Certificate Secured Loans
The length of these loans depends on the certificate’s maturity date, so they’re ideal for people who are trying to get loans but running into difficulty because they have no credit or damaged credit. Because it’s your money being used as collateral for the loan, there is lots of flexibility on how high or low you want your payment.
Because the certificate’s rate is fixed, the loan rates aren’t variable and come at a low 3% above the certificate dividend rate.
Apply now from your computer, mobile phone, tablet, or in person with one of our friendly loan officers. More questions? Contact Consumer Loans at 907-459-5970.
A certificate secured loan is secured against a certificate’s value rather than the funds in a savings account.
- If you’re struggling to build or repair your credit, a Certificate Secured Loan can be a credit builder and a smarter approach than a costly, high-interest credit card.
- Secured loans offer less potential for misuse.
- A smart way to build credit with little risk.
- The loan’s terms can’t exceed the certificate’s maturity date, which places some restrictions on these loans.
- Eliminate the need for a co-signer by putting your funds in your certificate to good use!
*Annual Percentage Rate is on approved credit. Loan fees and terms may vary, and will be disclosed at the time of the loan verbally and in the contract. See the Rates tab on this page for complete rate and fee details.
"Thank you so much A., for all the research and loan information and guidance you provided for me today. I'm sure it was a busy day for you being as it was a Monday and I'm sure you had many more important things that needed your attention yet you took time away and helped me, the little guy. Your smile and professionalism did not go unnoticed. I thank you again and wish you the very best in all your endeavors!"- J.D.
Type of Loan Term APR*
Certificate Secured Loan
Loan term is equal to the certificate term. Fixed interest rate is 3% over Certificate Dividend rate.
Refer to our Pricing Guide (PDF) for transaction and activity fees, as well as credit union membership fees. A loan processing fee of $35 will be charged per signer. Other loan fees and terms may vary, and will be disclosed at the time of the loan verbally and in the loan disclosures.
* APR = Annual Percentage Rate. Current as of 27 January 2023. Up to 100% financing available, some restrictions may apply. Interest rates and terms dependent on credit qualifications. Interest rates on new Certificate Secured Loans are subject to change at any time. Loans under $2000 may have substantially higher APR. Optional Spirit of Alaska Protection available.
Contact the Loan Department at (907) 459-5970 for more detail.
Federal law requires us to verify all identities when opening new accounts. If you are applying with a joint applicant, their consent is implied when the application is submitted with the on-line loan application.
Frequently Asked Questions
Are rate terms variable?
No. A certificate secured loan is a fixed rate loan because certificates by nature are fixed rate. The loan rate for the secured loan is always a 4% fixed rate above the rate of the certificate.
Can I lengthen the term of my loan?
A term rate on a certificate secured loan can never exceed the maturity date of the certificate. For this reason, be sure to work with our consumer loans specialists to set-up the best term possible.
Can I skip a payment on a certificate secured loan?
No. Skip-a-Pay is not available due to the nature of the loan.
How can I find out my loan balance?
You can find all your loan information by accessing e-Teller.
Can I change the loan payment date?
Come to one of our branches and our loan officers can help you with changing your payment date.
How can I get my loan payments to be deducted automatically from my checking or savings accounts every month?
Come to any of our branches or download and fill out an Automatic Payment Authorization form.
How can I get more loan payment coupons?
CU issued paper loan coupons are available for a small, $5 fee. Call 907-459-5970, come in and see us, or download a blank coupon to print out.
- Are rate terms variable?