Credit Builder Loan

Our Credit Builder Loan was designed specifically for members looking to build, or re-establish, positive credit history.  This loan is ideal for those who have little to no credit history and are looking to build a positive credit score, as well as those who need help in improving their credit history and score.

Borrowed funds are secured as collateral in a FiCare share account.  As you pay off the loan, your monthly payments will be reported to all three credit bureaus.  Once the loan is paid off, the loan proceeds will be released from hold and available to you; providing you with automatic savings.


How It Works:

  1. Apply online, over the phone or in the branch. (When applying online, select "Secured Loan")
  2. Credit will be pulled and loan is subject to proof of income
  3. Complete the provided financial counseling to help improve negative trade lines
  4. Funds are deposited and held in a savings account until the loan is paid in full
  5. Make monthly payments on time to build your credit history
  6. Once you have paid off the loan, the funds are yours to spend as needed (or continue to save!)


Loan Details

  • Fixed rate of 13.00% APR*
  • $500 loan with maximum 6-month term
  • $1,000 loan with maximum 12-month term
  • $2,000 loan with maximum 24-month term


Apply Online


*APR = Annual Percentage Rate.  Subject to loan approval. Repayment example: $500 loan for six months at 13.00% APR will have monthly payments of $86.52.


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