Coastal Credit Union
Coastal Credit Union

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Share/Certificate Secured Loan

Borrow against your savings to help build or re-establish credit.

SHARE/CERTIFICATE SECURED LOAN FEATURES

Build Your Credit
Rebuild a healthy credit
score by using your savings as
collateral for a loan or line of credit
No Application Fees
No secured
loan application fees
or closing costs
Earn Dividends
Your savings
continue to earn dividends
while you use your loan1

Bank Better With a Share/Certificate Secured Loan From Coastal

  • Utilize your loan to consolidate debt, home improvements, repairs, and more
  • Use your Certificate or Share Savings as collateral for a Share Secured Line of Credit or Share/Certificate Secured Loan
  • When your loan is paid off, your savings become available to you again

Resource Center

Options for Debt Consolidation

Want to organize your finances and become debt free quicker? By consolidating your debt, you could lower your monthly payment and keep more money in your pocket. Here’s how to decide whether consolidating your debt is a good strategy for you. 

Three Times When Borrowing Money is the Best Strategy

Often times borrowing money is viewed as a bad thing. In reality, when done correctly, borrowing money and going into debt can actually be a good thing

I think the staff is very friendly, is always willing to assist if I have any questions. The loan process is very easy!
A Coastal Member

Frequently Asked Questions

Share secured loans allow you to borrow against your own savings or certificate, using it as collateral. Instead of liquidating your account to make a purchase, thus losing out on all dividends and an emergency safety net, you borrow against that sum while your money stays in the account.
Coastal will place a hold on the amount you want to borrow against. If you are approved for the loan, you’ll be granted the amount you requested in the form of a check or a deposit into your share account. You can make payments on the loan through an automatic withdrawal from your account, via direct deposit or by sending in a monthly check.
Borrowers with damaged or no credit, who may not otherwise qualify for a loan, stand to gain the most from these loans.  This is an ideal option to build or re-establish credit.Borrowers with damaged or no credit, who may not otherwise qualify for a loan, stand to gain the most from these loans.  This is an ideal option to build or re-establish credit.
No.  There are no application fees or closing costs on share secured loans.
All FAQs

All loans are subject to approval. Interest accrues daily.

1. Your money continues to earn dividends at the current interest rate of the deposit product while securing your loan.

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