Build credit with savings you already have
Use your Linden savings or share certificate to secure a loan. On-time payments may help you build credit while your money keeps earning dividends.
Two ways to start building credit
Choose a loan secured by your savings account or share certificate, then work on your credit through on-time payments.
Savings Secured Loan
Use savings you already have to secure a loan and begin adding positive payment history to your credit report.
- Payments reported to the credit bureaus
- Held savings continue earning dividends
- Held funds become available after the loan is repaid
Certificate Secured Loan
Use your share certificate to secure a loan and work on your credit without closing the certificate early.
- Loan term coordinated with your certificate term
- Certificate continues earning dividends
- Certificate stays open while you repay the loan
Why build credit with Linden?
Building credit can feel like a lot to figure out. We’ll explain how the loan works, walk through the payments with you, and answer your questions without judgment.
- Simple explanations of how payments may affect your credit
- Certified Financial Counselors available when you want guidance
- Savings that continue earning while you build payment history
- Real people who take time to understand where you’re starting
I have been a member for more than 30 years and have always felt genuinely valued. From the beginning, the staff has been kind, friendly, and helpful, offering sound financial guidance that has benefited me over the years. Whether I have questions about my checking or savings accounts or need a loan, this is where I turn. Their genuine care for members sets them apart. Every interaction has been positive, and I am confident that my financial needs are well cared for. This level of personal service is rare, and I am grateful to be a member and appreciate the consistently outstanding service. Thank you!
- Angela M
- Linden CU Member
Current Savings + Certificate Secured Loan Rates
| Loan Type | Term | APR1 as low as |
|---|---|---|
| Savings Secured Loan | Varies | 3.00% |
| Certificate Secured Loan | Same as Certificate | 2.00% over Certificate Rate |
1APR = Annual Percentage Rate. Rate based on creditworthiness and term of loan. Rates are subject to change at any time and are not guaranteed.
Savings + certificate secured loan questions, answered.
How does a savings or certificate secured loan work?
A savings or certificate secured loan lets you borrow using money you already have at Linden. We place an amount equal to what you borrow on hold in your savings account or share certificate until the loan is paid in full. Because your deposit serves as collateral, these loans typically offer lower interest rates than unsecured loans.
Can a savings or certificate secured loan help me build credit?
We report your loan payments to the credit bureaus, so making them on time can add positive payment history to your credit report. Credit scores depend on several factors, so results can vary.
Can I use the money securing my loan?
The amount placed on hold won’t be available to withdraw while you repay the loan. It remains yours and becomes available again when the loan is paid in full.
Do I still earn money on the “held” money in my savings?
Yes. For savings secured loans and certificate secured loans, the funds that are placed on hold still earn money (called dividends) for the duration of the loan.
What can I use the loan for?
Building credit is the most popular reason why Linden members choose a share secured or certificate secured loan, but the money borrowed could help you cover other things like emergency expenses, minor home improvements, or debt consolidation.
What happens if I miss a payment?
Missing a payment may hurt your credit and could put the savings or certificate securing the loan at risk. If you think you may miss a payment, contact us as soon as you can so we can explain what happens next.
Wherever you’re starting, we’ll start there with you.
