Current Members: Sign in and select “Open Additional Accounts/Loans” from the left menu.
Non Members: If a non-member applies for a loan, a $25 deposit is required to establish membership. If the loan is declined and the applicant does not proceed with membership, the $25 deposit will be retained and applied as an application fee.
Credit Builder Program
The Jersey Shore Credit Builder Loan Program is designed to help individuals with no credit, limited credit, or poor credit establish a payment history, improve their credit, and build savings!
How Credit Builder Loan Works
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!
Credit Builder Program 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
Credit Builder Loan Rate
| Max Amount Financed | Est. Term | APR* as low as |
|---|---|---|
| $300 - $5,000 | Up to 48 Months | 12.75% |
This loan is designed to improve your credit worthiness. *APR = Annual Percentage Rate.
Apply Today!
There are several convenient ways to apply for the Credit Builder Loan:
- Apply for a Loan Securely Online
- Apply for a Loan in Person at any branch location
- Apply for a Loan by phone at 609-646-3339 or 1-888-322-2848 toll-free and select option 2
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.
