How does Share Secured Loan work?
With a Rome Kraft Employees Credit Union share secured loan, your deposit in a share savings account serves as collateral to secure your loan. You will have a low fixed rate on your loan and you can use this loan for any purpose. We have seen our members using these loans for business, line of credit to cover overdrafts, etc. You or your business pays the installment while your life savings are securely earning interest.