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.

 Kariss Richards Loan Officer Extension 128
Jamie Turcotte Loan Officer Extension 124
Caitlin Lake Loan Officer Extension 108
Darice Dubreuil VP of Lending Extension 118

Please note: If you apply during non-business hours, we will contact you the next business day.


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