With our new Credit Enhancement Program, you can improve your credit score with minimal effort by getting a Share Secured Loan. A Share Secured Loan is a type of loan which is backed by shares. At the SFCU, you can get a loan for any amount between $500 and $10,000 for a duration between 6 months and 5 years. The loan will have a fixed interest rate of 2.5%.

To begin the process, complete and sign the Share Secured Loan application form. Once we have reviewed and approved your loan application, we will set up an appointment with you to disburse the loan. The principal will be deposited into a separate account and will be held for the duration of the loan. Additionally, you will have to make an upfront payment of the interest on the principal upon loan initiation.

For example, if you request for a $1,000 share secured loan for 1 year, we will deposit $1,000 into a separate account and you will be required to make a payment of $25 (2.5% of $1,000) from your regular SFCU account. Monthly payments will then be made from this separate account to the loan account such that, by the end of the loan duration, both the separate account and the loan account will be zeroed out.

Loans officers are available for open consultation at our Main Branch Office, (3401 Walnut Suite 341A) every weekday from 1 PM to 5 PM. Alternatively, fill out our online contact form and we will set up an appointment or loan interview.