Secured Loans
Keep saving for tomorrow while getting cash to take care of today's needs.
Setting aside money for the future is a smart move. But your savings efforts can pay more immediate rewards. We offer lower rates on loans secured by funds in your Share or Certificate accounts. Borrow for needed repairs, major purchases, medical expenses and more while keeping your hard-earned savings in place and earning dividends.
Share-Secured Loans
- Secured by your Membership Share Savings Account
- Borrow up to 100% of your savings and paid dividends
- Your account continues to earn dividends
- Interest on loan is only 3% greater than the dividend rate you earn on the account
- For the duration of the loan, your account balance must equal at least the outstanding loan balance and cannot be withdrawn
Certificate-Secured Loans
- Secured by your Share Certificate
- Earns dividends while securing the loan
- Borrow up to 100% of the certificate's principal and paid dividends
- Interest on loan is only 3% above the certificate's rate
- For the duration of the loan, your balance must equal at least the outstanding loan balance and cannot be withdrawn
Empower Federal Credit Union is a full-service financial institution serving members throughout New York State.
Empowering you to make the best financial decisions.
Explore valuable tools and education to support your unique financial journey.
Enjoy financial flexibility
Our cards offer an attractive combination of purchasing power and valuable perks.
All loans subject to approval. Rates, terms, and conditions subject to change.