Credit Builder Loan

¹Credit Builder Loan funds are held in a Savings Ltd Account until paid in full. If no credit history is available, other loan criteria may be required such as proof of income and ability to make payments to help with loan decision. Improved credit score is not guaranteed. Your credit score is dependent on your specific situation and financial behavior. Failure to make monthly minimum payments by the payment due date each month may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. This product will not remove negative credit history from your credit report.

²APY= Annual Percentage Yield. Dividend rate and APY may change at any time. Dividends are compounded and credited to the account every quarter. See rate sheet for specific rate details.

³APR= Annual Percentage Rate. Certain restrictions apply. All loans subject to approval. Must be or become a Collins Community CU member to obtain a loan. Credit Builder Loan amount is $1000 and terms are up to 37 months. Regardless of loan term or credit history, a fixed rate of 8.50% APR will be applied. Rates, terms, and conditions subject to change at any time. Payment example: For a $1,000 loan for a term of 12 months with a 8.50% APR, the monthly payment will be $87.52.