Share Secured Loans

Are you currently borrowing money? Do you have a savings? If you answered “yes” to both of these questions, you may want to consider getting a Share Secured loan from Advantage One instead. The interest rate on Share Secured loans is only 3% over the interest earned on the funds you’re borrowing against.

How It Works

Share Secured loans allow you to borrow against the funds in your savings, CDs or side shares by pledging the funds as collateral on the loan. This means that your funds will continue to earn interest, but that you will not have access to them until you begin to pay down your loan balance. The amount on hold in your pledged shares will mirror your loan balance. For example, if your monthly principal loan payment is $200, each month as you pay on your loan you will regain access to $200 more of your pledged shares until the loan is paid off. At that point, you’ll regain complete access to your pledged shares.

A Share Secured Loan is a perfect loan for someone that does not want to take away from their savings, but wants to pay the lowest interest rate possible on their loans. Some benefits of the Share Secured Loan include:

• Lower rates than traditional unsecured loans
• Pledged shares still earn dividends
• Easy monthly payments
• Helps build your credit

Secured Loans

Looking for a great rate on your next loan? By pledging collateral, we're able to offer rates even lower than our Signature Loan rates. This is because the credit union takes a security interest in your collateral. All collateral is subject to approval by the credit union, and could include a car, boat, or other recreational vehicle with a clear title. Not sure what qualifies as collateral? Simply call us at 734-676-7000 for more information. We can even take your application right over the phone.
 

Signature Loans

We offer many loan programs to meet your needs. Whether you need extra cash for holiday shopping, a great vacation, debt conslidation, wedding expenses, or any other purchase...we can help!
 

Overdraft Line-of-Credit Loans

Apply for your overdraft protection loan with credit limits up to $5000, and you´ll never worry when you perform a transaction in excess of your checking balance. A transfer from your overdraft protection loan will cover up to the amount of your credit limit. You´ll also avoid paying fees for returned checks, and your transfers to and from the overdraft coverage will be recorded on your statement and available on SMART or NETBRANCH.