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Credit Builder Loan

Establish or improve your credit.

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If you’re trying to establish or rebuild your credit, our Credit Builder Loan is just for you. Featuring low rates, this special program allows you to access funds set aside in your savings or certificate account once the loan is paid in full.


Why a Credit Builder Loan at Members First?

  • Low interest rates
  • Borrow as little as $500
  • Savings secured terms up to 120 months with minimum monthly payments
  • Certificate secured terms range from just 3 months to 60 months
  • Savings and certificate account funds earn dividends at the respective published rates

How does it work?

  • We agree to lend a specific amount of money that is deposited into an account the credit union controls
  • You make regular payments* on the loan and we report those payments to the three major credit bureaus
  • As long as you make payments on time, you establish a positive payment history
  • Once the loan is paid in full, you may access the full balance in your account, including any dividends earned
  • Funds from your Credit Builder loan can be used for any purpose

*Regular payments are those received on or before the due date for a minimum of the scheduled payment amount.

The granting of a Credit Builder Loan does not guarantee future loans. All loans are subject to credit approval.