When you need money but don’t want to deplete your savings or checking accounts, using money in your existing Bronco share or certificate accounts as collateral is the fastest and usually the least expensive option. It's also a great way to build your credit score and credit history as you make your loan payments on time.
A Share Pledged Loan does not require a pre-approval process because you are borrowing against your own money. You may borrow up to what you have in your share or certificate accounts, and payments can be made by automatic transfer.
When you initiate a Share Pledged Loan, funds equal to the loan balance are frozen in your share or certificate accounts. As the loan balance is paid down, those funds are released back into your available balance. You will pay interest with a Share Pledged Loan, but there are several benefits, including those listed below.
A Bronco Share Pledged Loan offers you:
All rates are subject to change without notice. Rates stated with "as low as" can go up to a maximum rate of 18.00% APR, depending on applicant's credit worthiness and the term of their loan. Membership eligibility required. See a Member Service Representative for more details.