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Share Secured Loans

If you need money for something important, but want to keep your savings intact, consider the merits of a cost-effective Cenla FCU Share-Secured Loan. First and foremost is the interest rate: It's low! That's because you're using your own savings as collateral for the loan. Choosing to collateralize your loan in this manner allows us to offer you a lower interest rate for the life of your loan.

Share secured loans use savings accounts or certificates to secure loans. For savings-secured loans, the loan amount plus interest can total up to 100% of your account balance. What's more, it’s a great way to establish credit.

Cenla FCU savings-secured loans offer a variety of benefits to members:

  • APR as low as 2%*
  • Convenience of using savings as collateral
  • Fast approval
  • Low interest rates
  • Borrow up to 100% of savings account balance
  • Terms of up to 72 months or the remaining term of the account, whichever is less
  • Generally lower loan rate than other types of secured loans
  • Simple application – there is less paperwork because your loan is secured
  • Fixed term, fixed rate – you know exactly how much you’ll pay each month, making it easy to budget
  • Your savings continues to earn interest