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SSFCU secured (savings) loan

Established Member

SSFCU secured (savings) loan

hello, thanks for reading my post. i just opened a saivings account with SSFCU and am about to deposit a certain amount to secure a loan against my savings. 


i wouldn't mind doing one for a bit over $3k to make it a 3 year loan, but i wanted to get feedback from anyone who has used SSFCU credit union for a similar loan to post how their experience went if possible. from what i reada here last night and my convo with rep over the phone i should be able to keep the loan open for 3 years even if i withdraw it down to less than 8.9% of the loan or around $270ish.


would just like to verify bc i tend to triple check things when i have the time.  will my payment due date switch to way later, or will my monthly payments be due just very small amounts? i just want to make sure it stays open for 3 years and i don't get a late payment bc i forgot to pay a $7 monthly payment or something.


if anyone has experience with SSCFU credit union, doing a savings secured loan, pplease post and let me know how it went. also from what the rep told me as i pay it off, which would happen almost immediately for over 91% of it, i will get it back in a few days unfrozen.


thanks for your input! (ps, i wrote this post and edited it before and it disappeared. so if the similar post re-appears please feel free to delete the other one)

scores 7/27/2020 between 650-680
cap1 quicksilver $1k discover $1.1k CSP $7.9k
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