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Deposit Secured Loans & Lines of Credit

Secure your loan with a deposit account and enjoy a low interest rate.

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Put your money to work!
  1. Overview
  2. FAQs

Overview

With a Deposit Secured loan or line of credit, you can secure your loan with funds already on deposit in a BCU savings account or CD. It's the smart way to borrow without depleting your funds, and you'll enjoy a lower rate.

Benefit from:

  • Low, fixed APR and fixed monthly payment for Deposit Secured loans—with first payment deferred for 60 days.
  • Low, variable APR for Deposit Secured Lines of Credit. Advance funds when you need them, and only pay interest on what you borrow.
  • An additional 0.50% APR reduction1—with Rewards Rates
  • Maximum borrowing power—borrow up to 100% of the balance of the share account or CD2
  • Continued dividend earnings during the loan term
  • No pre-payment penalty or loan fees
  • A quick approval process with access to funds in as little as the next business day.

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1APR is Annual Percentage Rate. APR is subject to change. The rates listed assume an automatic payment method and include a 0.50% discount for having two of the following relationships: a checking account with direct deposit of at least $500 per month; at least $25,000 on deposit with the credit union; or another qualifying loan in good standing. Qualifying loans include: Mortgage, Home Equity, Auto, and Credit Cards. A qualifying loan must have a current balance and credit cards must have a transaction within the past 30 days. Any Credit Union loan that is not in good standing or delinquent will disqualify you for Rewards Rates. Rewards discount cannot be applied to Credit Cards, CD Secured Loans and Stock, CD and Deposit Secured Lines of Credit. All rates are subject to credit certification and approval. The rates shown are the lowest available and your rate may be higher.

2 APR for loans secured by certificates will be 1% more than the annual percentage yield (APY) on the certificate.