Just to clarify my own thoughts, the right of offset wouldn't necessarily make it a secured loan, would it? We would only consider the loan secured if a portion of the deposit(s) was limited in some way (e.g., a hold on a savings account). Otherwise, while you may have the right of offset, there may be nothing in the deposit accounts to offset.
I hear and I forget. I see and I remember. I do and I understand.--Confucius