Savings Secured and CD Secured Loans
Keep earning interest during repayment with a savings secured loan from Salal.
A savings or CD secured personal loan‡ gives you the flexibility to leverage your existing Salal savings or CDs to finance big purchases or consolidate debt. And while you’re repaying your loan, you still earn interest on your savings. A savings secured or certificate secured loan can also be an effective stepping stone toward building or rebuilding your credit.
Savings-Secured Loan§
Today’s Rate
6.50
%
APR*
Certificate-Secured Loan§
Rates as low as
6.50
%
APR*
A great option if you want:
- Loans that can be secured with a Salal savings, money market, or certificate of deposit.
- Borrow up to 100% of funds in the account.
Currently available for individuals residing in CO, OR, and WA.
Table Scrolls Right.
Table Scrolls Right.
| PRODUCT | APR | TERM |
|---|---|---|
| SALAL EZ LINE OF CREDIT | 13.74% - 14.34% | Revolving. |
| SALAL SIGNATURE LOAN | 11.99% - 12.59% | Up to 60 months. |
| SAVINGS SECURED LOAN | 6.50% | Secured by Salal Credit Union Savings or Money Market account. |
| CERTIFICATE SECURED LOAN | 2.50% margin over certificate rate. 6.50% minimum. | Secured by Salal Credit Union Certificate - due at Certificate maturity. IRA Certificate of Deposit not eligible. |
EXAMPLE PAYMENTS: EZ Line of Credit: $115.67 a month based on a 60 month, $5,000.00 loan at 13.74%; Signature Loan: $111.20 a month based on a 60 month, $5,000.00 loan at 11.99%. EXAMPLE PAYMENTS: Savings Secured: $97.83 a month based on a 60 month, $5,000.00 loan at 6.50%.
APR = Annual Percentage Rate. The APR on all loans without automatic payment will be 0.25% higher. Refer to the Credit and Security Agreement for specific disclosures. EZ Line of Credit, Signature, Savings Secured, and Certificate Secured loans are available for individuals residing in CO, OR, and WA.
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