A secured loan is guaranteed by the funds in your other accounts at the credit union. That means if you have $1,000 in savings, we can offer you a $1,000 personal secured loan. Seems silly, right? If you already have the money you need, why get a loan? The answer is that it’s a great way to build a credit history. Make every single loan payment on time and we’ll report that monthly to the credit bureaus. When the loan is completely paid off, your credit report will include a successful use of credit.