Credit Builder LP
Building your credit means building your future.
Consider a Credit Builder Loan if you have no credit, or less-than-perfect credit.
Whether you’re just starting your financial journey or want to boost your current credit score, we can help with a Credit Builder Loan:
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Loans from $500-$1,500:
Your loan will be gradually paid off (amortized) over a period of 12 or 18 months, with a fixed interest rate; amortization is flexible to meet your needs.
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Loan funds will be placed in a Savings Account:
The account will have a hold date matching the maturity (pay off) date of the loan; so when you’ve fully paid off the loan, the funds will be released to you.
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On-time payments:
Make your loan payments on time, and it could help raise your credit score; the timely payment of installment loans is a factor in calculating your credit score.
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More ways to improve your credit score:
Your lender will work with you to provide financial education that can help you build your credit even more.
Less-than-perfect credit is a fact of life for so many people. You’ll feel empowered when you begin to take control of your credit history, and build up your credit score. Get in touch today to get started.
We don’t just offer loans, we build relationships.
First National Bank of Waterloo has been a pillar of the community for 110 years. We invest in the areas we serve, and we focus on building long-lasting relationships with our customers. And while we are proud to be a local, community bank, we offer the same services as the larger banks.
Got a question that just can’t wait? You can always call 618-939-6194 or email us.
* Results not guaranteed. Improvement in credit score dependent on your specific situation and financial behavior. Subject to approval. Proceeds of the loan will be used to establish a savings account which will serve as collateral for the loan. Once the loan is paid on time and in full, the funds in the savings account will be released to the borrower. Interest rate is the current Prime Rate plus 1%. As of March 23, 2023, the Prime Rate was 8.00%. Payment example: $1,000 loan to establish savings account, annual percentage rate of 12.348%, 18 monthly payments of $59.62. Annual percentage rate includes $25 document preparation fee. This is a fixed rate loan product.
