Share Secured / CD Secured

Share Secured Loans

Share Secured Loans provide you with the ability to build a good credit history, using the funds in your Savings account to secure these loans. Secured loans are a smart way to borrow more money and keep your loan for a longer period of time. How? By letting your Savings Account work for you. The TelComm Credit Union Secured Loan solution allows you to borrow funds  secured by your Savings Account at a low interest rate.

Establishing and maintaining a good credit history allows you to achieve many of your life’s goals. Purchasing a home, car or pursuing a college education requires you to establish a positive credit history, which can be built with secured loans.

Why choose a Secured Loan?

  • Quick approval
  • Lower rate than many other conventional loans
  • Establish credit or reestablish credit; allowing future credit opportunities
  • Your Savings continues to earn dividends during the loan period
  • No proof of income required and we do not pull a credit report for this particular loan as it is secured by savings with TelComm CU.
  • As your loan is repaid, your Savings Account funds in the equal amounts to your payments will become available to you once again.

You’ve worked hard and saved over the years. Your reward is lower loan rates when you take out a Share Secured loan. Continue to earn interest on your savings and still get the things you need at a premium loan rate. Rates are fixed for 36 months; if a longer term is needed, it will be re-written.

Click “Apply Now” to fill out an online secured personal loan application today.

Contact a Loan Officer for rates and details. Apply today!

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Your specific rate will be dependent upon your credit rating, relationship with us, and other factors. Rates and terms subject to change without notice.

CD Secured Loans

Put your money to work for you. CD Secured Loans are a cost-effective way to secure the money you need while borrowing against what you already have. All the while, your TelComm CU Certificate of Deposit will continue to earn interest, so you get the best of both worlds.

CD term must be for 6 months or greater.

  • Quick approval
  • Lower rate than many other conventional loans
  • Establish credit or reestablish credit; allowing future credit opportunities
  • Your CD continues to earn dividends during the loan period
  • No proof of income required and we do not pull a credit report for this particular loan as it is secured by savings with TelComm CU.
  • Fully secured loan that matches the loan amount dollar for dollar in your CD

Click “Apply Now” to fill out an online CD Secured Loan application today.

Contact a Loan Officer for rates and details. Apply today!

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