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Credit Builder Loans

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Whether you're just starting out and want to build your credit or you need to improve your score after bankruptcy or other life events, the PFCU Credit Builder Loan allows you to build or rebuild your credit rating to a favorable score. It's easy and flexible, and almost everyone qualifies!

How it works

  • PFCU loans you the funds and uses those funds as the collateral for the loan while you repay it.
  • Loan funds are deposited into a PFCU Savings Account where you'll earn dividends at the current dividend rate for this account.
  • Your payment history is reported to the credit bureaus to help you rebuild a favorable credit score.
  • Once the loan is successfully paid, the money becomes available in your account.
  • No money or credit history is required.
  • We give you flexible payment amounts and terms.
  • You save effortlessly!

For example: If you borrow $1,000 over 12 months and make on-time payments of approximately $88 per month, you will have established a new positive trade line with the credit bureau. Once the loan has been paid off, PFCU will release the hold on the $1,000, and those funds will become available for you to use. You will have 'saved' $1,000 while you established or re-established good credit!

*Subject to credit approval. Some restrictions may apply.