Certificate of Deposit Secured Loans

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With a St. Mary's Credit Union certificate of deposit secured loan you can borrow on your own money, deposited into a certificate account, to pay bills and build credit. We won't check your credit, and interest rates are typically lower than with unsecured personal loans. The principal balance in the certificate must be equal to or greater than 105% of the balance of the loan.

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Summary
  • Lower rates than personal loans
  • Fast application turnaround
  • No credit check required
  • Fixed rate of interest at 2.50% above the Certificate dividend rate with AutoPay discount, 3.00% above the Certificate dividend rate with coupon book
  • As payments are made on the loan, the money in the certificate becomes liquid
  • Maximum loan amount is $100,000
  • Certificate will be retained by the loan department during the term of the loan
  • Simple, standardized repayment terms
  • 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