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Earn While You Borrow

Savings Secured Loans

A Savings Secured Loan from Soarion Credit Union is a low-interest, low-risk loan that uses your own money as collateral.

Questions? Book Appointment

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About Savings Secured Loans

Need to make a purchase but don’t want to spend all of your savings? Use your Soarion Primary Savings or Secondary Savings Account as collateral. You can borrow up to 100% of the amount that you have in your Savings.

A Savings Secured Loan can also help you build or reestablish credit, and as an added bonus, there’s no credit check.

    Savings Secured Loan Features

  • No credit check required


  • Fixed interest rate for the life of the loan


  • As the loan is paid off, secured funds become available to you


  • Borrow up to 100% of your account balance


  • Funds in your Savings Account continue to earn dividends


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    Savings Secured Loan Benefits

    Low Rates

    Build or Repair Credit

    Less Risk

    Flexible Terms

     

    Already a Soarion Credit Union member?
    Either log in to Digital Banking or stop by a Soarion Financial Center to apply for a Savings Secured Loan.

    Savings Secured Loan Rate

    Rates effective as of:

    Term APR*
    6 to 60 months 2.5% above the pledged Savings Account APY

    * APR = Annual Percentage Rate. Membership eligibility required. Rates subject to change at any time without notice. 

    Savings Secured Loan payment example: $5,000 borrowed at 2.6% (2.5% above the pledged Savings APY of .10%) for 60 months will have an estimated monthly payment of $89. Use a Soarion Financial Calculator to calculate loan payment amounts.

    Credit When You Need It

    A Line of Credit is open-ended can be borrowed against at any time.
    Learn More