Dear Members,
We have received reports from other financial institutions that there has been an increase in fraudulent activity. Fraudsters are claiming to be from financial institutions with the goal of getting your account and other identification information. If you receive an unsolicited call, email, or text from anyone claiming to be with Downey Federal Credit Union, feel free to call us at (562) 862-8141 to verify before providing any information.

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Certificate-secured Loan

Certificate-secured Loan


  • Use a certificate to secure a low-rate loan
  • Borrow up to the balance in your certificate
  • Fixed rate is 3% above pledged certificate dividend rate
  • Funds on deposits continue to earn dividends
  • Same term as the certificate
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  • 10-day grace period on payments
  • Payments can be made in branch, by phone, by mail, via online banking or direct deposit
  • The terms of repayment, which reflect the repayment obligations over the full term of the loan, including any balloon payment (i.e. 48 monthly payments of $22.85 per $1,000 borrowed. Rate 3% + saving dividend 1.60% = 4.60%)
  • Late payment charge (more than 10 days late): 20% of the interest due that month
  • No application fee
  • No pre-payment penalty