If youāve been saving with a CRCU savings account and need cash ā thereās no need to touch your savings.
A savings-secured loan can give you the cash you need affordably, by using your savings as collateral. And itās a great way to build good credit.
What to know
- Helps build or re-establish credit
- Quick and easy application process
- Borrow using your savings as collateral
- Your savings continues to earn dividends
- Your savings shares become available to you as the loan is paid off
- No penalties if you choose to pay off your loan early
- Loan amount from $500 up to 100% of savings balance
- Credit Life/Disability Insurance is availableĀ
Loan Rates
See current shared-secured loan rates and explore other borrowing options available to you.
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FAQs
Frequently Asked Questions
When will the money in my savings be released?
The hold decreases after each payment is made.
How long is it before I see the loan payments on my credit report?
We report to credit bureau at the beginning of each month.
How often do you report to the credit bureau?Ā
We report once a month.
What is a secured loan?Ā
A secured loan is a loan that lets you borrow money using your own money as collateral.