Secured Loans

HVFCU lets you borrow up to 100% of the value of your savings account at a competitive rate, that is your current savings account’s dividend rate plus just 3%. Flexible options allow you to take the money as a lump sum and use it as a line of credit.

  • Loans and credit lines available from $500 up to 100% of the value of your savings account.
  • Your money keeps working because you keep earning dividends on the secured amount.
  • You’re effective net interest rate is only 3%.
  • Good for establishing credit.

Two Attractive Options

When you secure a loan with your HVFCU savings account as collateral, you can choose among these options:

  • Principal and Interest: This option provides you with a lump sum, which you pay back in monthly principal and interest payments for up to 96 months. Fixed rate programs are available.
  • Line of Credit: You can obtain sums in $500 increments up to the value of your savings account, and then make monthly payments of 2% of the outstanding balance. Principal and interest payments are required each month. With this option, the interest rate varies with the last savings dividend rate declared in the previous quarter.

For all three options, the savings account funds securing the loan or line of credit are frozen while the obligation is outstanding. You may have only one of the three savings secured loans at a given time. Please note that holiday club accounts can’t be used as collateral for these loans.

Account Minimum / Maximum Financing Fixed APR Variable APR
Rates are accurate as of 4/19/14 and are subject to change without notice.
Pledge of Savings 100% of savings balance ADR + 3% 2 na
Savings Secured Line of Credit Increments of $500 up to 100% of savings balance na 3.10%

2 ADR = Annual Dividend Rate

APR = Annual Percentage Rate. The variable APR is subject to increase.

Apply for a Savings Secured Loan or Line of Credit

To apply online for any of the loans listed above, please stop into any of our branches or call us at 845.463.3011 / 800.468.3011, Monday – Friday 8 am – 7 pm EST or Saturday 9 am – 5 pm EST.


© 2014 Hudson Valley Federal Credit Union

159 Barnegat Rd. Poughkeepsie, NY 12601
ph: 845.463.3011 / 800.468.3011

Routing Number : 221979363