Share-Secured Loans
Backed by your own savings
Strengthen your credit through deposits
A share-secured loan is a type of personal loan that uses your own savings as collateral. Instead of depleting your savings on those big purchases, you can lend it to yourself. As a result, you don’t lose out on any savings interest!
Share-Secured Features:
- Perfect way to establish or rebuild credit
- Lower interest rates than unsecured loans
- Local service & support from Deseret First
How does a share-secured loan work?
First you’ll need to start with our 100% online application.
Next, decide how much of your savings you want to borrow. We don’t demand a minimum like other financial institutions.
Don’t worry, there’s also no origination or pre-payment fees!
Finally, choose where you want your funds deposited: your account, a check, or prepaid VISA card.
Flexibility matters, especially when it comes to managing your finances. At DFCU, we provide flexible terms to suit your needs. As a member, you receive personalized service and tailored attention. We offer share-secured loans with a variable rate. The Annual Percentage Rate for these loans is just 3.00% above the current savings account interest rate, giving you a competitive option to support your financial goals.
Loan Requirements
To qualify, you’ll need:
- Membership & eligibility
- Credit approval
Apply online today! For questions or to apply directly with a representative, call 801-456-7590 or 800-326-3328. Available weekdays: 8am-6pm, Sat: 9am-2pm. Additionally, you may visit any Deseret First Branch.
Start Application