Whether You’re Starting Out or Starting Over, a Credit Builder Loan is a Great Way to Build Your Credit History.

If your credit history is not where you want it to be, or if you need to save money for a down payment on a house or car or for a much needed vacation, a Credit Builder Loan can help.

Loan Proceeds Placed in a Savings Account. When you are granted a Credit Builder Loan, the proceeds of the loan are placed into a Special Savings account as collateral to secure the loan. You then make payments to the loan, just as you would with any loan.



Withdrawals available at payoff. You may not make withdrawals from the Special Savings account until the Credit Builder Loan is fully paid off, but when it is, you will have the full amount in the Special Savings account to do with as you please - down payment, education, home improvements - anything you desire.

It's Happened to Just About Everyone; an Emergency Comes Up and You Need a Quick Loan.

The Credit Union offers an Emergency Loan program designed with you in mind. The program includes an inexpensive, convenient loan along with a Special Share Savings Account to assist you in saving for the future.

Special Savings Deposit with Each Loan Advance
Each time you advance an Emergency Loan, $40 of your requested advance will be deposited into a Special Savings account. The $40 deposit requirement, which is 10% of the Emergency Loan limit, applies to every Emergency Loan advance, even if it is a partial advance. For example, our Emergency Loan maximum is $400. If you advance $400, you will receive $360 and $40 will be deposited into your Special Savings account. If you currently have an Emergency Loan balance of $300, and advance the remaining $100, we will put $40 into your Special Savings account, making $60 available to you.

Special Savings Account Withdrawals
The Special Savings account is intended to help you begin to save and plan for emergencies. Deposited funds are pledged as collateral on the Emergency Loan; funds may not be withdrawn until the Emergency Loan balance is paid in full. When you make a Special Savings withdrawal, you will not be granted another Emergency Loan advance for a period of 90 days. However, there is no requirement that you withdraw your Special Savings. You may leave it on deposit to grow and eventually replace your need for Emergency Loans. In addition to the Special Savings Account, information and advice on topics such as money management and credit is available through a partnership with BALANCE. This financial counseling service is available to you at no cost.

Emergency Loan Requirements
Members who have direct deposit and a credit score of 500 or above are routinely approved for an Emergency Loan Line-of-Credit of $400. The loan is set to payback within 90 days. There are no fees associated with our Emergency Loan program.

You can click [here] to apply for an Emergency Loan. To request an advance on your existing Emergency Loan you can stop by your local branch or call our Member Service Call Center at 336-662-6200 or 800-522-4212.

Benefits of a Credit Builder Loan:


• Interest rate is a low 9.5%
• Loans from $1,000 to $5,000
• Improve your credit score by keeping your payments current and paying off the loan as scheduled.

Please Contact Us if you have any other questions.