Bayport offers loan options for members trying to establish or rebuild credit. You may choose from a Share/Certificate Secured Loan or a Secured Credit Card.
A Share/Certificate Secured Loan uses the available funds in your Savings Account or the balance of your Certificate as collateral for a loan.
- Borrow 100% of account balance
- No prepayment penalties
- 5% late fee on past due amount after ten days of payment due date
- View Rates
A Secured Credit Card secures the credit card limit in the member's primary savings account. The credit card can then be used just like any other credit card to repeatedly buy products and services on credit up to the secured amount.
- Must be 18 and have the required security deposit in your primary savings account
- Credit limits of $300 - $3,000 available
- No annual fee
- $20 late fee
- $20 closing fee if closed within 60 days of opening
To apply for a Share/Certificate Secured loan or a Secured Credit Card, visit one of our convenient branch locations or call us at 757.928.8850