|
A Share Secured loan allows you to borrow against the money you have in your Share Savings account. The amount of money you borrow against your Share Savings is simply put “on hold” status. As you pay on the loan, the corresponding “on hold” amount in your Share Savings is released.
Why get a Share Secured loan?
-great way for first time borrowers to establish credit
-great way to re-establish good credit, if your credit is “less than perfect”
-rates are typically much lower than an unsecured loan
-rates are 3% over the share dividend rate
-your Share Savings continues to earn dividends
|
