Keep saving for tomorrow while getting cash to take care of today's needs.
Setting aside money for the future is a smart move. But your savings efforts can pay more immediate rewards. We offer lower rates on loans secured by funds in your Share or Certificate accounts. Borrow for needed repairs, major purchases, medical expenses and more while keeping your hard-earned savings in place and earning dividends.
- Secured by your Membership Share Savings Account
- Borrow up to 100% of your savings and paid dividends
- Your account continues to earn dividends
- Interest on loan is only 3% greater than the dividend rate you earn on the account
- For the duration of the loan, your account balance must equal at least the outstanding loan balance and cannot be withdrawn
- Secured by your Share Certificate
- Earns dividends while securing the loan
- Borrow up to 100% of the certificate's principal and paid dividends
- Interest on loan is only 3% above the certificate's rate
- For the duration of the loan, your balance must equal at least the outstanding loan balance and cannot be withdrawn
Empower Federal Credit Union is a full-service financial institution serving members throughout New York State.
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All loans subject to approval. Rates, terms, and conditions subject to change.