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The APY (Annual Percentage Yield) of the share certificate is determined at the time the Credit Builder Loan is opened. The share certificate is used as collateral to help build your credit. Loan amounts from 300-1,000 Loan term of 12 months 12 APR Payment history reported to credit bureaus 50 of interest refunded with on-time payments. All loan approvals are subject to underwriting qualifications. Members First Credit Union Are you trying to establish or rebuild your credit Members First has a loan just for you By using the available funds in your. Set up convenient, automatic payments to help you build credit. Automatic funds transfer from an MVCU account is required. Monthly payment per $1,000 borrowed up to 24 months is $43.42. Sometimes, we make bad choices that result in our credit score being affected. *3.99% APR ( Annual Percentage Rate) is fixed for the term of the loan.
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Your credit information can be a factor in whether or not you can rent a nice apartment, how much you pay for insurance or whether or not you can get a job.īad credit can suggest you're a risky bet, and will make it difficult for you to get a credit card with a low interest rate and costs you more to borrow money for any purpose. If you want to get a loan to buy a car, house or even to get a student loan to pay for college, you must have good credit. If youve had some challenges with your credit in the past, we want to help you get back on track.