Share Secured Loans - Members Heritage CU

Q: Will a secured loan affect my credit?

A secured loan may temporarily lower your credit score as you take on new debt. However, making full, on-time payments can help boost your score over time. Since it's backed by your deposits, it's a great option for building or rebuilding credit.

Q: How much can I borrow on a Share Secured Personal Loan?

You can borrow up to the full amount in the savings or certificate accounts against which your loan is secured.

Q: Are there guidelines for how I can use this loan?

No, you can use the funds however you choose. Just ensure you can repay the loan in full, including interest.

Q: What are the repayment terms on a Share Secured Personal Loan?

Members Heritage Share Secured Personal Loan terms can be anywhere from 1-10 years.

Q: What assets can be used as collateral for a Share Secured Personal Loan?

Unlike traditional secured loans backed by property or home equity, our Share Secured Personal Loans use your Members Heritage savings or share certificate funds as collateral. While these funds are held during the loan term, they continue earning dividends.

Q: Who can apply for a Members Heritage Share Secured Personal Loan?

You need to be a member of Members Heritage Credit Union to apply for a Share Secured Personal Loan. You can become a member if you live, work, worship, attend school, or have family members within the 22 counties contained in Kentucky’s Bluegrass or Gateway Districts, including Anderson, Bath, Bourbon, Boyle, Clark, Estill, Fayette, Franklin, Garrard, Harrison, Jessamine, Lincoln, Madison, Menifee, Mercer, Montgomery, Morgan, Nicholas, Powell, Rowan, Scott, and Woodford counties.

Share Secured Personal Loan Details

Want to build credit without using your home, car, or other assets as collateral? Need extra cash for debt consolidation or future plans?

A Share Secured Personal Loan lets you borrow against your Members Heritage savings or certificate accounts while your money earns dividends.

Borrow up to your savings balance

Enjoy lower rates than unsecured loans

Keep earning dividends while repaying

Build credit with on-time payments

Turn your savings into a financial boost.

Members Heritage Membership Benefits

When you join Members Heritage Credit Union, you're not just a customer — you're a valued member! Membership offers access to a full range of financial products and other valuable perks. Become a member today for banking that puts your needs first!