Rebuilding your credit is one of the first steps to improving your  financial outlook.  Community Credit Union’s Credit Builder Account can help you rebuild credit, while establishing a savings habit. 

 

Here’s how it works:

  • Obtain a loan from CCU for $1,000 with a repayment term of 12 months.
  • Deposit the loan proceeds into a 12 month Share Certificate earning interest on the loan proceeds
  • Make on-time payments on the loan, building and establishing a good credit history
  • At the end of both the loan term and Certificate term, your loan will be paid off and the balance of the certificate, along with any interest earned, are yours to do whatever you please!  The certificate can be renewed or  you may use the money to pay off debt, take a vacation, or anything you like!

There are no prepayment penalties on the loan, so you can even pay off your loan early. Any early withdrawals from the certificate are subject to penalties