Rather than dispersing the loan funds to you directly as cash, the funds are held for you in a Credit Builder Loan savings account. As you make monthly loan payments, the principal of your loan reduces and that amount becomes available to you for withdrawal from your Credit Builder Loan savings account. Choose to put your money back in your pocket or leave it be for long term savings!
Unlike other credit-building products, such as secured-loans, the Credit Builder Loan does not require any upfront savings as collateral for the loan. You choose the amount and term for your loan to create a comfortable monthly payment — and remember, this can also be your monthly savings goal!
This loan is designed to improve your credit worthiness. *APR = Annual Percentage Rate.
There are several convenient ways to apply for the Credit Builder Loan:
Member Service Representatives are available to take your loan application by phone during business, evening and weekend hours. Check our Call Center Hours for availability.