Build Credit Using Savings You Already Have
A Share Secured Loan allows you to borrow against your own savings, so there is no risk of losing funds you don't have. Every on-time payment helps build the credit history you'll need for your next car, apartment, or home — right here on Maui.
How It Works
The amount you borrow is secured by a matching amount in your savings, which is held in a pledged, non-interest-earning account for the life of the loan. As you make payments, the corresponding principal is released back into your regular interest-bearing savings account. Because your savings back the loan, no credit check is required and approval is straightforward.
No credit check
Your savings serve as collateral, so your credit history is not a factor.
Low interest rate
Because the loan is fully secured, you receive a competitive rate.
Principal released as you pay
As you make payments, the corresponding amount moves back into your interest-bearing savings account.
Flexible terms up to 10 years
Choose a repayment schedule that fits your budget.
Who Should Consider This Loan
Whether you're building credit for the first time, recovering from a past setback, or strengthening your credit profile before a larger purchase — a car, a home, or another major goal — a Share Secured Loan is one of the most straightforward ways to build credit history on Maui.
How to Apply
As your local credit union, we're here to support you in building your financial future on Maui.
Membership required. All loans subject to approval. Terms and conditions apply. Contact Valley Isle Community FCU for full details.