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Secured Loans

Getting money to move your life forward is important. So is building up your credit rating or securing a lower loan rate. Doing all these things at the same time? That can be a win-win-win situation.

Another way to put your savings to good use

Sometimes, you can use a little financial breathing room. And sometimes, a few extra dollars lets you do something extra special for your family. With a Secured Loan, the deposits in your savings or certificates can help you qualify for a Visa credit card or access cash at affordable rates.

Share Secured Loans

Use your Share Savings account balance as collateral for a loan - and to qualify for a lower rate.
  • Maximum loan amount is $100,000
  • Repayment terms depend on amount borrowed
  • Rate is 3% above the current regular savings rate

Certificate Loans

Want to borrow money without digging into your savings? Borrow at an affordable rate using the balance in your certificates as collateral.
  • Ballooned loans with minimum interest payments due on a monthly basis
  • Interest payments required monthly
  • Loan due in full at maturity date of Certificate

Secured Visa Card

Enjoy the convenience of having a Visa credit card even if you have less than perfect credit or no credit. All it takes to get a card is to build up your savings balance a bit.
  • Great way to start building credit
  • Low interest rate
  • Minimum savings deposit of $250
  • Minimum credit limit of $250
  • Low monthly payments

Credit Builder Loan

With a credit builder loan, you can establish credit, save money with a competitive rate, and still earn dividends. Once you pay off the loan, the money becomes available in your share account.
  • Rate is 3% above the current regular savings rate
  • 12-month maximum term
  • Borrow between $250 and $1,000
  • Must have Direct Deposit to qualify. No minimum amount required

All loans are subject to approval.
Commonwealth Credit Union is a full-service, not-for-profit financial institution with branches throughout Kentucky, serving as the official credit union of the University of Louisville.
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Stop & Save

Let us review your credit report and find areas where we can save you money. We'll review the specifics of your current loans to see if you can get a better deal with us.