Credit Builder Loan

Jersey Shore Federal Credit Union’s Credit Builder Loan enables members with damaged credit histories to improve their credit worthiness.


Credit Builder Loan Requirements:

  • Applicants must be a member in good standing with Jersey Shore Federal Credit Union
  • $25 Application Fee
  • Applicants must have the capacity to repay the loan
  • Direct Deposit and Payroll Deduction may be required
  • Must make regular monthly payments

Credit Builder Loan Features:

  • Loan amounts of $300-$5,000
  • Terms up to 48 months
  • Affordable fixed loan rate for the term of the loan
  • A report of your favorable payment history will be sent to the credit bureau

How Credit Builder Loan Works

The credit builder loan is different from our standard loans. You choose your loan amount and term within our parameters. The proceeds of your loan will be held in your credit builder savings account to secure the loan. As you pay down the principal, funds are released from your credit builder savings account and are yours to withdraw if you choose. This helps you to improve your credit worthiness by showing timely payments on your loan. If you leave the funds in your credit builder savings account, you will build up a nest egg to cover those unforeseen expenses that come up from time to time.


Apply Today!

There are several convenient ways to apply for a credit builder loan:
  • In person at any office
  • Online loan application
    call (609) 646-3339 or toll-free at 1-888-322-2848 and select option 2 to speak with a loan processor or select option 1 to apply anytime with patt (24-hour automated phone service).

Read what member Lataysha Sherrette has to say about our Credit Builder Loan:

I am a single mother of four and my biggest goal was to own the home that we have rented.  I was told to open up a Credit Builder Loan 3 years ago to help improve my credit score.  I had the loan for 12 months and noticed a big difference in my credit score.  I opened a second Credit Builder Loan to improve my score even more.  I like that once you make a payment, that money is available for you to use, if needed.  I am proud to say that I am now a homeowner!  Thank you to the credit union team in helping me on the road to success!