Share/Certificate Secured Loans

What is a Savings or Share Certificate Secured Loan? 

A savings secured loan is a loan that is secured by the funds in your savings account. A certificate secured loan is a loan secured by a certificate of deposit, or CD. This means when you receive the loan, the amount of the loan is "frozen" in your savings account or on your CD. We will loan up to 95% of your pledge amount. No funds are available until paid in full.  

 Share Secured Loan Benefits and Details

  • No credit check or report

  • Can help establish or re-establish credit

  • Flexible terms

  • $300 minimum loan amount

  • Funds in your account continue to earn dividends even while "frozen"

Certificate Secured Loan Benefits and Details

  • No credit check

  • Continue to earn interest on your CD while enjoying a low interest rate on your loan

  • Create a history of consistent payments

  • $300 minimum loan amount

  • Term tied to maturity date of the CD

What is a Pledge Loan?

A pledge loan differs from a standard loan in that the loaned amount is completely backed with collateral from the borrower. A borrower can use their funds, such as a savings account, as collateral to obtain a loan. The funds used as collateral then become "frozen" until the loan is paid back in full. Because pledge loans are fully backed with collateral, they are easier to obtain than traditional loans and offer a number of other benefits to borrowers such as:

  • Better interest rates than standard loans

  • No credit check required

  • Helps establish or rebuild credit history easily

  • Flexible terms

A pledge loan from Fort Bragg Federal Credit Union offers additional benefits:

  • Low loan amounts starting at $300

  • You continue to earn dividends on your "frozen" funds