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Credit Builder Loans 

Whether starting out or starting over, these loans are a great way to build your credit history. 

How It Works: 

The Credit Builder Loan is specifically designed to help you build or rebuild your credit history as you build up to $2,000 in savings plus dividends. Here's how it works...

  • The amount you borrow is deposited into a NECU savings account that you cannot touch until the loan is repaid.
  • You make regular payments on the loan.
  • As you repay on time, you establish a positive payment history that we report to the credit bureaus.*
  • Positive reports can help improve your credit history and credit score over time.
  • A higher credit score translates into better rates on future loans. It can also have a positive impact obtaining insurance and certain jobs that consider credit history.

When you finish repaying the loan, you'll have the full balance in a NECU Savings Account, including dividends, to use as you please – for a down payment, education, home improvements, anything.

Credit Builder Features

  • Loan amounts from $500 to $2,000
  • Terms from 12 to 24 Months
  • Loan funds in the NECU Savings account earn dividends at the published dividend rate for this account
  • Loan interest rate is fixed at 6.99% Annual Percentage Rate (APR)

Apply Today

Credit Builder Loan FAQ's




Contact Us for more information 

Stop by your local branch, or call a Member Services Representative toll free at 888-436-1847.

Important Information