Secured Loans

When a borrower uses collateral to ensure payback, we classify that loan as a Secured Loan. The collateral may be a home, a vehicle, stocks, or even money held in a CD or savings account. Essential FCU has many secured loan options available to our members and a variety of loan repayment options.

Secure your loan with a savings or certificate account, or the stock you own, to receive lower rates and favorable terms.


  • Essential FCU may lend up to 100% of the balance of a savings or share certificate (CD) account.
  • Loans secured by shares may be financed up to 5 years while loans secured by CDs are payable upon maturity of the certificate, and may be renewed if the certificate pledged as collateral is also renewed.
  • Single payment loans secured by savings or CDs may be refinanced upon payment of accrued interest.
  • Call a Essential FCU Member Service Representative for current rates.


  • Use the Dow Chemical Company stock or Other Publicly Traded Stocks as collateral.
  • Financing limits are based on a percentage of the current market value of the stock as listed on the Stock Exchange at the time of the application.
  • Stock Secured Loans may be financed up to 5 years.
  • These loans will be reviewed quarterly to insure adequate protection for the remaining loan balance. Additional collateral may be required if the stock values decline.
  • If a stock pledged as collateral splits, the member will be obligated to bring in additional collateral if the loan is not fully collateralized, or pay the loan down to the collateral value.