Share Secured Loans

 Our Share Secured Loans are approved immediately, regardless of your credit history.

Share Secured Loans

Want to re-establish your credit, or avoid dipping into your savings to make a major purchase? Consider an OTIS Share Secured Loan. The Credit Union will extend credit to our members secured by OTIS Shares, Share Certificates, and/or Money Market accounts. Get access to the money you need today at a low rate while your deposits at OTIS continue to earn interest!  

How a Share Secured Loan Works:
  • Your Share funds function as collateral for a Share Secured Loan.
  • The Credit Union places a hold on the amount you want to borrow against.
  • You may withdraw funds from pledged (collateralized) accounts up to the balance of the loan.
  • Loans 100% secured with a member's shares have NO maximum loan limit.
  • Payments must be large enough to cover principal and interest to avoid negative amortization.
  • Loans secured by Certificates or Shares may be financed for up to a six year (72 month) term.


Learn more about Share Secured Loans here.

It’s easy to apply! Call 897-0900 or stop in at the Credit Union and talk to one of our friendly loan officers today!  

"In approximately 1991 I went into OTIS Federal Credit Union to share my story and to try to repair my credit. I was at the end of my rope and felt desperate. I was recently divorced and had gone through bankruptcy. I met with a representative who was very understanding and helped me set up a long-term plan to get back on track. I started with a small loan secured by money that I had deposited. Once that was paid off, I was able to take out a loan with a co-signer, and after that, was able to apply for a loan on my own. From that point on, life just got better and better. Without the help of OTIS Federal Credit Union, I know that I would not be in the great financial situation that I am in now with very good credit! Thank you OTIS!"

-Carole O., OTIS Member since 1991