What is a Savings Secured Personal Loan?

A Savings Secured Personal Loan is a financing option that allows you to borrow against your Nusenda savings account, using it as collateral. This loan option is ideal for those looking to build their credit score while accessing the funds they need for important expenses, such as home improvements, debt consolidation, or an unexpected emergency.

Benefits of a Savings Secured Personal Loan

  • Lower interest rates: Savings secured loans typically offer lower interest rates compared to traditional personal loans, helping you save money over the life of the loan.
  • Flexible repayment terms: Choose a repayment schedule that works for your budget and lifestyle, with manageable monthly payments.
  • Build or improve your credit score: By making timely payments, you have the opportunity to strengthen your credit history and improve your score.
  • Continue earning interest on your savings: While you borrow against your savings, your account continues to earn interest, allowing your funds to grow even while they serve as collateral.
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Preserve hard–earned savings

With Savings–Secured Loans, you can use your savings as collateral, borrow at low rates, and keep your savings intact.

Fast Application

Fast Application

Applying for a loan is quick and easy through Nusenda's online application system. Apply today!

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Download the Nusenda app to enroll in Mobile and Internet Banking!

Easily access and manage your funds and more with our mobile banking app.

How to apply:

With Nusenda Credit Union, applying for a loan is easy!

Step1

Members can complete an application online, stop by a convenient branch location, or call 505-889-7755 (800-347-2838 outside the Albuquerque area).

Not a Nusenda member? Become one today.

Step2

Once you submit your application, we’ll gather your credit information. Log into Mobile and Internet Banking services to track the approval process and communicate directly with our loan specialists.

Step3

If your line of credit is approved, you will be able to access it in Mobile and Internet Banking.

Savings Secured Loans FAQs