Credit Builder Loan
At Meijer Credit Union, we want to help everyone be financially successful and having a good credit score is a great way to start on the right path. Our Credit Builder Loan will improve your credit score and get you better interest rates on loans for your next car, home, and credit card.
How does the Credit Builder Loan work? The money you borrow from Mejier Credit Union is put into a “frozen” savings account on your behalf. The loan is then repaid on a regular basis at a favorable interest rate. When your loan is completely paid off, the money you initially borrowed is released to you. In the end you will have saved up money, and, by making regular loan payments on time, you will have established credit and improved your credit score.
About the Credit Builder Loan:
- Minimum Loan Amount: $1,000
- Loan Term: 12 months
- Interest Rate 18.99% APR*
- Weekly or monthly payment plans available
Questions? Contact our loan department at (616) 784-4822, option 4. We also offer members a FREE credit review.
*Rates effective 12/01/2018. Rates subject to change. *APR = Annual Percentage Rate.Go to main navigation