Certificate of Deposit Secured Loans

Keep Your Savings Growing While You Borrow

  • Favorable Rates
  • No Credit Check Required
  • Improves Credit
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Build Your Balance While You Borrow

Use your savings to fuel your goals. A CD-Backed Loan from SMCU allows you to access competitive financing while your Certificate of Deposit continues to earn interest. For over 100 years, we’ve helped our members make their money work harder—and this is the ultimate way to stay in control of your financial growth.

 

A Smart Way to Secure Personal Financing

This isn’t just a loan; it’s a strategy. Because your loan is secured by your CD, you enjoy perks that standard personal loans can’t match:

  • No Credit Check Required: Since your loan is backed by your savings, we skip the credit hurdles for a faster, simpler process.

  • Lower Rates: Benefit from a rate significantly lower than traditional personal loans.

  • Keep Your Interest: Your CD stays intact and continues to earn dividends while you pay back the loan.

  • Increasing Liquidity: As you make payments, that same amount of money in your certificate becomes available for you to use.

 

The Specifics

  • Max Loan Amount: Borrow up to $250,000
  • Simple Approval: Quick, local decision-making and processing
  • Flexible Repayment: Choose monthly payments (up to 5 years) or a single-payment option.
  • Competitive Pricing: Fixed rates as low as 2.50% APR above your dividend rate with AutoPay.

 

How It Works

We believe in straightforward banking. To qualify, the principal in your certificate must be equal to or greater than 105% of your loan balance. From there, it’s a smooth road to funding:

  1. Secure with Your CD: Your certificate acts as the collateral.

  2. Access Your Cash: Get the funds you need for home updates, vehicle repairs, or any personal goal.

  3. Watch Your Savings Grow: Your money stays put, earning for you, while you pay back the loan at a great rate.

 

Ready to make your money work twice as hard?

Request Info to see how a CD-Backed loan puts you in the driver’s seat of your financial future. 

 

Repayment period of 5 years or the term of the certificate, whichever is less, for loans paid monthly

Repayment period of the term of the certificate or 1 year for single payment loans

Rates and Terms are subject to change at any time without notice.

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