Secured Loan
Borrow from yourself without using your own money.
A Secured Loan lets you get cash when you need it, without dipping into your savings. It’s a smart way to meet today’s needs while continuing to save for the future.
Save + Spend at the same time
You need money for an immediate expense or purchase. There’s enough in your Addition Financial Savings or Money Market account to cover it, but you hate the idea of using the money you worked so hard to save. We’ve got a solution for you: instead of draining your savings, borrow against it! With a Secured Loan, you pledge your savings as collateral. It continues to grow and earn dividends while you use and repay the loan you need.
Build credit while you borrow.
Because you’ll be backing the loan with your own funds, it’s often easier to get approved for a Secured Loan than an unsecured loan. You may even qualify for better rates when you borrow this way. And while you work on paying your Secured Loan back, you’ll be building your credit plus protecting your savings.
- Minimum loan amount: $500
- Maximum loan amount is 100% of available funds, not to exceed $300,000
- Repayment terms of up to 120 months
- Rate is current 60-month certificate rate + 3%
- Payment Protection available
Payment Protection
Establish peace of mind for yourself when you choose to cover your Addition Financial loan with Payment Protection. By adding payment protection to your new loan, you’ll have one less thing to worry about during a period of reduced income due to disability, illness or death.
Skip-A-Pay
Need a little extra breathing room in your budget? With our Skip-a-Pay program, you can skip your eligible loan payment for the month and use those funds where you need them most. It's just one more way we're here to support you on your financial journey.
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