With a Secured Loan from HFS FCU you can now borrow money against your own savings, or share certificates. At rates only 2% above the current savings or certificate rates you can enjoy a loan that costs you less. Not only will you pay less interest but secured loans are a great way to build or rebuild your credit. HFS FCU offers members two types of secured loans.
Share Secured Loan
- Variable rates (2% above current savings rate)
- Terms up to 120 months
- Funds equal to the amount of the loan are held in the account
- As you pay down the loan, the funds are released and are available to you.
Certificate Secured Loan
- Fixed rates (2% above current certificate rate)
- Term of loan equal to selected certificate term (6 months – 60 months)
- Interest only loan
- When the certificate matures funds can be used to pay off the loan
For more information on a Share Secured or Certificate Secured Loan from HFS FCU please contact the credit union at (808) 930-1400.