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
How to apply for a savings secured loan
If you’re interested in applying for a Savings or Certificate Secured Loan, you can come into any one of our Financial Success Centers or call us at 800.837.4562.
Savings Secured Loan Rates
Effective Date: Monday, June 30th, 2025
| Account Type | Rate | Term | Note |
|---|---|---|---|
| Savings Secured Loan | 2.05% | Up to 180 Months | Variable Rate |
| Certificate Secured Loan | 2.00% + Current Certificate Rate | Certificate terms available from 3 months-60 months | Fixed Rate |
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.
Here to Help
Contact Us
Want to talk to someone?
Call: 800.837.4562
Text: 248.474.2200
Monday - Thursday 9am to 5pm
Friday 9 am to 6 pm
Saturday 9 am to 1 pm
Make an Appointment
Need to come in to speak to someone? Make an appointment at one of our convenient locations.