When you secure a loan with your savings account or a certificate, it almost always means you’ll pay a lower rate than with an unsecured loan. So, if you need a quick and less expensive loan, a MemberSource secured loan may be the way to go.
Personal Computer or Furniture
When you’re just starting out—or starting over—furniture can be a rather expensive necessity. We’re here to help with a $1000 minimum, fixed rate, 36-month loan that pays for 100% of the purchase price. Add payment protection to it, and you’ve got a great loan with outstanding peace of mind.
What you use the money for is up to you. Your maximum borrowing limit is based on the amount you have in your share account and the rate is based on your desired term and the rate you’re earning on your share account.
Term Share Certificate-Secured—CD Secured
This secured loan features a $1,000 minimum with terms based on your current share earnings and more. While the term cannot exceed the maturity of the term share certificate, it is a great way to borrow money while you earn interest on your collateral.