would be $ 29.11; monthly payment per $1,000 at 2.05% for 48 months would be $21.72; monthly payment per $1,000 at 3.05% for 48 months would be $22.16; monthly payment per $1,000 at 2.05% for 60 months would be $17.56; monthly payment per $1,000 at 3.05% for 60 months would be $18.00.

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