Deposit Secured Loan | Credit Union Secured Loan

Make your savings work for you (and offset interest) with a secured loan through Greater Nevada Credit Union. Deposit secured loans let you use your Share Savings funds or Share Certificates (CDs) as collateral. Apply online or contact us directly for the most up-to-date information about current loan offers.

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What are Deposit Secured Loans?

Deposit secured loans are excellent ways to leverage your savings to unlock more financial freedom. They can also help build your credit history and improve your credit score, opening up more opportunities for future borrowing needs. How it works: you’ll secure your new loan with a specific type of collateral: a Greater Nevada Share Certificate or funds in your Share Savings account.

Share Secured Loan

A Share Secured Loan is issued by freezing the funds in your Share Savings account. Pledged funds gradually and automatically release as you make on-time loan payments to pay down the loan balance. The maximum loan amount is up to 100% of the funds available in the account, and maximum loan term is up to 120 months.

Share Certificate Secured Loan

A Share Certificate Secured Loan is issued based on the amount in your Share Certificate. The maximum loan amount is up to 90% of the Share Certificate balance for maturities of 12 months or less, and up to 80% for maturities over 12 months. The maximum loan term is the term of the Share Certificate.

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Get more from your savings with a deposit secured loan or explore other types of loans: Greater Nevada gives you options.

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Who qualifies for deposit secured loans?

If you’re a member and have a Share Savings account or a Share Certificate with Greater Nevada, you can apply to use these as collateral for a deposit secured loan.

Who are deposit secured loans best for?

Deposit secured loans are great options for members who need to borrow the amount in their Share Savings account or Share Certificate while continuing to earn interest on their funds.

What should you consider before taking out this kind of loan?

It’s important to understand that you’ll be using your savings as collateral for your deposit secured loan. That means that if you default, your lender will recoup the funds from your accounts.