What's a "Share"?
At a credit union, your shares are your deposits, and your ownership stake in the credit union. With a share-secured loan, you use those shares as collateral.
How it Works
- Choose your amount and term. We’ll help you pick a monthly payment that fits your budget.
- Pledge your savings. The amount you borrow is secured by your STTFCU savings (those funds are temporarily frozen).
- Get your funds. Use them how you need; no reason to drain your savings.
- Repay and unlock. As you pay down the loan, the held savings are released. In many cases, your savings continue to earn dividends while pledged.*
* Dividends and hold/release details follow account and loan terms. We’ll explain them before you sign.
Why Members Choose Share-Secured Loans
- Lower rate vs. unsecured (because your loan is collateralized)
- Build or rebuild credit with on-time, monthly payments
- Keep your savings intact (and typically earn dividends)
- Fast, straightforward approval with no car title or other collateral to gather
Good share-secured loan uses:
Establishing or building credit, consolidating a small balance or covering an expense without touching your emergency fund.
Become a member, then apply online!
Joining STTFCU is the best step you can take toward flexible, affordable borrowing on St. Thomas.
Online
Stay connected to your accounts at anytime
In Person
Allen A. Canton Building
5027 Norre Gade
St. Thomas, VI 00802-6749
By Phone
Call 1-340-774-1299