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 RichardsLoan OfficerExtension 128
Jamie TurcotteLoan OfficerExtension 124
Caitlin LakeLoan OfficerExtension 108
Darice DubreuilVP of LendingExtension 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!