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| Secured Loans |
| Helping you finance the adventures in life. |
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| Some things are really just that solid. |
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| If you're looking for a loan to help build your credit, a secured loan from WECU is your best bet. Using existing funds as security, WECU can offer a loan at a below-market rate - offering the chance to clean up old credit history with a new start. |
The nuts and bolts of WECU's secured loans
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Tell us how much money you want to borrow. We'll "freeze" that amount from your savings account and use it as collateral for your loan.
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Continue to earn high dividends on your savings account balance even though you are unable to use the funds
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Deposited money in your savings account becomes available as you decrease the balance on your savings secured loan
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Borrow up to 100% of the available savings account balance
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Term is up to 10 years
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Fixed APR
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Use the money for anything
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* Annual Percentage Rate (APR) subject to credit approval and loan terms.
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Highlights of a savings secured loan at WECU:
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Payment Protection
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With Payment Protection, you'll find comfort in knowing that an emotional tragedy doesn't have to become a financial one. Disability protection makes your monthly loan payment should you become disabled due to a covered illness or injury. Life protection reduces or pays off your eligible loan balance should you die before paying off your loan.
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Automatic eligibility for most borrowers.
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No medical screening
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Premium included in your loan payment.
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Low group rates that are the same for every borrower
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Protection of your loan collateral and credit rating
For more information about Payment Protection, click here.
Price varies depending on selected protection and loan type.
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