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Due to COVID-19, there will be NO lobby access to our main office & satellite branches until further notice. Please use Shared Branching at Piedmont Advantage Credit Union with Drive-Thru, located on Boyer Street in Charlotte. Thank you for your understanding. Learn More
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Secured Personal Loans

If you prefer to utilize your own funds as security for a loan, BFCU has several low rate secured loans available. No credit review is required. Secured loans are an excellent way to establish first time credit or begin rebuilding credit.


Use funds from your BFCU savings accounts or certificates† or special collateral to secure a loan.

Share Secured Loan

Utilize the funds you have in your BFCU Savings accounts† as security for a loan and pay a lower interest rate than you would with a standard personal loan.

  • Rates are based upon the current share rate, plus 3.00%.
  • Loan term may be extended to a maximum of 72 months.

Certificate Secured Loan

Loans secured by BFCU Certificates† carry a lower interest rate than do standard personal loans.

  • Rates are based upon the current certificate rate, plus 3.00%.
  • Maximum loan term is 60 months.

Secured Loans
Secured Loans APR* Max Term
Share Secured Share Rate + 3.00% 72 months
Certificate Secured Certificate Rate + 3.00% 60 months
Effective Jan 24, 2019
*APR = Annual Percentage Rate.

Special Secured Loan

Blue Flame Credit Union offers a special secured loan, with terms up to 120 months, for loans with special types of collateral.

Special Secured Loans
Special Secured Loans APR* MAX TERM
Up to 72 months 3.99% - 12.49% 72 months
73-84 months** 4.99% - 10.49% 84 months
85-120 months*** 5.99% - 9.49% 120 months
Effective Jan 24, 2019
*APR = Annual Percentage Rate. Rates listed are as low as and based on repayment method.
**Amount financed must exceed $25,000.
***Amount financed must exceed $35,000.

Secured Mastercard Credit Card

If you have not established credit or need to rebuild your credit, a Secured Mastercard Credit Card is a good way to begin establishing good credit. Use funds from from your BFCU Savings account† as security for your credit card. After a period of having a secured credit card account in good standing, you may request to transition into an unsecured card with an increased credit limit.

MasterCard
Mastercard Detail
APR* on Purchases 9.90%
APR* on Cash Advance 9.90%
Annual Fee None
Late Payment Fee $15
Credit Card Replacement Fee $10
Credit Card Rush Delivery Cost to CU
Over the Credit Limit Fee $10
Delinquent Account APR* 15.99%
Grace Period 25 Days
Effective Mar 16, 2020
Finance Charges will apply to unpaid balances and are computed based on Average Daily Balance.
*APR = Annual Percentage Rate.

Looking for other options?

If you don't have funds available or prefer not to tie up your funds as security, Signature Loans & Lines of Credit are also available.

†IRA Shares/Certificates and Money Market Shares may not be used as security for a loan.
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  • Main Branch
    4301 Yancey Road
    Charlotte, NC 28217
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    Charlotte, NC 28220
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