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Secured Loans

Secured loans are the best loans for those individuals who need to establish credit or begin the credit rebuilding process.  We offer two (2) types of secured loans:

Share Secured Loans

You can use the funds in your share (savings) account as collateral. You can borrow up to the total amount in your account. Each time you make a payment, the amount of your payment, minus any accrued interest, is made available in your share account.The rate for this type of loan is 4.50%.*

Share Certificate Secured Loans

You can use your share certificate(s) as collateral. You can borrow up to the total amount of your share certificate(s). Each time you make a payment, the amount of your payment, minus any accrued interest will be available in your share certificate(s).  The rate for this type of loan is the rate of your share certificate(s) plus 2.50%.** For example, if the rate of your share certificate is 1.50%, the rate of your loan will be 1.50% + 2.50% = 4.00%.

Contact one of our loan officers to apply for this type of loan.

Print out Texasgulf FCU's secured loan application

*Rates are subject to change without notice.
**Rates are subject to change without notice. If more than one (1) certificate is used as collateral, the rate for the certificate that has the largest amount used as collateral will be used.


 

 

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