First Choice America Community Federal Credit Union

Certificate Secured Loan

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Have an expense you want to purchase but don’t feel comfortable emptying your savings for it? A share certificate secured loan is secured by the funds in your share certificate The funds will be “frozen” from use and made available as the loan payments are made. For example, if you borrow US $2,000 from your Savings Certificate, this amount would be “restricted” or “frozen” from use.

  • 2% above the rate of certificate
  • loan rate may adjust at certificate’s maturity

*All loans subject to credit approval.  A payment example of 2.55% APR for 12 months would be $84.50 per $1,000 financed.  This is based on a 91 day certificate, for other rate examples, please call the Credit Union. Maximum term is 12 years. Minimum loan amount is $250.00 Certificate must remain on deposit for term of the loan, but term on certificate may be shorter as long as the certificate renews for the life of the loan.  Rates and terms subject to change without notice.

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