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Secured loans
Lower rates, easier to qualify
Secure a loan with your Global Savings or Certificate Account for a more affordable rate.
With a secured personal loan, you can get the cash you need to finance big projects or unexpected expenses. Or, you can use your loan to consolidate other debts and simplify your monthly payments.
- We offer competitive, affordable rates.
- There are no application or origination fees.
- Apply online, by phone, or in a branch.
If you don’t want to spend your savings, you can still get the cash you need.
When you secure a loan with your Global savings account or certificate account, you get a better rate—and you continue to earn dividends on your savings.
- A Pledge of Shares Loan is secured with your Global savings account, and it can be a great way to establish or repair your credit.
- A Pledge of Certificates Loan is secured with your Global certificate account. You get access to the money you need without any withdrawal penalties.
1
Apply for a loan
Apply online, by phone, or in a branch—with no credit check for a secured loan.2
Get a decision
In most cases, we can make a decision on your loan application in under 24 hours.3
Get your loan
After you’re approved and funded, you can set up automatic payments from checking or savings.In most cases, we can make a decision on your loan application in under 24 hours. In some cases, we may need to ask you for more details, and then the process takes a little longer.
You’ll need to provide the following information on your loan application:
- Name
- Social security number
- Physical and mailing address
- Employment information
- Gross monthly income
- Date of birth
In some cases, we may ask for additional information after you submit your application.
With a secured loan, we use the money in your Global Credit Union Savings or Certificate Account as collateral for your loan. This means that if you can’t make your loan payments, we will use the money in your Savings or Certificate Account to pay back the loan.
Because they are secured by collateral, secured loans typically have lower interest rates that unsecured loans.
If you’ve had credit problems, you may have difficulty qualifying for an unsecured loan. Secured loans are easier to qualify for than unsecured loans because the money in your Global savings or certificate account acts as a collateral for your loan.
Taking out a secured loan and making all of your payments on time can help you rebuild your credit, establish a positive credit history, and improve your credit score.
To apply for a secured personal loan, you need to have a Global Savings or Certificate Account, which acts as collateral for your loan. If you don’t have a Global Savings or Certificate Account, you can apply for an unsecured personal loan, or you can become a member and open a Global Savings or Certificate Account.
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1Interest rate is dependent upon the credit qualifications of the borrower(s). Rates are subject to change at any time for any reason. See our rates page for full details.