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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
Lataysha S – "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!"

Credit Builder Loan Rate

Effective October 23, 2023
Max Amount FinancedEst. TermAPR* as low as
$300 - $5,000Up to 48 Months12.75%

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:

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.

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