Credit Builder Loans with NW Plus CU
06/25/2025
By: Kirsten Andresen
NW Plus Credit Union Launches Credit Builder Loan
New consumer loan helps individuals build or rebuild credit while saving for financial goals
Everett, WA (June 24, 2025) – NW Plus Credit Union is pleased to announce it has launched a Credit Builder Loan, a new consumer loan designed to help members build or re-build their credit history. Additionally, a credit builder loan can help individuals save each month to reach their financial goals.
Both current NW Plus CU members and non-members are welcome to apply. There’s no minimum credit score and no money required up front. Since rates are fixed, the monthly payment does not change during the life of the loan and the borrowers even earn dividends as they pay off the loan.
“Launching the Credit Builder loan is more than just introducing a new product — it’s a reflection of our commitment to creating opportunities for all," said Torrie Ramos, CEO of NW Plus CU. “We understand how important a strong credit score is and how hard it can be to get started. This product is opening doors for our members and giving them the tools to move forward financially."
Interested members will speak with one of NW Plus CU’s lending professionals to make sure the loan is right for them and to determine how much they want to borrow. After the loan is approved, NW Plus CU deposits the funds into a savings account and places a hold on them until the loan is successfully paid off. The funds will earn dividends while the loan is repaid.
NW Plus CU will report each loan and loan activity to the credit bureaus and offers members free credit score monitoring through Credit Sense. When borrowers make regular, on-time payments it can positively affect their credit score. Once the loan is paid off, the hold will be removed and the amount borrowed, plus any dividends earned, are the member’s to keep.
Looking for more information about NW Plus CU’s Credit Builder Loan and how to apply?