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A Share Secured Loan or Share Certificate Secured Loan lets you use the balance already sitting in your savings or certificate as collateral — so you can borrow at a lower rate while that money keeps earning dividends. Use your share account as collateral with a lower interest rate, with the flexibility to choose the payment option that works for you.
Use your share account as collateral with a lower interest rate. We give you the ability to choose and the flexibility of payment options.
Use your Share Certificate as collateral, with up to the certificate's maturity date to repay.
Both loans work the same basic way — you borrow against money you already have — but they use different collateral
A Share Secured Loan is a loan that uses the balance in your Pioneer Valley Credit Union share (savings) account as collateral. Because the loan is backed by your own savings, it typically qualifies for a lower interest rate than an unsecured loan, and your savings continue earning dividends while the loan is outstanding.
A Share Certificate Secured Loan is a loan secured by the balance of your Share Certificate (also called a CD) instead of a regular savings account. It lets you access cash without cashing out your certificate early, and your certificate keeps earning its dividend rate for its full term.
A Share Secured Loan is backed by a regular share (savings) account, while a Share Certificate Secured Loan is backed by a Share Certificate. Share Secured Loans generally have a term of up to 24 months, while a Share Certificate Secured Loan's term matches the certificate's maturity date, or the time remaining until maturity.
Yes. The pledged funds remain in your account and continue earning dividends for the life of the loan. They're simply held as collateral, meaning access to that specific balance is restricted until the loan is repaid.
Click Apply Now, then select the matching loan type under "Select a Purpose" in the application. Want to learn more first? Click Schedule Appointment to meet with a member of our helpful team who will walk you through the process.
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*APR = Annual Percentage Rate; APY = Annual Percentage Yield; Terms and conditions apply. Click here for Loan Rates & Disclosure. Click here for Home Loan Rates & Disclosure. Click here for Savings Rates & Disclosure.
Calculator is for informational use only. Your actual loan terms will vary based on a number of factors.
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Calculator is for informational use only. Your actual savings will vary based on a number of factors.