Certificate Loan

Can I use a Certificate Loan for anything I want?

Yes, you can use your Elements Certificate Loan on anything you want—it’s up to you!

How do I access the funds?

Easily manage your loan activity with Online Banking and the Elements Mobile App. You can access funds in as little as one business day after your loan is finalized. The funds will be available in the Elements account of your choice or sent via check if you prefer.

How does a Certificate Loan compare to other choices for major purchases?

There are benefits and trade-offs to all loans, especially when it comes to paying for major expenses. Compare different types of loan products in the chart below to determine which is best for your needs. As always, your support team at Elements is ready to help you find the product that is best for you — just give us a call at 1-317-542-5055.

	Certificate Loan	Home Equity Line of Credit	Platinum Visa Credit Card
What It Is	Borrow funds using your Elements Certificate as collateral Loan for a set amount	Borrow funds using the equity in your home Revolving credit line for the 10-year draw—use, repay, repeat	Borrow money without using collateral
Key Benefits	Lower interest rate than many conventional loans	Lowest interest rate	Lowest Credit Card interest rate
APR	2% above your certificate's earning rate	Intro APR for 6 months: 3.99%² Variable APR after 6-month intro period: As low as 7.50%	Intro APR for 18 months: 0%³ Variable APR after 18-month intro period: 13.24%
A Good Option for a Major or Unexpected Purchase If You	Own an Elements Certificate Want to establish credit Want predictable monthly payments that stay the same	Own your home Want the flexibility of using funds whenever you need them Want a lower payment	Don't own your home Have the means to pay off your balance right away
Can Use It For	Anything!	Anything! Purchases such as: - Unexpected emergencies - Home improvements - College - That big vacation - A new car - A second home - Debt Consolidation	Anything! Best for smaller, everyday purchases
No Prepayment Penalties
No Annual Fee
Available Amounts	Up to the full amount of your certificate	Whatever your available equity is in your home	Borrow up to $25,000 based on credit rating

What are the fees?

There are no fees or early withdrawal penalties associated with a Certificate Loan.

Why should I go to Elements for my loan?

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves in being a trusted source for financial education. Your financial wellness expert will come to your workplace to answer questions and provide you with one-on-one assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 5% of credit unions nationally⁴. We serve members in all 50 states and 50+ countries. You’ll have access to 5,000+ shared branches nationwide and 90,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick digital applications to online and mobile banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

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How do I apply?

3 Easy Steps to Apply

Apply online - You can apply online in as little as 10 minutes! Submit your application anytime or call 1-800-621-2105 to get started. Have ready your government-issued ID (driver’s license, state ID, or passport) and your social security number.
Take our call - We'll contact you within one business day after you submit your application to go over what documentation we'll need and to answer your questions.
That’s it! - We'll contact you with a decision within 10 business days. Once your loan is approved and finalized, you can get cash in your account in as little as one business day.

Apply Now

1 Rates effective as of July 1, 2025, and subject to change without notice. Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for our displayed lowest rates. Subject to credit approval.
2 Rates are based on an evaluation of credit history, combined loan-to-value ratio, loan term, and occupancy, so your rate may differ. Not all applicants will qualify for the displayed lowest rates. The term is 25 years, consisting of a 10-year draw period with interest-only payments followed by a 15-year repayment period with principal plus interest, which may increase your monthly payments. The Introductory Annual Percentage Rate (APR) of 3.99% is for new Home Equity Lines of Credit only and is for the first six months. HELOC modifications, renewals and increases that utilize the same property are not considered new and are not eligible for the introductory rate. To receive the Introductory rate, a draw of at least $10,000 must be made within 30 days of account opening. After the introductory rate expires, balances will be charged at the variable APR based upon the Prime rate as published in The Wall Street Journal plus a margin. The APR will never be lower than 3.75% or higher than 18%. The stated rate, correct as of July 1, 2025, applies to borrowers with credit scores of 730 or greater, CLTV 80% or less, and owner-occupied single-family residences. Elements Financial will conditionally waive the following Closing Costs associated with your home equity line of credit: flood certification, title search or title abstract, credit report, recording fees, and a simple valuation. You may be required to pay other costs such as taxes, and when required, appraisal fees. However, if you close your home equity line of credit within 36 months after it is opened, you will be required to pay an Early Closure Fee in the amount of the Closing Costs originally waived. These costs vary by state and property type. Elements Financial reserves the right to modify or end this offer at any time. Additional terms and conditions may apply. Subject to credit approval. Elements Financial Membership Required.
3 Platinum Visa Introductory APR (Annual Percentage Rate) good for 18 months. Elements Financial loans are not eligible for payoff with introductory balance transfer offers. Subject to credit approval. Additional limitations, terms, and conditions apply. After introductory period your Standard variable APR for Purchases and Balance Transfers will be 13.24% for Platinum Visa. Rate effective July 1, 2025, and will vary with the market based on the Prime Rate as published in The Wall Street Journal. Elements reserves the right to amend or discontinue offers at any time. Terms & Conditions.
4 Based on asset size as of 9/3/2024.

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Certificate Loan