How does a share secured loan work?
A share secured loan offers low rates, flexibility, and quick approval. Here’s how it works: you use your existing AFFCU share certificate or savings as collateral for your loan. Continue to earn interest and leave your savings untouched, while still having extra cash at hand. Plus, you won’t need to bother with a credit check or lengthy approval process.
- Quick approval; no credit check required
- The lowest rate with flexible payment options
- Borrow up to 100% of your account balance
- Great for building or repairing credit
"With the expert help of the credit union representative, I was able to make my dream a reality and I can’t thank AFFCU enough.”John Hooper, member since 2014Apply online
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Type Share Secured RateRates Effective as of: 08-07-2020
Term Rate Monthly Payment1 6 to 60 months 1.5% above the pledged share APY $17.31 Apply Today
Subject to change at any time without notice. Membership eligibility required.
1 Monthly payment is based on payment per $1,000 for term and rate shown above. For share secured loans, estimated monthly payment per $1,000 borrowed at 1.5% above the pledged share APY for 60 months is $17.31.
Monthly payment required.