Share Certificate Secure Loans – POE Federal Credit Union

A Share Certificate Secured Loan is a type of secured personal loan that lets you borrow money using your own share certificate (similar to a certificate of deposit) as collateral, rather than using outside property or unsecured credit history.

The maximum you can borrow is usually linked to the balance of your share certificate (often up to 100% of the value).

Lower Interest Rates – Because the loan is backed by your own certificate, the credit union often offers lower interest rates than unsecured personal loans.
Keeps Your Certificate Earning – You continue earning dividends (interest) on the share certificate while borrowing against it, avoiding early withdrawal penalties.
May Be Easier to Qualify For – Since the loan is fully secured, credit unions often have less stringent qualification requirements (compared to unsecured loans), which can help members who are building or rebuilding credit.
Builds or Rebuilds Credit – Making on-time payments on the loan can positively affect your credit history because it adds an installment loan that could improve your credit mix and payment history, which are key credit scoring factors.

For more information, visit one of POE Federal Credit Union’s branches or contact a loan specialist to get started on Shared Secure Loan today.