Did you know that you can borrow against money you have in your Bronco Share Savings Account or Certificate Account?
Using your existing accounts as collateral against the loan is usually the fastest and least expensive way to borrow the money you need, when you need it. It’s also a great way to build a credit history. Plus, a Share Pledged Loan does not require a pre-approval process and payments for your loan can be made by automatic transfer.
Stop by any Bronco office, call us at 757.569.6000 (or toll-free at 1.800.667.BFCU), or email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it for additional information or to get your loan started.
Keep in mind that, like any loan, there is a fee associated with borrowing against your own money (our current Savings or Certificate Annual Percentage Rate plus 3.00%). When you apply for a Share Pledged Loan, funds equal to the balance of the loan are frozen in your Savings or Certificate Account. As the loan balance is paid down, funds are released back into your available balance.
A Bronco Share Pledged Loan offers:
- No minimum loans amounts—you may borrow equal to the funds you have available to back the loan.
- Your “frozen” assets will continue to earn dividends (where applicable).
- No prepayment penalty.
Check out our rates and loan calculators.
Not a member yet? Give us a call today at 757.569.6000.
