Mid-City branch is closed for the remainder of today, 09/08/26 and 09/09/26, due to a facility issue. We apologize for the inconvenience.

Build your credit

Secured Loans

Our secured loans let you borrow against funds you have in your savings account or certificate – so you get the money you need while your savings stay put and keep earning interest.
Apply Now

Use your savings as collateral

Why drain your savings when you don’t have to? A secured loan offers affordable financing, with great low rates and an easier approval process, since the loan is backed by your savings. Plus, it’s one of the smartest ways to build or rebuild your credit.

  • Borrow a minimum of $500, up to 100% of your available savings or certificate balance
  • Your loan rate is your current savings or certificate dividend rate plus 2% – keeping your cost of borrowing exceptionally low

Pair your secured loan with a Firemen’s Federal checking account or one of our low-rate credit cards to get even more from your membership. And if you have loans held elsewhere, ask us about refinancing – you may be able to save.

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Fast and easy

How it works

Secured loans offer great low rates and can help you build credit. See how it works and if it’s a smart move for you.

1

Your savings act as collateral

Your Firemen’s Federal savings account or certificate acts as collateral for the loan, meaning you promise to repay the loan or you lose the money in your account.
2

You keep earning interest

Your savings that secure the loan stay right where they are and continue to earn interest – you just can’t use that savings during the loan term.
3

Your money stays secure

The funds securing the loan remain in your account and continue to earn — they simply aren't available for withdrawal during the loan term.

Is a secured loan right for you?

You may want to consider a secured loan if these sound familiar.

You want to keep your savings

A secured loan helps you make a purchase without depleting your savings.

Your credit score needs help

A secured loan is a great way to build or rebuild your credit history.

You want a lower interest rate

Secured loans offer lower rates loan than most other loan options.

Apply Now

What our members say

Affordable loans

"I love Firemen's! I couldn't get a loan from a bank because I filed bankruptcy six years ago, and Firemen's approved me with no problems. I have a cheap note and low interest rate. Thanks for given me and my credit another shot!"

- Felicia D.

Best credit union

"This credit union has by far been the best one I have had. I've had several in my life time, but this one works with you and helps you. They find ways to help your credit and give you loans when other places will not. I love that they value their customers before anything. I strongly recommend them to anyone. "

- Jeffery S.

Help during tough times

"I was going through a rough time and was unsure of how I would be able to afford Christmas, much less the regular bills I had coming in. Firemen's truly work with you to fit your needs and make it a fast process. I will definitely be keeping them in mind for future financial needs. I love this credit union. I was able to get over the little 'bump in the road' I had with ease, and I am truly grateful."

- Stacey T.

We're here to help

Secured Loan FAQs

A secured loan allows you to borrow money using funds in your savings account or certificate as collateral. This can help you qualify for lower loan rates while keeping your savings intact and earning interest.

Your savings account or certificate secures the loan. The funds remain in your account and continue earning dividends, but they are unavailable for withdrawal until the loan is paid off.

You can borrow a minimum of $500 and up to 100% of your available savings or certificate balance.

Yes. Your pledged savings or certificate continues earning dividends throughout the loan term.

No. The funds securing the loan are frozen during the loan term and cannot be withdrawn until the loan is repaid.

Your loan rate is based on your current savings or certificate dividend rate plus 2%.

Yes. Making consistent, on-time payments on a secured loan may help establish or improve your credit history.

Yes. A secured loan can help you avoid early withdrawal penalties by borrowing against your certificate instead of cashing it out.