Credit Builder Loans
Need to improve your credit score? Or rebuild and increase your credit score?
Our Credit Builder Loan allows you to invest in a certificate of deposit (CD) with the proceeds of a secured loan that can be repaid over one or two years. At the end of the time period, you will have established a steady record of payment which helps increase your credit score. Plus, you will have the full savings with accrued interest from the CD.
| Loan Term | CD Amount | Rate |
| 12 months | $1000 | 11.49% APR with autopay from a First Fed account 11.99% APR without autopay |
| 24 months | $2500 |
11.49% APR with autopay from a First Fed account 11.99% APR without autopay |
No down-payment required. Maximum 50% debt-to-income ratio. No current tax or public liens allowed.
APR (Annual Percentage Rate) is based on loan amount and interest rate. Rates are current as of 3/22/2023 and are subject to change.
Credit activity is reported monthly to allow for score improvement or development. Learn more about credit scores at MyFico.