Credit Builder Program
The credit builder program is designed for individuals (a no co-signer program) who are looking to establish credit or ways to help re-build credit.
- $250 deposit into a share savings account will be held. In return HRCU will offer a $500 term loan for 12 months at a fixed rate of 8.25%
- HRCU will also offer (at its discretion) an unsecured Visa up to $1,000. Rate will be based on what credit tier the individual falls into at the time of application.
Applicant must be an existing member with HRCU and have already established their employment direct deposit into an HRCU account.
New members would become eligible after their second direct deposit has been received into the account
Applicants would be required to watch a short 3 – 5 min video on the basics of credit (still in production) that will be available via I-Pad while their loan is being processed.
Members are only eligible for 1 credit builder program loan at a time.
In person credit counseling available by request (appointment may be required)