Coosa Valley Credit Union Secured Loans
At Coosa Valley Credit Union, you can take advantage of a low-rate secured loan, using funds in your share savings account as collateral to back your loan. Available for members in Rome, Cartersville, Cedartown, Dallas, Canton, Calhoun, Fort Oglethorpe, Rockmart, Woodstock & surrounding areas.
What is a Share Secured loan?
A Share Secured Loan uses your savings account ("shares") as collateral. With a share secured loan, you first deposit money into a savings or share account. CVCU then places a hold on part or all of those funds to use as collateral for the loan. You are allowed to borrow against the amount being held and repay the loan through monthly installments. Once the loan is fully repaid, the hold on your savings is removed and your funds become fully available to you again.
What is a Certificate Secured Loan?
A Certificate Secured Loan is a loan that uses a savings certificate — usually a certificate of deposit (CD) as collateral. With a certificate secured loan, you either open or already have a certificate account, such as a CD. CVCU places a hold on that certificate and uses it as security for the loan. You then make regular monthly loan payments until the balance is fully paid off. Once the loan is repaid, the hold on the certificate is removed and you regain full access to it.
Strengthen or Rebuild Your Credit with a Share-Secured Loan
Reduced Risk
Strengthen your credit while your loan is backed by funds in your own savings account.
Rebuild Credit
If you have low credit, a secured loan can help you start rebuilding and move toward stronger financial health.
For Ages 18+
Helping a young adult establish credit? A Share Secured Loan can be a smart way to get started.
Low Rates
Benefit from competitive low rates with a Share Secured Loan. Apply today and start building your credit profile.
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Ready to apply?
Whether it's an emergency, planned purchase, or consolidation, we want you to know that getting your secured loan from Coosa Valley Credit Union has never been easier. We make it easy to apply. Contact us or find your nearest branch to get started.
