Secured Consumer Loans
Members Plus Credit Union allows you to secure a loan against your savings account or certificate of deposit account. Learn more about secured consumer loans now!
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- Maximum term is 10 years or maturity of collateral
- Weekly, biweekly or monthly payment options
- Payments can be made through automatic transfer from your savings or checking account, or by using coupon books.
- Money Market and IRA Accounts may not be used as collateral.
Apply for your Savings Secured Loan.
Apply for your CD Secured Loan.
Do not hesitate to contact us with any questions as you go through the process. We can be reached at 781-905-1500 during normal business hours.
Secured Consumer Loans
| Name | Term (in months) | APR**(As Low As) | Cost Per Thousand*** |
|---|---|---|---|
| Savings Secured Loan | 0-120 | 3.20% | Based on Term |
| Cert. of Deposit Secured Loan | 0-120 | 3.00% + CD APY | Based on Term |
***APR=Annual Percentage Rate. Please note that the interest rate and fees shown here are available to members with an excellent credit history. The actual interest rate and fees available will be based on credit history, property type and loan transaction type, and may be different than the rates displayed here. **New Autos 2024 and 2023 with less than 7500 miles. ***Pre-Owned Autos 2011-2023 with greater than 7500 miles. VSI Insurance is required on all Auto Loans. Minimum Payment Requirements on all auto loans: $25.00 weekly, $50.00 biweekly and $100.00 monthly. A 7 year term may be granted for new or used auto loans in excess of $30,000.00.
***APR = Annual Percentage Rate. APRs are based upon member’s credit score. Rates listed above reflect strong credit worthiness. Payments listed above do not reflect life and disability insurance. Rates and APRs effective May 24, 2024 and are subject to change without notice.
