How it Works
- Credit Score Builder Loan: Our Credit Score Builder Loan allows you to borrow funds secured by a Share Certificate, which acts as collateral. Your regular payments are reported to credit bureaus, helping you build your credit score while you save.
- Access to Funds: Once you have fully repaid the loan, the funds in your Share Certificate are released, giving you a valuable emergency savings account.
Terms and Details:
- Loan Amounts: Ranges from a minimum of $100 to a maximum of $2,500.
- Loan Duration: The loan term is determined by your chosen loan amount, with a maximum duration of 2 years.
- Interest Rate: The interest rate is set at 2% above the earning rate of the Share Certificate. For example, if a 12-month Share Certificate earns 0.05% APY, the loan’s interest rate would be 2.05%.
- Benefits: By making consistent, on-time payments for at least 6 months to 1 year, you can build your credit history. This loan structure not only allows you to earn interest on the Share Certificate but also helps you improve your credit score through responsible financial behavior. Our mission is to empower individuals by providing opportunities that foster financial stability and growth.
Financial Wellness Tools
Outside of the Credit Score Builder Loan, we offer free financial wellness resources like virtual educational workshops and personalized counseling. These tools focus on improving credit, managing debt, and making informed financial decisions, helping you take control of your financial future.