The Best Kept Secret in Banking.
Grow Your Savings While You Borrow.
At Sunrise Family Credit Union, we believe your money should always work for you—even when you need to borrow. Share-Secured Loans are one of the best-kept secrets in lending. By using your own savings or certificate account as collateral, you get the best of both worlds: the cash you need at an incredibly low rate, all while your original deposit continues to earn dividends.
Features
Why dip into your emergency fund or hard-earned savings when you can leverage them instead? A Share-Secured Loan is a smart financial tool for members who want to preserve their nest egg while making a purchase.
- Dual Advantage: You borrow at a significantly lower interest rate while your pledged funds continue to grow and earn dividends.
- Credit Builder: This is an excellent way to establish a credit history or repair your score with a loan that is 100% guaranteed.
- Flexible Pledging: Use the funds in your SFCU Savings Account or Certificate Account as collateral.
- Keep Your Momentum: Your savings stay intact, meaning you don't have to start your savings journey over from zero after a big purchase.
Rate Details
| Loan Term | Interest Rate Calculation |
|---|---|
| Up to 12 Months | 3% above your current savings/certificate rate |
| 13 to 36 Months | 4% above your current savings/certificate rate |
| Example: If your Savings Account is earning 0.50% and you take a 12-month loan, your loan rate would be just 3.50% APR! | |
FAQs