Credit Builder Loans
Our Credit Builder Loan is designed to help you establish or improve your credit score while building savings for the future. Borrow between $1,000 and $2,500, secured by a Certificate of Deposit (CD). As you make on-time monthly payments, we report to the credit bureaus, which can help you strengthen your credit history. At the end of the loan term, you’ll receive the funds from your CD plus interest. Remember, monthly payments must be made on time in order to build or improve your credit!
- No prior credit needed. No upfront cash required.
- Loan proceeds are used to purchase a Certificate of Deposit (CD), which secures the loan.
- Funds are not disbursed to the borrower at loan inception.
- Choose terms from 1 to 5 years
- The loan is based on your ability to repay, not your credit score
- Interest rate 3% above CD rate
- Monthly credit bureau reporting
