A share-secured loan, which is a CREDIT BUILDING LOAN, can be a great option for individuals with impaired, limited or no credit histories. These loans allow individuals to borrow against a secured savings offering relatively low interest rates and a straightforward qualification process. By demonstrating responsible repayment of the loan, individuals can build their credit scores and gain access to better financial opportunities.
Think smart, think a Self Serve Share Secured Loan. It's a great option for building credit and an inexpensive way to borrow money. A share-secured loan is a personal loan that is secured using the balance in your savings as collateral. Since it's already your money, approval is instant and the funds are available immediately.
Click on Share Secured Loans in IM247 online banking and get started. Choose your dollar amount, term and where you want the funds deposited, then complete the documents...yes, online. It's quick and easy and all done from the comfort of IM247 online banking app.
The Borrow & Save secured loan is a safe, convenient share-secured loan that also lets you save.
How? Part of this Borrow & Save loan starts with a special Borrow & Save savings account at the credit union. Once you’ve fully repaid the loan, the savings is yours. There is a simple application process and we offer an affordable low rate.
The Borrow & Save loan can build your credit and strengthen your financial health. We also offer access to financial counseling and education services.
