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Secured Loans and Lines of Credit

We offer a variety of loans and lines of credit that are secured by the balance in your savings account or certificate account – even the value of stock you own.

  • Loans and lines triangle
    Loans and lines of credit starting at $500.
  • Borrow triangle
    Borrow up to 100% of the amount in your savings account or certificate account, or up to 70% 1 of the previous day’s closing value of your stock.
  • Repairing credit triangle
    Great for establishing or repairing credit.

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Stock, Savings Secured, or Certificate Account Secured Loans

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Stock or Savings Secured Line of Credit

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What to Expect When Applying

 

Stock Loan Rates

Stock Loan
Fixed Rate
4.34%
Stock LOC
Variable Rate
8.05%

View all APRs and disclosures

Key Features

 
  • Available as a Pledge of Savings Loan or Savings Secured Line of Credit.
  • Pledge of Savings Loan provides you with a lump sum, which you pay back in monthly principal and interest payments, up to 96-month term.
  • Savings Secured Line of Credit offers low monthly principal and interest payments of 2% of your outstanding balance. Your interest rate varies with the last savings dividend rate declared in the previous quarter.
  • Rate is equal to your current savings account’s dividend rate plus 3%.
  • Your savings funds securing the loan or line of credit are frozen while the debt is outstanding.
  • You may have only one savings secured loan at a given time. Holiday club accounts can’t be used to secure your loan.
 
  • Pledge of Certificate Account terms start at 30 days, not to exceed the maturity date of your certificate account.
  • Rate is equal to your current certificate account’s dividend rate plus 3%.
  • Your certificate account funds securing the loan or line of credit are frozen while the debt is outstanding.
  • A loan may be secured by only one certificate, but you may have more than one loan if you have multiple certificates. IRA certificate accounts can’t be used to secure your loan.
 
  • Available as a Stock Loan or Stock Line of Credit.
  • Use NYSE, NASDAQ, or American Stock Exchange securities valued over $10 as collateral.
  • Stock Loan provides you with a lump sum ($1,000 minimum), which you pay back in monthly principal and interest payments, up to 96-month term.
  • Stock Secured Line of Credit offers low monthly principal and interest payments of 2% of your outstanding balance.
  • You may have only one stock secured loan at a given time.
  • Stocks securing the loan are held by HVFCU, but you keep earning dividends on your stock while you have the loan.

Useful Resources

The BALANCE Financial Fitness Program provides access to free financial counseling and education, including student loan coaching, home ownership education, and rental coaching.

 

1Maximum loan or line is 70% of stock value if used for business purposes. Borrowers may need to pay down loans or provide additional shares if share values fall and loan becomes under-collateralized. This happens when a loan balance exceeds 95% of the stock value.

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