Secured Loans offer benefits such as lower rates of interest, high borrowing limits and long repayment terms.

Greater Central Texas Federal Credit Union offers Secured Loans to its members at competitive rates. The loans provide members with a financial boost when sudden expenses crop up; for a vacation, home improvement, purchasing a new car or a pre-owned vehicle, etc.

A Secured Loan is granted against collateral that is either equal in value of the loan amount or greater (at least 20 percent greater).

For a shared Secured Loan, the loan is backed by a share account that is held with Greater Central Texas Federal Credit Union. This excludes an IRA. It is necessary for the balance in the share account to be equal to or more than the loans balance (through its life).

• Fast approvals: Loans are approved within 24-48 hours of receiving a completed application form and verification of income.
• Convenience of payment: Services like direct deposit, payroll deduction and automatic transfer are offered to members to facilitate repayment of the loan.
• Lower interest rates.
• Promote savings.
• Skip-a-payment option.
• Higher borrowing limits.
• Easy application process.
• Flexibility: There is an option of converting fixed-rate loans to variable-rate loans. Even the amount of premium can be varied as per the convenience of the borrower.
• Helpful and friendly staff.
• Involvement of members to vote on new policies.
• No minimum balance restraint.
• Programs to help members manage their budget and unexpected expenses.
• It is locally run.
• Insured by the National Credit Union Share Insurance Fund (NCUSIF) – A Federal government agency.

GCTFCU is a not-for-profit financial cooperative that operates for the common benefit and welfare of its member-owners. Its members consist of people from the local community’s churches, schools and also employers. All members are equal owners. For more information on availing Secured Loan from Greater Central Texas Federal Credit Union, call at - (254) 690 - 2274