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Share & Certificate Loans

Loan Details

With a Share Secured Loan, you borrow against your savings at Democracy FCU and receive a low-rate loan, while still earning interest on your financial resources on deposit!

  • Low- rate loan is secured by funds in your savings account or in share certificates
  • Good alternative to adding to higher cost credit card debt
  • Streamlined application process with no credit review with Democracy FCU
  • Continue to accrue dividends during the loan period
  • Member Choice Borrower Security
  • Helps build or repair credit

Related Products and Services

Why get a share & certificate loan at Democracy FCU?

You may need to take out a loan for various reasons, and Democracy Federal Credit Union offers share-secured loans to our customers. By taking out this type of loan to make a purchase, you don’t have to drain your savings account. Typically, these loans are under $5,000.

Why Take Out a Share-Secured Loan?
In a certificate loan, the credit union uses money in your account as collateral for the loan. Essentially, the credit union you borrow from puts a hold on your savings account equal to the loan’s amount until you’ve paid off your loan. As a result, you’ll get a better interest rate, which is especially important for an individual with a low credit score. Credit scores can be low if you haven’t established very much credit or haven’t made payments in a timely manner. Other types of loans will not use your savings as collateral, which results in more risk to the credit union. 

A share-secured loan is ideal if you need to build or repair your credit. Good credit is vital because it helps you get better interest rates on your future loans.

Borrow From a Reputable Credit Union
Democracy Federal Credit Union offers certificate-secured loans to all our customers. When you complete our share-secure loan application, there is no credit review, so you’ll be approved for the loan no matter what your credit history is. The funds in your Democracy Federal Credit Union savings account will be the collateral. Additionally, you’ll continue to earn dividends throughout the loan period.

Review our rates broken down by loan period. This provides:

  • Essential information on APY
  • The term of the loan
  • The amount of money you need in your savings account

Contact Us
Democracy Federal Credit Union has been around since 1936, and we strive to serve those living and working in Washington, DC, as well as parts of Maryland and Northern Virginia. Please contact us if you have questions about our share-secured loans or want to take one out.