SHARE SECURE LOAN
A Shared Secured Loan from POE Federal Credit Union is a loan that is secured by funds in the borrower’s POE savings account.
The money used as collateral remains on deposit while the borrower makes monthly loan payments. This type of loan allows members to access funds while simultaneously building or improving their credit history.
Because the loan is fully secured by the member’s own savings, Shared Secured Loans typically offer lower interest rates and flexible terms compared to unsecured loans. Payments are reported to credit bureaus, making this loan a helpful option for establishing or rebuilding credit. Once the loan is paid in full, the secured savings funds are released and remain available to the member.
- 7-year maximum term
- Amount is equal to share balance
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.