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Credit Builder

Building credit, or rebounding from bad credit — we have the Credit Builder Loan for you.

The Credit Builder Loan offers a convenient way to help build or rebuild credit, even without having to use a cosigner! The way it works is simple: you borrow up to $3,000 for one year. The funds are kept in your HomeTown Credit Union savings account until the loan has been paid off. Once you have completed the loan payments, you will have 12 months of positive payment history and you can use the loan funds for whatever you wish!

Our Credit Builder Loan includes:

  • No cosigner required
  • Borrow any amount from $500 to $3,000
  • 12 month repayment term
  • Proceeds are frozen in a savings account and available to be accessed once the loan is paid in full

Payment Example: A 12-month, $1,000 Credit Builder Loan at 10.00% APR could cost you as low as $88.00 per month!*

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*Rates subject to change and are based on creditworthiness. 10.00% APR rate is based on a Beacon score of 650 or higher or no Beacon score. 1 year term only. $3,000 maximum loan amount, minimum loan amount is $500.00. Late payment fees of $25.00 and processing fees may apply and would be above and beyond the initial monthly loan cost. Contact the credit union for full details.

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