Certificate of Deposit (CD) Secured Loans

GET THE EXTRA CASH YOU NEED WITHOUT TOUCHING YOUR SAVINGS

Looking for a simple way to access extra cash while keeping your savings right where they are? A fixed-rate Certificate of Deposit Secured Loan lets you use your CD as collateral, giving you low-rate financing without dipping into your funds. And the best part? Your savings keep earning dividends for the entire length of the loan.

ENJOY LOWER RATES AND LESS RISK WITH A CERTIFICATE SECURED LOAN

A Certificate Secured Loan offers lower rates than most other types of personal loans, along with predictable payments, and the peace of mind that your savings will continue to grow.

With a Wasatch Peaks Credit Union Certificate Secured Loan, you can:

• Borrow up to the amount of your Certificate: You can get as much as you have saved in your certificate.
• Repay over 60 months: Enjoy manageable monthly payments over the full five years.
• Lock in a low, fixed rate: Get lower rates than with an unsecured personal loan.
• Get approval quickly: With your funds already on deposit, your loan moves quickly.
• Apply online easily: Our simple online application makes getting funds even easier.
• Earn while you borrow: Your CD continues to earn throughout the whole loan. 

APPLY FOR A CD SECURED LOAN IN THREE EASY STEPS

★★★★★

"I have been banking here for a few months. I really like it. There is an easy mobile app to use, friendly employees at the branches, and you can even log in and message questions you have. Thanks for all the help, guys. I will always recommend Wasatch Peaks Credit Union."

- Sarah B., Ogden, Utah

FAQs ABOUT CERTIFICATE OF DEPOSIT SECURED LOANS

• What is a certificate secured loan?

  A Certificate Secured Loan (or CD Secured Loan) is a loan backed by the funds in your Certificate of Deposit. Your CD acts as collateral, helping you qualify for a lower interest rate while keeping your savings intact.

  You can borrow up to the amount in your certificate and repay it over 60 months.

• Is a CD secured loan a good idea?

  Yes! A CD Secured Loan is a smart option if you need extra funds without touching your savings, want to build or rebuild credit, or might not qualify for a low-rate unsecured loan due to your credit history. It offers low fixed rates, predictable payments, and lets your CD continue earning interest while you borrow. Because the loan is secured by the funds in your CD, it’s typically easier to qualify for than an unsecured loan, even for lower credit scores.

• How does a secured loan work at a credit union?

  At a credit union, a secured loan uses one of your assets, like a certificate of deposit, as collateral. This reduces the credit union's risk, which typically results in lower interest rates for you. You borrow up to the value of your asset, make regular payments over the term of the loan, and retain ownership of your savings. After the loan is paid in full, you’re free to access your savings as needed.

• Do you get your money back from a CD loan?

  Yes. Your CD remains yours throughout the loan term, and you continue earning interest on it. Once the loan is repaid, nothing is deducted from your CD; it stays intact and fully available to you.

• Do I need to join Wasatch Peaks Credit Union to apply for a Certificate Secured Loan?

  Yes, CD Secured Loans are only available to members. If you’re not yet a member, joining is easy, and we’ll help you find the eligibility option that works for you.

  You can become a member if:

  • You are an immediate family member of an existing member-owner: parent, child, brother, sister, spouse or surviving spouse, grandparent, or grandchild. This includes stepparents, stepchildren, stepsiblings, and adoptive relationships.
  • You live, work, worship, attend school, or regularly conduct business with companies and other legal entities located in Weber, Davis, and Morgan Counties, or within a select underserved community located in Box Elder, Salt Lake, Summit, Utah, Tooele, and Juab Counties.
  • Member of Trails Foundation of Northern Utah (TFNU.org), a 501(c)(3) NGO functions as a planner, promoter, constructor, and protector of a network of public paths, trails, and related open spaces for non-motorized use. Not a member of the Trails Foundation Northern Utah? Wasatch Peaks will enroll you at no additional cost to you.
  • If none of these fit, but you still want to join, a Wasatch Peaks Member Service Representative will find the best eligibility option for you.

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