Shared Secured Loans

A safe and smart way to borrow!   Use your own money to secure a loan for any purpose at a rate that is only 2.5%  points higher than the dividend rate your are earning.   You must maintain a balance in your share account equal to the balance of your share secured loan.  As you repay, the loan balance gets smaller, requiring fewer shares to be pledged as collateral - making more shares available to you.

To apply for this loan, please print and complete the Loan Application form below, sign where indicated and mail, fax or deliver to one of our locations.  If you have questions,please call us for help at (901) 930-0757.
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ONLINE LOAN APPLICATION

LOAN APPLICATION

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*Only Credit Union members are eligible for loans. The amount a member may borrow depends on the credit rating qualifications and guidelines established by the Board of Directors.

*In most instances, the interest rates on Credit Union loans are lower than rates charged by other financial institutions. Compare the cost of a Credit Union loan to the total cost of other financing. There are no hidden cost or early payment penalties.

*A member wishing to borrow must complete a loan application, which provides some of the information on which our loan officers base their decisions. Loan applications are available by calling or visiting the Main or Branch office.

*The loan repayment period is based on the type of loan obtained and the collateral offered. Interest is computed daily on the unpaid balance. The amount of interest due when a payment is made depends on the number of days from the date of the loan or from the date of the last payment. Repayment through payroll deduction is encouraged and there is no pre-payment penalty.

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