Credit Builder Loan
Our Credit Builder loan is designed for individuals with limited to no credit history. Monthly on-time payments may assist is establishing positive credit history to build a strong financial future.
How Do Credit Builder Loans Work?
Our Credit Builder loan is a short term loan and features a low fixed interest rate with monthly payments automatically deducted from your PNCU account, making repayment affordable and convenient as a tool to assist in establishing or strengthening your credit profile. Members who apply for this loan must have a reliable source of income to support repayment. A qualified co-signer may be an option. Other underwriting guidelines or restrictions may apply. Ask us for details.
Benefits of a Credit Builder Loan
- May assist in establishing or improving credit for members with limited or no credit history
- Monthly on-time payments will report positive payment history to the credit bureaus to establish credit history
- Short-term commitment with a maximum 12-month loan term and maximum $500 loan amount
- Fixed interest rate for predictable, affordable monthly payments
- Convenient automatic payments from any PNCU account
- Encourages healthy financial habits through consistent, on-time payments
Relationships Built to Last
For more information about accounts and services, visit a credit union branch in Western MA near you, use our Contact Form, or call us at (413) 592-9495.
Membership is required.