Chartway Loans: Share- and Certificate- Secured Loans
Any of your Share and Certificate accounts can serve as collateral for this loan instead of your house or vehicle. It's a great way to get an incredibly low rate loan and preserve your savings at the same time. These loans are also ideal for those looking to build or re-establish their credit.
Product Features
- Longer loan terms
- Flexible due dates
- Rates are 3.00% above the highest tiered share rate, or certificate rate
Requirements
- Must be a Chartway Member
- Must be eighteen or older
- Member must disclose purpose for loan if amount is greater than $10,000.00 to comply with the Bank Secrecy Act
Available for Special Shares, Custom Shares, Prime Shares, and Share Certificates
Money Market acounts may secure a loan only for the last five days of the month and must be paid off as soon as dividends are paid
Checking, IRA Certivicates and Market Link accounts can not be used to secure a loan