Routing # 321076470

Secured Loans

Your savings can be your ticket to building or rebuilding your credit.

Savings Secured Loans

Savings Secured Loans are the perfect loan option to increase your credit no matter where you’re starting from.

For a quick, low-rate loan, use your savings as collateral! With a Savings Secured Loan, the money you already have on deposit is used as collateral, and you can borrow up to the amount you have in your savings with terms Up to 60 months.

All secured loans require collateral. For example, when you take out an auto loan, the car is used to secure the loan. The car is the collateral. Similarly, your home is considered the collateral when you get a mortgage or home equity loan.

Certificate Secured Loans

With a Certificate Secured Loan, your Certificate of Deposit acts as collateral. Certificate Secured Loans allow you to retain your investment while getting additional cash you may need. And since Certificate Secured Loans are personal loans, you can use the money for almost any expense.

With a Certificate Secured Loan, you can borrow up to the amount of your share certificate, with the full amount due at the same time your certificate matures.

Product Benefits

No fees and low rate

No fee to open or set up the loan and a fixed low rate at 2.50% APR.1

Borrowing based on your savings

You can borrow up to 100% of the money you have in your Patelco savings account or Certificate. Minimum opening balance is $300.

Get the right loan amount on your terms

For a Savings Secured Loan, choose a payment term that works for you to pay off the loan – from 6 to 60 months.

Help grow your savings

Continue to earn interest on your Savings or Certificate while you pay back the loan.

Establish or rebuild your credit

In addition to making your payments on time, a Secured Loan itself can help raise your credit score.

Secured Loans

Rates Effective 02/16/2023





Savings-Secured Up to 60 months Equal to savings 2.50%
Certificate-Secured Due upon maturity Equal to certificate CD rate + 2.25%

Loan Payments Calculator

How much can I afford?

Calculations provided are for demonstration purposes only and do not guarantee credit approval for the rate and terms displayed.

Frequently Asked Questions

  • A secured personal loan is a good choice for building credit or repairing credit when you have money in savings or Certificate. Your monthly payment doesn’t change, and you pay a lower interest rate while your credit improves. A Savings and Certificate Secured Loan offers a lower, fixed rate than an unsecured personal loan because the loan is secured. It uses the money you have on deposit or in your Certificate as collateral, and can be a smart way to improve your credit.

    Yes. It is a good option to help older teens and young adult children who don’t have credit. It can also help reinforce smart money management and careful budgeting.

    It’s a personal decision and one that varies based on preference and circumstances. Saving money can be tough – and you worked hard to build up your savings account. If you’re in need of cash for an unexpected expense or big purchase, you may consider borrowing against it with a Savings Secured Loan. This way, when the loan is paid off with minimal interest charges, you still have your savings.

Let’s have a conversation

At Patelco, we put your financial wellbeing first and provide free financial coaching with a Patelco Certified Financial Specialist.2 Your financial specialist can help you create a personalized strategy so you can feel in control of your money and track your progress.

1 APR (Annual Percentage Rate). All loans are subject to credit approval, restrictions apply, rates are subject to change. Loan rates effective as of 2/16/2023. Equal to the rate you are receiving on the certificate pledged as security at the time the loan is obtained, plus 2.25%. Example, if you receive a loan of $10,000 with an interest rate % with no origination fee and make 36 monthly payments of $300.33, your finance charges will be $811.62 which would make your total repayment amount $10,811.62.

2 Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Patelco Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.


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