Earn While You Borrow

Savings Secured Loans

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

 

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

 

About Savings Secured Loans

Need to make a purchase but don’t want to spend all of your savings? Use your AFFCU 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


    Savings Secured Loan Benefits

    Low Rates

    Build or Repair Credit

    Less Risk

    Flexible Terms

     

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

    Savings Secured Loan Rate

    Rates effective as of:

    Term APR*
    6 to 60 months 1.5% 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 1.6% (1.5% above the pledged Savings APY of .10%) for 60 months will have an estimated monthly payment of $87. Use an AFFCU 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.