Credit Builder Loans

Maybe you're trying to get your credit rating back on track. Or maybe you're a young adult starting from scratch. Either way, one good way to establish yourself as a responsible borrower - and build your credit score - is through on-time loan payments. At Summit Credit Union, we offer several ways to make that happen.

Credit Builder Loans

The amount you borrow remains in a savings account until you pay off the loan in full. Once you do, the funds are yours.

• Loans from $1,000 to $5,000
• Competitive interest rates
• Incentive to create a savings plan
• Schedule on-time payments through Digital Banking, either online or the Summit Credit Union mobile app

Credit Builder Visa® Loans

Get access to money when you need it. You can secure a line of credit using funds in a special savings account. Or you can secure the credit line with funds fully advanced from a Visa® card.

• Credit lines up to $2,000
• No annual fee 
• No minimum finance charge
• No cash advance fee
• 25-day grace period on interest from purchases

Credit Builder Auto Loans

To get over the financial hump, you may need to find a job - or get a new one. That can require reliable transportation. Through our partnership with Enterprise Car Sales, we offer special financing, with a low down payment, on pre-owned cars.

• Borrowers must qualify based on their ability to pay 
• Payroll deposit required 
• Minimum $500 down payment 
• Other qualifications may apply