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Credit builder loan

Bad Credit? No Credit? We can help.

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Helping you build your credit, whether it’s your first time or your second chance.

Having limited credit, bad credit, or no credit at all, can impact your ability to secure the financing you need to buy a car, purchase a home and make other big financial decisions. Fortunately, our Credit Builder Loan can help you establish or build your credit. Unlike a traditional loan, the funds are not immediately released to you. Instead, funds are placed in an account for safekeeping. As you make on-time payments, we’ll report your success to the credit bureaus. Once the loan is paid off, the loan’s value is released to you – with interest and a better credit score!

Here's how the Circle FCU Credit Builder Loan works.

  • Loan amount of $2,400
  • Loan term of 24 months
  • 12.50% APR
  • Payment history reported to credit bureaus
  • When the loan is paid off, the money will be released to you

Other Options

Not interested in the Credit Builder Loan - no worries. We also offer another way to make on-time payments while reporting to the credit bureaus with our Visa Secured Credit Card.

Improving and Building Your Credit Score

Stay tuned for the release of our Money Mentor program -a financial literacy program designed to provide real-time personal financial management and coaching to help you make sound financial choices. This program offers in-person coaching sessions designed to give you the tools necessary to take control of your finances. 


Why is it important to have good credit?

You need a good credit score for many things in life – to qualify for a credit card, car loan, or home loan – and your credit score could even be considered by potential employers and landlords. Plus, the higher your score, the lower your rate, and terms.

How long will it take to improve or establish my credit score?

Good credit takes at least 12 months to build and/or improve.

Can I close/pay off my loan early?

Yes, but we don’t recommend it. Please be aware that a solid, on-time payment history is the most important factor in determining your credit score and by paying off your loan early, you may not be able to establish a steady payment history with the credit bureaus. It won’t lower your score, but it also won’t raise it.