A Credit Builder Loan is a simple way to begin building or rebuilding credit history*
There’s no minimum credit score, and no money required up front. Since rates are fixed, your monthly payment won’t change during the life of your loan. You even earn dividends as you pay off the loan. Both current NW Plus CU members and non-members are welcome to apply.
Plus, you have access to Credit Sense, our free credit score monitoring service, and all the other great NW Plus CU member perks like free online and mobile banking, Early Pay with direct deposit, shared branching, surcharge-free ATMs, and more.
How It Works:
Speak with one of our lending professionals to make sure the loan is right for you. Answer a few questions and determine how much you want to borrow.
After your loan is approved we will deposit the funds to a NW Plus CU savings account for you and we will place a hold on the money until the loan is successfully paid off. The funds will earn dividends while you repay the loan.
We will report your loan and loan activity to the credit bureaus. Making regular, on-time payments can positively affect your credit score.
Once you have paid off the loan the hold will be removed and the amount borrowed, plus any dividends earned are yours to use as you wish.
Call or stop by a branch to speak with one of our loan professionals to start building your credit today!
*Subject to approval. The NW Plus CU Credit Builder Loan does not guarantee credit score improvement.