First Choice Credit Union offers members a unique way to keep their savings intact by using their savings as collateral for a loan. The interest rate on these loans is much lower than the rate on any other unsecured loans, plus your savings will still be earning dividends. The best part is when your loan is paid in full, you still have your savings.
Certificate and share secured loans are reported to the credit bureau, which offers a great way for young members to start building a positive credit history. Members that have had previous credit problems can also use this type of loan to help rebuild their credit.