Use savings as loan collateral

Enjoy favorable rates

Build up your credit rating

A first-rate opportunity for first-time borrowers.

Get the money you need while building up your credit score.

Taking that first step - or the next step - up the ladder to a better credit rating isn't always easy. We have a good solution. Using your savings as collateral, you can borrow money at a competitive rate for repairs, purchases or anything else. On-time payments are likely to move your credit score in a positive direction.

  • Designed for borrowers seeking to build a credit history or repair their credit rating
  • Minimum loan of $250
  • Maximum loan depends on amount in your Philadelphia Federal Credit Union Share or Certificate accounts
  • Low rate of just 3 percentage points above rate on Share or Certificate account
  • Schedule convenient automatic loan payments through Direct Deposit, EZ Pay or automatic transfers from your checking account
  • If the loan is secured by a Certificate, the term of the loan cannot exceed the maturity date of the certificate
  • In general, funds securing the loan must have been in your Share or Certificate account for at least 15 days
  • Share Secured Loans cannot be secured with funds in IRA Certificates, IRA Shares or Checking accounts 
KEEP THE MOMENTUM GOING
Another advantage of a Share Secured Loan is that you're not dipping into the funds you've worked so hard to save. That money keeps earning dividends while you spend and pay off the loan funds.
Unexpected? Be prepared for anything.
With loan payment protection that provides you and your family the security you may need in the event of a disability or another unexpected event.
Loan Payment Protection