A Teachers Credit Union Secured Loan is a smart way to build or improve your credit score by using cash you already have on hand as collateral. From lower interest rates to better terms, discover how a Secured Loan can help improve your financial well-being.
Savings Secured Loans
Teachers can provide you with the cash you need... FAST! With a Savings Secured Loan, borrow up to 100% of the available shares on deposit in your primary Savings Account*.
- Variable interest rate, adjusted quarterly - Rates
- Rate is equal to the dividend rate paid for the prior quarter for regular share savings accounts, plus 2.50%, rounded to the nearest higher quarter percentage point
- Terms up to 120 months are available
*NOTE: Funds on deposit in a Share Draft Checking, Money Market, Holiday Savings, Vacation Savings, Custodial, Guardianship, Estate, or Living Trust Account or IRA Share Savings Account may not be pledged as collateral for a Savings Secured Loan.
Certificate Secured Loans
With a Certificate Secured Loan, borrow up to 100% of the face amount of your Certificate*.
- Fixed interest rate equal to 2.50% above the certificate rate, rounded to the nearest higher quarter percentage point - Certificate Rates
- The loan term may not exceed the maturity date of the certificate
- Only certificates with a 6 month term or more may be pledged as collateral
*NOTE: IRA Certificates or Certificates of deposit in a Custodial, Guardianship, Estate, or Living Trust Account may not be pledged as collateral for a Certificate Secured Loan.
For more information, visit any of our conveniently located branches, or call (631) 698-7000, extension 6790.