Deposit Secured Loans
Lower rates, less worry
Deposit secured loan rates are lower than traditional loans because we hold the collateral at SECU.
What accounts can be used as collateral?
If you use your share savings account as collateral, allow $10 extra to remain on deposit to maintain your SECU membership.
What accounts can’t be used for collateral?
- An individual retirement account (IRA), SEP, or Keogh plan.
- A joint owner of a savings, money market, or CD may not borrow against the owner’s account.
- An adult custodian on a custodial account may not borrow against the primary owner’s account.
Convenient payment options
You should enjoy what you’re going to do with your loan, not stress about payment options. We make repayment as easy as possible with these convenient options.
- Transfer funds from your SECU checking account to your loan account using online banking, 24-hour banking, or any SECU ATM.
- Have your payment automatically deducted from your SECU checking account.
- Mail your payment with the loan payment coupons we provided.
- Drop off your payment at any SECU financial center.
