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Secured Loans

Secured loans are loans that use either a member's share deposit or share certificate as collateral.

Secured loans are a good way to establish or rebuild credit – or to keep your interest rate very low. Here’s how it works: A member would use the money in their account as collateral. The Credit Union would freeze those funds as “insurance” for the loan. As the loan is paid, the funds are released in their account. Meanwhile, the member builds credit (even though they borrowed against their own money) – and, since the loan is secured by their own funds, the rate is significantly lower on this type of loan!

Share Secured Loans offer:

  • The ability to use Share Account as collateral
  • Minimum loan amount of $500
  • Terms up to 60 months
  • Share account still earns interest
  • Principle amount released into savings account after each payment

*60 monthly payments of $20.28 per $1000 borrowed at 7.99%.

Share Certificate Secured Loans offer:

  • The ability to use a share certificate as collateral
  • Low interest rate of only 2.5% above current share certificate rate
  • Minimum loan amount of $500
  • Terms of 60 months or remaining term of the share certificate
  • No penalty for withdrawing from a share certificate to pledge to a loan
  • Certificate still earns interest
  • Principle amount remains frozen in certificate

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 Deposit and loan products offered by: Louisiana Federal Credit Union, Member NCUA, An Equal Housing Lender

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency

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Louisiana FCU
P.O. Box 1956
LaPlace, LA 70069

Phone: 985.652.4990
Toll-free: 888.652.4990
Fax: 985.651.8001
Routing # 265476411