Secured Loans
The cover you need for life's unexpected twists and turns.
When an emergency happens, you shouldn't have to use every last dime of your savings.
Share Secured Loans
Life happens-many of us are just one water heater needing replaced or car repair away from being in a tight spot. If you have money set aside, but are scared to use all your savings to cover these unexpected emergencies, consider a shared secured loan.
When you have take out a shared secured loan, you borrow an amount up to the total dollars of available balance in your Meritrust savings account. So, if you have $1000 in your savings account, that is the dollar amount available to you. Once you've paid off the loan in its entirety, you have access to the full amount of your savings account balance.
Share Certificate (CD) Secured Loan
Let's say you've been saving well and taking advantage of the Meritrust certificate of deposit account, but you want cash for a spontaneous vacation to lock in your plane ticket? Take advantage of the Share Certificate (CD) Secured Loan.
Similar to a shared secure loan, you borrow an amount up to the total dollars of available balance in your Meritrust CD. Once your loan is paid off, your CD funds become available upon maturity in entirety.
What's the Benefit?
- You'll get our everyday low rates and terms.
- Most loans can be processed in about an hour.
- There are no prepayment penalties if you pay off the loan early.
- You can set up convenient automatic payments.
- Credit life and credit disability payment protection are available for a low fee.
