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Share Secured Loans

get share secured loans at cenla federal credit union in Pineville and Alexandria, LA

If you need money for something important, but want to keep your savings intact, consider the merits of a cost-effective Cenla FCU Share-Secured Loan. First and foremost is the interest rate: It's low! That's because you're using your own savings as collateral for the loan. Choosing to collateralize your loan in this manner allows us to offer you a lower interest rate for the life of your loan.

Share secured loans use savings accounts or certificates to secure loans. For savings-secured loans, the loan amount plus interest can total up to 100% of your account balance. What's more, it’s a great way to establish credit.

Cenla FCU savings-secured loans offer a variety of benefits to members:

  • APR as low as 2%*
  • Convenience of using savings as collateral
  • Fast approval
  • Low interest rates
  • Borrow up to 100% of savings account balance
  • Terms of up to 72 months or the remaining term of the account, whichever is less
  • Generally lower loan rate than other types of secured loans
  • Simple application – there is less paperwork because your loan is secured
  • Fixed term, fixed rate – you know exactly how much you’ll pay each month, making it easy to budget
  • Your savings continues to earn interest