Share Secured Loan
Looking to build or rebuild your credit? Want to access cash—without spending down your hard-earned savings? A Share Secured Loan can help meet your financial goals.
Secured by your Neighbors Savings Account, our Share Secured Loan gives you quick access to funds when you need them, leaving your nest egg intact.
Key Features of Our Share Secure Loan
- Backed by collateral: Your Neighbors Savings Account secures your loan. Borrow against your savings balance while still earning dividends!
- Accessible to more borrowers: With less stringent credit requirements, secured loans open doors to members with new or less-than-perfect credit.
- More affordable: Enjoy better rates than unsecured loans and credit cards.
How it Works
This personal loan offers an easy online application, as well as options for applying in person at your local Neighbors branch.
To qualify, you’ll need a Neighbors savings account with sufficient funds. You may be approved for up to the total amount of your savings. Neighbors will work with you to create a flexible and affordable monthly repayment schedule.
While the loan is being paid back, the funds of your account will be locked. You’ll continue earning interest on your savings during this time. Once your loan is repaid in full, the funds in your savings account will be fully available to you again.
Perks of Using Share Secured Loan
- Easier approval than unsecured personal loans
- Making on-time payments can help build or rebuild credit
- Preserves your savings cushion, while borrowing the funds you need
- Lower interest rates than unsecured loans
Apply for Your Secured Loan Today!
Whether you’re working to improve your credit or need a funding option that lets you keep your savings intact, a Share Secured Loan from Neighbors can help.
Reach out today to learn more about our Share Secured Loans and other affordable financing options or apply online!