Credit Builder Loan:
A Significant Step in the Credit Building or Rebuilding Process.

Telcoe offers a special type of loan called the Credit Builder to help members with a bad credit history or no credit history at all to establish a good credit line on their credit report.

Members interested in the Credit Builder Loan are given the opportunity to borrow $500 or $1,000 for repayment over a 24-month term. The amount borrowed is placed in the Prime Savings Account and frozen for the 24-month repayment term. Payroll deduction is then set up to make the loan payment each pay period. At the end of 24-months, your credit report will reflect two years worth of on-time monthly payments, and you will have the money in your savings account (plus dividends) to use as you see fit.

For more information on building or rebuilding your credit with Telcoe, send us an email. Or simply pick up the phone and call 501-375-5321 or 800-482-9009 to request more information on the Credit Builder Loan.