Credit Builder Loan
Need help building or rebuilding your credit? This may be your “Golden Ticket!”
We've designed this just for members that may need a bit of help to boost their credit up. When you take out a credit builder loan, we’ll put the entire amount of the loan in a savings account for you. As payments are made, we release the money (less the interest) for you to use. On-time payments may be able to help build up your score and the release of funds ensures that you have money to continue to work with.
It’s a win/win scenario!
Maximum Amount: $1,000
Up to 24 months
Rate: 4.20% APR*
Login to eBanking and submit your application today!
*All shares securing the loan must be in a Special Savings Account. Rates based on the cost of funds plus 4% (Cost of funds is the dividend rate paid for our Maine Share Savings Accounts.) Rates adjusted semi-annually. Limit of one per member. Maximum amount of $1,000.00. Maximum Term of 24 months.