Secured Loans
Use money in your Educational Systems Federal Credit Union savings account or certificate account as collateral to get a great interest rate.
Enjoy dividends and competitive interest rates
Get the personal loan you need, paired with savings
If you're building your credit or need money to cover expenses, you can borrow against your savings from savings accounts or certificate accounts at Educational Systems Federal Credit Union with a Share Secured or Certificate Secured Loan.* Since you're using your savings as collateral, you'll pay a lower interest rate than those typically offered on credit cards or unsecured loans. Both Share Secured and Certificate Secured loans allow you to continue to earn dividends on your savings while getting a competitive loan interest rate.
Share Secured Loan
You can borrow up to the amount you have on deposit in your savings account for up to 120 months. The loan interest rate is your savings account interest rate plus 3.00%.
Certificate Secured Loan
You can borrow up to the amount you have on deposit in your certificate account for up to the remaining term of your certificate. The loan interest rate is your certificate interest rate plus 3.00%.
Frequently Asked Questions
You may mail your loan payment, pay online by transferring funds from a checking/savings account (please note that you must be set up for Digital Banking), or you may pay in person at any of our branch offices. In addition, you may set up a debit from another bank account or create a distribution from a direct deposit or payroll deduction.
Helpful Links
Get the money you need while enjoying lower interest rates.
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* Applications are subject to credit qualifications and approval. Actual rate is based on your credit history. Must meet membership eligibility requirements.