Build Your Credit with a Credit Builder Loan

Build credit and savings at the same time.

Keep the principal paid at the end of the loan. Keep in mind that you do not get money upfront with this loan.

No credit check required.

It doesn’t matter if you have no credit or bad credit.

No collateral needed.

You don’t need to have any money up front to secure your loan. All that is required is your monthly on time payment.

A Credit Builder Loan is a financial product designed to help individuals establish or improve their credit history. It is particularly beneficial for those who have limited or poor credit or no credit history at all. The primary goal of a Credit Builder Loan is to provide a structured way for individuals to demonstrate their creditworthiness and build a positive credit profile.

How a credit builder loan works

Select your amount (view options below)

Choose the loan option with the monthly payment that best fits your budget.

Make on-time payments

Your payments get reported to the credit bureaus, which may help improve your credit.*

Unlock your savings

Once your loan is paid off, access the principal paid on the loan. This loan also acts as a forced savings.

Get Started

Credit Builder Loans with Zing

Top 3 Reasons You Should Apply for a Credit Builder Loan

Establish Credit History

For individuals with no or limited credit history, a Credit Builder Loan provides a structured way to start building a positive credit profile. Establishing a credit history is crucial for various financial activities, such as applying for credit cards, renting an apartment, or securing better terms on future loans.

Improving Credit Score*

Individuals with a less-than-ideal credit score can use a Credit Builder Loan to demonstrate responsible financial behavior. Making timely payments on the loan can contribute positively to their credit score over time, helping to improve overall creditworthiness.

Access to Better Financing Options

A stronger credit profile opens doors to more favorable financing options in the future. Whether it’s applying for a mortgage, auto loan, or credit card, individuals with a positive credit history are likely to qualify for lower interest rates and better terms, potentially saving them money over time.

Credit Builder Loans

Option #1

Option #2

Monthly Payment

Under $25/month

Under $50/month

Term

24 Months

Interest Rate

24 month CD rate + 10%

Application fee

$25

End of Loan Savings

Approximately $500**

Approximately $1,000**

See current rates and fees.

Want to dive deeper into building or rebuilding credit, but don't know where to start? Check out our upcoming webinars, recordings, and finance calculators for continuing support. Need any extra push in the right direction? Sit down with a financial coach to discuss your finance goals.

Learn More

Build Your Credit with a Credit Builder Loan Disclosures

*Use of this loan does not guarantee a positive impact on your credit.

**The end of loan savings amount is dependent upon your interest rate and loan payment.

Truth In Savings Disclosure

TRUTH IN SAVINGS DISCLOSURE

Except as specifically described, the following disclosures apply to all the accounts.

Rate Information. The dividend rate, or interest rate, and annual percentage yield on your accounts are set forth on the reverse side. The annual percentage yield is a percentage rate that reflects the total amount of dividends/interest to be paid on an account based on the dividend/interest rate and frequency of compounding for an annual period. For Certificates of Deposit and IRA Certificates of Deposit, the interest rate and annual percentage yield are fixed and will be in effect for the term of the account. The annual percentage yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Nature of Dividends. Dividends are paid from current income and available earnings after providing for the required reserves. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
Compounding and Crediting. Interest and dividends will be compounded and credited as set forth on the reverse side. The dividend/interest period for each account is also set forth on our Rate and Fee Schedule. The dividend/interest period begins on the first calendar day of the period and ends on the last calendar day of the period.
Balance Information. The minimum balance required to open each account is set forth. Interest is calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on noncash deposits (checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
Account Limitations. The account limitations for each account are set forth in our Membership and Account Agreement
Your account will mature on the maturity date set forth on your account receipt or renewal notice.
Early Withdrawal Penalties. A penalty may be imposed if you withdraw any of the certificate funds before the maturity date or the renewal date, if this is a renewal account.
Amount of Penalty. For Certificates of Deposit and IRA Certificates of Deposit the amount of the early withdrawal penalty for your account is 90 days’ interest for a term of 12 months or less, and 180 days’ interest for a term over 12 months.
How the Penalty Works. The penalty is calculated as a forfeiture of part or all of the interest that have been earned on the account. This penalty applies to earned interest and principal.
Renewal Policy. Certificate of Deposit accounts will automatically renew for another term upon maturity. You have a grace period of seven days in which to change or withdraw the funds without being charged an early withdrawal penalty.
Exception to Early Withdrawal Penalties. At our option, we may redeem the account before maturity without imposing an early withdrawal penalty under the following circumstances:
- When an account owner dies
- or is determined legally incompetent by a court
- or other body of competent jurisdiction.
Nontransferable / Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner except obligations with the Credit Union.
FEES FOR OVERDRAWN ACCOUNTS. Fees may be imposed on each check, draft item, ATM card withdrawal, debit card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or payment of a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approval limit. Please refer to the Rate and Fee Schedule for current fee information.

Checking Comparison Chart

Compare Checking Accounts

Preferred Checking

Clear Card

Second Chance Checking

Minimum Opening Balance

Suggested opening amount- $25

ID Safe Choice Charge Possible

Yes

Direct Deposit

Accepted and encouraged

Dividends Paid

Privilege Pay

Available after 90 days

Overdraft LOC

Available immediately, with approved credit

ATM/Debit Card

Instant Issue

Shared Branching

Available

Free Bill Payer

Available

Mile High APY

Yes

N/A

Yes

5 Buck Club

Yes