Sometimes all it takes is one unexpected expense to throw off your entire budget, leading to delinquent payments or inability to pay an account balance. Improve your Credit Score with a Credit Builder Loan. These products are designed with you in mind and to help you build or rebuild your credit history.
Late pays and unpaid balances can:
Affect your credit
Lower your credit score
Limit your ability to borrow at fair and affordable rates in the future
When you're ready to get back on track and start rebuilding your credit, Express CU has products designed just for this scenario
Help you rebuild your credit score
Restore your borrowing capacity
Jumpstart your savings
Establish and build your credit with loan terms of six months to one year
Funds from the loan are deposited and frozen in your account and name at Express CU
And that money will earn dividends!!
The deposit funds are used as security for the loan *
Make monthly, on time payments
Once you have paid off the loan the funds are released to you!
Interest rates are low
A cost effective method to establish or rebuild credit history
Maximum loan is $3,000
Rate varies based on credit score, ranging from 4.15% to 12.15% APR ⱡ.
*You will have access to your deposit funds when the loan is paid in full.
your credit score is below 550
you currently have past due loan payments
have charged off accounts
...Express CU may be able help!
If qualified for these products and your score is lower than 550 you may be referred to an on staff Express CU financial coach to
assess your personal financial situation
review your credit report
talk about budgeting tools
learn more about how these products may help you build a better financial future
Obtaining a secured card requires a deposit of 120% of the card limit into a savings account
For example, Express CU requires $600 on deposit for a $500 credit limit
Deposit funds in your name are held as security for the loan for at least 6 months, subject to conditions
Make on time payments and you may qualify to have your deposit funds released
Rate varies based on credit score ranging from 8.50% to 16.50% APR ⱡ.
Secured VISA card limits range from $200 minimum up to $1,000.
Some restrictions may apply, ⱡ see Truth in Lending Disclosure