Share Secured

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Why borrow against your share savings you might ask?There are two options when borrowing against your shares (savings).

With a Regular Share Secured loan you are able to borrow the full amount of your Regular Share balance. Your full account balance continues to earn dividends at the current rate for Regular Shares, while you pay only 2% above the current rate being paid on savings for the portion you borrow. The current loan balance is frozen until the loan is paid in full, however the pledged portion of the account is reduced with each payment made on the loan.

We also offer a 0% Share Secured loan. Section 705 FCU will open a special share (savings) account that pays no dividends on the funds pledged for this loan. You in turn will pay no interest on the loan. Once the loan is repaid in full, the funds in the special no interest savings account will be transferred back into the interest bearing account. The original amount of the loan will be frozen and unavailable until the loan is paid in full.

Call Cassie or Amanda to make an appointment for more information today.

Loan Coupon Books

Coupon books are here to stay. If you would like a coupon book on your monthly self paid loan, please contact Cassie or Amanda and she would be happy to get one out to you. Coupon books are a friendly reminder of when a payment is due...completely takes the guessing away. Feel free to contact Cassie or Amanda for any of your loan needs!