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Savings Secured Loans

Savings Secured Loans

Preserve hard-earned savings - borrow against your wealth instead of spending it.

At a Glance

It can take a long time to build up your savings and a short time to spend it. With Savings-Secured Loans, you can use your savings as collateral, borrow at economical rates, and keep your savings intact.

Benefits

Preserve your hard-earned savings – use your savings as collateral, borrow at economical rates, and keep your savings intact.
Borrow against - your DCU Savings Account balance or your DCU Certificate Accounts.
Rebuild your credit - repaying a Savings-Secured Loan on time can help you rebuild your credit.
AS LOW AS
3.50% APR
RATINGS
4.5 4.5 / 5 stars

MAXIMUM TERM

120 months

Savings Secured Loans

Terms Terms APR¹ APR¹ EMP² Per $1,000 EMP² Per $1,000
Up to 120 Months 3.50% $9.89
Terms Terms APR¹ APR¹ EMP² Per $1,000 EMP² Per $1,000
Up to 120 Months 3.50% $9.89

Rates are effective {currentdate}.

¹APR = Annual Percentage Rate. Rates listed are for this product only and are subject to change at any time.

²EMP = Estimated Monthly Payment

*In response to the COVID-19 outbreak and as part of the DCU Cares Program, for Savings Secured Loans opened after 3/25/2020, and until further notice, DCU is offering the option to take advantage of no payments for the first 60 days after the closing of the loan. Interest will begin accruing on the date the loan is funded. The first payment after the 60-day no payment period will first be applied to the interest accrued from the date the loan is funded to the first payment date and then applied to the principal due.

Certificate-Secured Loans

Terms Terms APR APR
Up to 60 Months Term¹ Certificate Dividend Rate + 3.00%
Terms Terms APR APR
Up to 60 Months Term¹ Certificate Dividend Rate + 3.00%

Rates are effective {currentdate}.

¹The Annual Percentage Rate (APR) will be the dividend rate of the certificate securing the loan + 3%. For example, a certificate-secured loan secured by a 60-month certificate with a dividend rate of 0.90% will have an APR of 3.90%. The estimated monthly payment on a 48-month certificate-secured loan with an APR of 3.90% would be $22.53 per $1,000 borrowed. Loan must be paid in full prior to the certificate maturity date. Certificate rate used in this example is for illustrative purposes only and is subject to change at any time. See dcu.org for current certificate rates.

Plan for Your Savings-Secured Loan

Choose from our easy to use calculators to help you manage your savings-secured loan.

What Our Members Are Saying

Helped preserve my savings

RATINGS 5 5 / 5 stars

Thank you so much for coming through for me! Credit repair is a confusing and frightening place. But with DCU, I get the answers and solutions I need to solve every problem. You have given me the tools to feel empowered.

Meg - Brandon, FL

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Great Product

RATINGS 5 5 / 5 stars

DCU has been just awesome in the short time that I've been a member. I’ve been very impressed with the service, and the excellent opportunities offered to the members. In my case, the opportunity to rebuild my credit with the Savings-Secured Loan.

Rackaracka - Bloomington, IL

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Helps with wealth preservation

RATINGS 5 5 / 5 stars

Acquiring wealth is difficult and paying yourself back for what you’ve spent is equally difficult. So, I find that there is discipline in using my savings as collateral and paying back the loan in return. It gives me the flexibility to afford any project.

Ewuradwoa - Worcester, MA

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