Credit Builder Loans
Don’t let poor credit get you down. Our Credit Builder Loan lets you build or re-establish your credit while continuing to save for a brighter tomorrow.
Boost Your Score With a Telcoe Credit Builder Loan
Borrow Your Way to Better Credit
A Credit Builder Loan helps you establish or re-establish credit by building a strong payment history. We advance the loan amount and hold those funds during the term of the loan, so you don’t put any money up front. You make affordable monthly payments, and we report your payment activity to the credit bureaus every 30 days. At the end of the loan, the funds are released to you.
- Easily build or rebuild your credit score
- Customizable repayment terms
- Competitive rates and affordable monthly payments
- No surprise fees or penalties—just predictable monthly payments
- Receive your funds at the end of the loan term
- It’s a great option for anyone 18 or older who needs to build credit or start re-establishing credit.
Lay the foundations for a brighter financial future with a Telcoe Federal Credit Union Credit Builder Loan. Click below to get started!
The Best Credit Builder Loan Rates
| TYPE | APR | AMOUNT | TURNAROUND TIME | TERMS |
|---|---|---|---|---|
| Credit Builder | As low as 15.00% | $500 or $1,000 | up to 72 hours | up to 24 months |
All loan rates are variable and subject to change at any time.
How Much Does a Credit Builder Loan Cost
Get a clearer idea of how a Credit Builder Loan will affect your finances. Use our handy calculator to determine your likely interest rate and monthly payment over different terms and for various loan amounts.
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"Every interaction is easy going, and effortless. Customer service has always been kind and all-round top tier. Highly, highly recommend this institution. Love them!"
– Catherine G., Little Rock, Arkansas
★★★★★
"What an amazing FCU. I can’t say enough amazing things about these people. What a great place to work with and they offer great rates if you want to invest money."
– Drew S., Little Rock, Arkansas
★★★★★
"We have 2 loans from Telcoe. Great rate! No hassle transactions!"
– Rogelio., Little Rock, Arkansas
Credit Builder Loan FAQs
How does a Credit Builder Loan work?
Telcoe advances the loan amount and holds those funds during the term of the loan while you make monthly payments. We report your payment activity to the credit bureaus every 30 days. When the loan term ends, the funds are released to you.
How much can I borrow with a Credit Builder Loan?
You can borrow up to $1,000. Your loan amount and term are designed to keep monthly payments affordable while you build credit.
How are funds paid out for a Credit Builder Loan?
The loan funds are not released to you upfront. Telcoe advances the loan amount and holds it during the loan term while you make payments. At the end of the loan, the funds are released to you.
Who is a Credit Builder Loan for?
It’s great for anyone 18 or older who needs to build credit or re-establish credit.
What should I do after I finish my Credit Builder Loan?
Many members use their released funds as a great next step toward a secured credit card, because they have money available to use as the security deposit.
What is the maximum term for a Credit Builder Loan?
Your term and fixed interest rate are determined based on your existing credit record. Most loans are repayable over a year or less.
How are Credit Builder Loans repaid?
You build credit by making regular, on-time monthly payments. Throughout the term, Telcoe holds the loan funds while payments are made and reports to the credit bureaus every 30 days. At the end of the agreed loan term, the funds are released to you.
Is a Credit Builder Loan a good idea?
A Credit Builder Loan can be a great idea if you’re building credit for the first time or working to re-establish credit. By making on-time payments, you can strengthen your credit profile and open the door to more borrowing options in the future.
As with any loan, it’s important to choose a monthly payment and term that fit comfortably within your budget so you can pay on time each month.
Who qualifies for a credit builder loan?
Credit Builder Loans are designed for people who want to build or rebuild credit, including members with limited or challenged credit histories. Approval, rate, and terms may vary based on your credit profile.
Who is eligible to join Telcoe Federal Credit Union?
Telcoe Federal Credit Union proudly serves various large and small employer groups, organizations, charities, and counties throughout Arkansas. If you’re employed by one of our Select Employer Groups, you could be eligible to join Telcoe and enjoy our membership benefits.
Membership is also open if you live, work, attend school, or worship in the state of Arkansas. You must have an Arkansas driver’s license or state-issued ID.
Have questions? We’re here to help — just contact us!
Ready to Build a Better Future with Telcoe Federal Credit Union?
More Loan Options
Credit Cards
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Lock in a better rate and terms on your personal loan. Secure the
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deal.
Home Equity Loans
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way to fund home improvements, vacations, weddings, tuition, and more.