Chemcel Federal Credit Union offers three types of 'Other' Secured Loans:
Share Secured Loan: You may borrow against the money in your share account (savings) at an interest rate 2% above the current dividend rate for up to 60 months. Pledged shares equal to the unpaid balance are frozen in the account during the term of the loan.
Share Certificate Loan: You may borrow against the money in your share certicate at an interest rate 2% above the rate of your certificate up to 60 months.
Stock Secured Loan: You may borrow against stock that you have purchased at 75% of the current price of the stock.
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