[jbowers]

Hi- I bank with the Washington State Employees Credit Union. I have 20,000 in a CD. My credit is not that credit, everything is paid off though. I went to the credit union to just asked some questions. They said that the CD can be used as collat. For an auto loan. (A secured CD loan) I can also borrow the full amount. She said it doesn't take very long and you get the check the same day to deposit in your checking acct.

How does one get approved for this? Is there a credit check or what kind of information is needed? Basically, I would be using my own money as security in case I don't make a payment. Which, I have never been late or failed to make a car payment in the past.

Thanks for your help! :)Lisa

[ScottGem]

Since its secured debt, there is no need for a credit check. If you default, they just take what's in the account.