Share secured loans
Borrow against your own savings.
Use what you’ve already saved to build your credit, at a low rate that’s the same for every member. Your savings stay in your account and keep earning the whole time.
Rates as low as
Share secured
A good first loan
Build credit while your savings keep working.
It works well for a new apprentice, or for anybody rebuilding their credit. A loan paid on time gives you a track record that helps when it’s time for a truck or a house.
Same rate for every member, whatever your credit score- Variable rate: 3% above your share rate, for any term
- Fixed rate: 3.10% above your share rate, on loans of up to 3 years
- Certificate secured: 3% above the certificate rate
- Your savings keep earning dividends while you borrow
Today’s rates
Share secured rates
Every member gets the same rate, tied to what savings earn. The variable rate moves with the share rate, and the fixed rate is available on loans of up to 3 years.
| Product | Term | Rate |
|---|---|---|
| Share securedVariable: 3% above the regular share rate. Fixed: 3.10% above, up to 3 years. Certificate secured loans are variable, 3% above the certificate rate. | Variable · any term | 3.50 % APR* |
| Fixed · up to 3 years | 3.60 % APR* |
Loan calculator
Estimate your monthly payment
This uses today’s rates. Nothing you type here is saved or sent anywhere.
Share secured
Estimated payment
$59a month
- Rate
- 3.60% APR
- Payments
- 36
- Interest
- $113
- Total you pay
- $2,113
This uses the fixed rate. The variable rate moves with the share rate, so it isn’t shown here.
How to apply
Three steps to get started.
- Step 1
Apply
Apply online any time. You can also call (256) 383-6551 or stop by the branch at 1705 E. 17th Street.
- Step 2
Hear back
The loan team looks over your application and calls you with your rate and payment.
- Step 3
Sign and go
Sign your loan papers. Your savings stay in your account the whole time.
Does everyone really get the same rate?
Yes. Every member gets the same rate for the same loan and term, whatever their credit score. Your credit history still plays a part in whether the loan is approved.
How does it work?
You borrow against money in your Share Savings or a certificate. Your savings back the loan, which keeps the rate low.
Do my savings keep earning?
Yes. They stay in your account and keep earning dividends while you pay the loan back.
What’s the difference between the variable and fixed rates?
The variable rate is 3% above the share rate and moves when the share rate does. The fixed rate is 3.10% above the share rate, on loans of up to 3 years, and it stays the same until the loan is paid off.
Can I borrow against a certificate?
Yes. A certificate secured loan’s rate is 3% above what the certificate earns.
Do I need to be a member?
Yes. You borrow against your own savings, so you’ll need Share Savings first. It opens with $25. You can apply for membership online.
Save and borrow
More ways to save and borrow.
Personal Loans
Cover a repair or a move at the same fixed rate every member gets.
More about personal loans
*APR = Annual Percentage Rate. Not all applicants will qualify. Rates are subject to change without notice. We’ll match a lower rate on a comparable new loan offered by another local lender. To qualify, you need a credit score of 700 or higher and a written, dated offer or quote from the competing lender at the time of application. The offer must be for the same loan type, amount, and term, and for a loan you qualify for with that lender.
Share secured loans
Start building your credit.
Apply online any time, or call (256) 383-6551 to find out how much you can borrow against what you’ve saved.