Your savings insured to at least $100,000 by the
National Credit Union Administration, a U.S. Government Agency.
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Section contents:
 Northrop Grumman FCU members can quickly and easily borrow against their assets at low interest rates. Two flexible loan options are available:
Savings secured – use savings
accounts or certificates to secure loans (excludes IRAs, Money Market and
Income Growth Accounts). For savings-secured loans, the loan amount plus interest can total up to 100% of your account balance. What's more, loans against certificates can save members even more by avoiding a penalty for early withdrawal of funds.
Stock secured – use stock certificates to secure loans. Stock-secured loans make it easy for members to take out non-purpose loans for up to 4 years on 80% of the current market value of the stock, and 60% for purpose loans. |
 Summary |
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We do business in accordance with the
Federal Fair Housing Law and the Equal Credit Opportunity Act. |
Northrop Grumman FCU savings- and stocks-secured loans offer a variety of benefits to members:
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Convenience of using savings or stock as collateral
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Fast approval
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Low interest rates and ability to avoid penalties for early withdrawal of certificate funds
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Borrow up to 100% of savings account balance
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Borrow up to 80% of current stock value for non-purpose loans, and 60% for purpose loan
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For savings-secured loans, terms of up to 60 months or the remaining term of the account, whichever is less
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For stock-secured loans, terms of up to 48 months
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Generally lower loan rate than other types of secured loans
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Minimum Requirements |
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The following requirements apply to savings and stock-secured loans:
- Minimum loan amount of $250
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| Frequently Asked Questions |
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Q: In this economy, shouldn't I worry about being in debt?
A: Debts can be intimidating, but you could actually be saving money when you consider the penalty for early withdrawal from your certificate. |