Gulf Power Company Employees CU
GPCE Credit Union Secured Loans

Other Secured Loans

Your money is working smarter for you!

Share Secure Loans

Shared Secured Loans at GPCE Credit Union are basically designed for short-term borrowing needs by using your own money in a savings account as collateral. It’s a great way to borrow money for purchases and at the same time, still be able to earn interest on your own savings account. Aside from providing a convenient way to borrow, share-secured loans can help with establishing and rebuilding credit too.

Another advantage of a share-secured loan is that it may be easier to qualify for, as compared with other types of personal loans. A share-secured loan doesn't require the scrutiny of your credit rating for approval and you may not need a co-signer either. Why? Because you're technically borrowing from yourself rather than the credit union. Qualifying may hinge more on how much you have available in your savings account.

Here are a few reasons to consider a share secured loan:

  • Build credit – establishing a credit payment history
  • Save on future loans – better credit usually offers a lower interest rate
  • Used for any purpose – not limited to how to spend funds, as with a vehicle loan
  • Protect your savings – you are essentially borrowing from yourself and still earning dividends on your savings

Allow GPCE Credit Union to approve you for a share secure loan. Our share secured loans can be financed up to 120 months.* Call us for details at 850-430-1971 or toll free at 800-472-4723. “We’re Here For You!”

Certificate Loans

With a certificate loan, the term of the loan must be equal to or shorter than the term on your certificate of deposit. For example, if your certificate of deposit has a three-year term, your installment loan must be repaid within three years. The amount of a certificate loan cannot exceed the amount of your certificate of deposit.

Once pledged as collateral, your certificate of deposit will continue to earn interest at the rate promised by the credit union. Typically, the rate of interest for your certificate loan is equal to a certain percentage above the rate your certificate is earning, such as two or three percent.

For example, if your share certificate account was earning interest at 3 percent, the credit union would charge you 2 or 3 percent above that amount, making the interest rate on your certificate loan 5 or 6 percent.

Secured Mastercard Loans

Need a credit card but have bruised credit? GPCE offers secured Mastercard Loans. Use the money in your savings as collateral for a credit card. Our secured Mastercard offer non-variable rates and your credit limit is determined by the amount you pledge in your savings.

Members who are interested in applying for Shared Secure, Certificate or Secured Mastercard Loan can simply click on the Apply Now button. Then, select 'Other Secured Loan' type.

Apply Now

*Terms & Conditions
All loans subject to approval. Rates, terms, and conditions are subject to change. Your overall credit worthiness will determine the rate, term, and amount available to you. Fees and charges may apply.