Secured Loans

Get The Money You Need While You Continue Saving

Did you know that you can use your own savings as collateral to secure a loan?

A Shared Secured or Certificate Secured Loan allows you to borrow up to the amount of money that is held in your account as collateral. As you make payments, the amount on hold is reduced. Because you are borrowing against your own money, qualifying for a Secured Loan is easy. If you have funds on deposit, you may borrow against them!

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Why Is This The Best Loan For Me? 

Beach Municipal FCU's Secured Loan features: 

  • Low, fixed interest rates.
  • Fixed payments.
  • Flexible terms.
  • Borrow up to your available account balance.
  • There's no credit check to qualify for the loan.
  • No penalty for early payoff.
  • No application fees.
  • Can improve your credit score.
  • Best of all, you will continue to earn dividends on your savings while you repay the loan!

Save Even More!

We can even reduce our already low rates up to an additional 1/2% APR* if you have any two of the following:

How can a Secured Loan improve my credit score?

A Shared Secured or Certificate Secured Loan is ideal for building credit, especially if you have no credit, limited credit, or have had credit problems in the past. Your loan payment history will be reported to the major credit bureaus, so making your payments on time and remaining in good standing will help improve your credit profile. 

Secured Loan Rates

Personal Loan Rates
Effective Date: Monday, August 1, 2023
Type of LoanAnnual Percentage Rate*
Apply for a loan online
Unsecured Personal Loans 8.95% - 17.95%
Line of Credit Loans 8.95% - 17.95%
Overdraft Line of Credit Loans 9.95% - 17.95%
Share Secured Loans 3.00% above share dividend rate in effect at the time of loan
Certificate Secured Loans 2.00% above share dividend rate in effect at the time of loan

*APR=Annual Percentage Rate. All loans are subject to approval. Some restrictions may apply. Rates are subject to change without notice. Rates are accurate as of the effective date above. Relationship discounts may apply; however, a floor rate of 2.75% APR is in effect. Floor rate does not apply to Certificate or Share Secured loans. Rates, terms and conditions are subject to change and may vary based on credit score, qualifications and collateral conditions. Please contact us for details.

Credit Life and Credit Disability Insurance

With Credit Life and Credit Disability coverage, you’ll have peace of mind knowing you can:

  • Reduce your financial burden.
  • Protect your income, your collateral and your credit rating.
  • Receive coverage at home and at work.

While credit insurance is not required to obtain a loan, the policies will lessen the financial burden on your family. In the event of your death, Credit Life Insurance pays the balance of your loan. Credit Disability Insurance makes your loan payments, up to the policy maximum, if you were to become disabled by a covered sickness or accident.

For more information on how Credit Life and Credit Disability coverage can protect you, contact us at 757.333.7787 or through our secure Contact Us form.

*APR=Annual Percentage Rate. All loans are subject to approval. Some restrictions may apply. Please see a Loan Officer for details.

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