A great loan option for a money-savvy member to borrow from themselves.
The benefits of a savings or certificate secured loan:
- Are totally secured by funds in a savings account or certificate with LOC
- Offers a substantially lower rate than a traditional loan
- Can be used for any purpose--including the purchase of a vehicle or other large ticket item
- Rates are not based on credit score
- As the balance of the loan decreases with each payment, so does the amount of the hold in the Savings account securing the loan
|Savings Secured Loan||2.03%||Up to 120 Months|
|Certificate Secured Loan||2.00% + Current Certificate Rate||Certificate terms available from 3 months-60 months|
Are you ready to join LOC?
It’s easy to become a member of LOC Credit Union!
Membership is open to anyone who lives, works, worships, or attends school in the state of Michigan.
A current or eligible member's immediate family (spouse, sibling, child, grandchild, parent, grandparent) or an individual living in the same household of a current or eligible member can also join LOC.