09/02/2026
WORD WEDNESDAY
Today's term: Secured Credit
Credit that is backed by something of value, called collateral, such as a vehicle, home, or savings account. Because the lender has collateral to help protect against loss, secured credit may offer lower interest rates or more favorable terms than unsecured credit. If the borrower doesn’t repay the loan as agreed, the lender may be able to take the collateral to recover the amount owed.
At Northwest Christian Credit Union, we’re committed to supporting financial wellness through education and encouragement.
Explore free financial wellness resources here:
https://mynccu.banzai.org/wellness