Home About Genesee Co-op Contact Us Become a Member Online Banking Login Search Site Services Loans Mortgages Rates Financial Education Home/Loans/Share-Secured Loans Share-Secured Loans A share-secured loan is a way to use your own money that is in your savings account at the CU to obtain a loan at the credit union. The money in your account serves as a pledge or as collateral for the loan. The rate for this loan is 5.00% APR above our current declared dividend rate for the regular share savings account. This type of loan is a way to help establish or repair credit and sometimes we ask for a $100 pledge for a $100 share-secured line-of-credit when a member has limited or no credit history. Oftentimes, members were going to spend their savings for a purchase, but instead obtain a share-secured loan to ensure that they keep their savings intact and prefer to make monthly loan payments at a very affordable rate. Loans New and Used Auto Loans Personal Unsecured & Secured Loans Debt Consolidation Loans Overdraft Line-of-Credit Alternative Payday Line-of-Credit (APLOC) Share-Secured Loans Paycheck Protection Program Our Members make the difference. Member Since 2001 "The credit union has helped me straighten out my credit so I could own a home. They helped me every step of the way to homeownership right down to recommending and suggesting various avenues to save money and providing me with my first mortgage. They have always been there to make recommendations when I needed financial advice. I'm a member for life because they've made such a difference in my life." June Capitulik LOST or STOLEN VISA Debit Card? Please call 1-888-241-2510. Contact Us 395 Gregory St. Rochester, NY 14620-1327 Phone: 585-461-2230 Fax: 585-461-3189 Get Directions Hours Mon, Tues, Wed 10am-5pm Thurs, Fri 10am-6pm Our telephone banking service and this website are accessible 24 hours, 7 days per week. Quick Links Learn about Services Check Rates Become a Member Send a Message Privacy Policy Site Map Federally insured by the NCUA ©2021 Genesee Co-op Federal Credit Union. All rights reserved.