First Choice Community Credit Union
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Secured Loans  

A key being dropped from one person's hand into another person's hand in front of a car with a bow on it First Choice offers a wide variety of secured loans with favorable terms and competitive rates. Types of security—known as collateral—that we accept include:

  • New and used autos and trucks
  • New and used recreational vehicles including most types of motor homes and pull-behind campers
  • New and used motorcycles, all-terrain vehicles, and dirt bikes
  • New and used boats and other types of personal water craft
  • New and used farm equipment
  • New and used mobile homes
  • Unimproved property
  • Improved property (1st and 2nd mortgages)
  • First Choice shares or share certificates (excluding IRAs)

First Choice interest rates for secured loans reflect general economic conditions and the local competitive market. We determine individual loan rates by the loan applicant’s credit score as established by Equifax.*  The interest rates for share and share certificate secured loans are 2.5 percentage points above the securing account’s dividend rate for the previous quarter and are subject to change over the term of the loan.

For most secured loans, terms can extend as far as 72 months depending on the type and age of security offered and the loan applicant’s credit history. Certain types of recreational vehicles may qualify for terms of up to 10 years. Most real estate loans, including some mobile homes, may be financed for up to 15 years.**  The maximum term for a share secured or share certificate secured loan is 15 years.

In addition, for qualifying loans, we offer 100% financing.

To apply for a secured loan, please stop in any First Choice location or apply online via our secure server.***  Generally, we will have a decision on your loan request within 24 hours of receiving all pertinent information.

For additional information on the application and review process for secured loans, please visit our Loan Prep School.

*You can obtain a free copy of your credit report at
**Certain restrictions and exceptions apply. Please contact loan services for complete details.

***Nonmembers are welcome to apply for any loan; however, you must meet membership eligibility requirements.