Credit Builder Loan

Need Credit? We're here to help. Credit builder loan. Start building credit with $0 money down.

Whether you’re starting out or starting over, we’re here to help.

We get it. Life happens. Sometimes that means your credit score needs some tender love and care. Whether you need to start your credit, improve your credit, or jump start your savings – the Credit Builder Loan from RIFCU is designed for you.

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Loan Features:

  • No minimum credit score required*
  • No down payment required
  • Loan Amounts ranging from $500 - $2,000
  • Flexible repayment terms ranging from 6-24 months
  • No pre-payment penalties, reported to all 3 credit bureaus
  • Fixed Rate of 8.99% APR*

How it works:

  • Loan funds are deposited into your RIFCU savings account and placed on hold (no funds are given to the member, as this is for Credit Building only).
  • You make on-time payments over the term of the loan
  • Once the loan is paid off, the hold is released on the funds in your savings account
  • You gain credit history AND establish a savings account at the same time

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Free Credit Resources

You may also be interested in these free financial education resources to learn more about credit, money management skills and budgeting skills.

*Annual Percentage Rate (APR) is fixed for the duration of the loan. Subject to debt to income requirements. Other restrictions may apply. Membership Eligibility required. Rates are subject to change without notice. Payment example: For a $2,000 loan with a 24-month term, payment would be $91.36.