Gulf Power Company Employees CU
GPCE Credit Union Secured Loans

Other Secured Loans

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Share Secured Loans

Share secured loans at GPCE Credit Union are basically designed for your borrowing needs by using the money in your own 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 never need a co-signer either. The maximum amount of your share secured loan depends on how much you have available in your savings account. Your pledged amount automatically reduces with your loan balance.

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 secured 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 Secured Loans

Certificate secured loans are a great way to borrow money using the value of your certificate. The amount of a certificate secured loan cannot exceed the amount of your certificate of deposit. Once pledged as collateral, your certificate of deposit will continue to earn interest as determined by the current rate until maturity. Typically, the rate of interest for your certificate secured loan is equal to a certain percentage above the rate your certificate is earning, such as three percent.

For example, if your certificate of deposit account was earning interest at 1 percent, the credit union would charge you 3 percent above that amount, making the interest rate on your certificate secured loan 4 percent.

Secured Mastercard Accounts

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

Members who are interested in applying for a share secured loan, share certificate secured loan or secured Mastercard account 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.