Loans secured by collateral offer great additional options for those seeking to borrow or build credit.
CREDIT BUILDER LOAN
Save money and build credit the easy way! This loan is designed to assist members with no credit, limited credit or those striving to establish a positive credit history. A Credit Builder Loan does not provide immediate funds for member to use; instead, the money borrowed is secured in a CD until the last payment on the loan is made. Features of the Credit Builder Loan include:
- Easy application and approval (low credit score or limited credit won’t block an application)
- Build/repair credit while paying lower interest
- Low deposit minimum
- Convenient, short term lengths
- No loan origination fees
Save your credit AND your money while building a positive credit history and a healthy savings account balance.
You can finance through MCCU with any of these easy options:
- Call us at: 218-625-8800 to apply over the phone.
- Use our convenient Video banking service to apply.
- Visit us in- branch! Click here to schedule an appointment.
Membership and loan approval required. MCCU does not guarantee results. Automatic payment set-up is required. Credit scores are based on the information in each individual's credit report and are not generated by MCCU. Failure to make timely loan payments may result in negative reporting to the bureaus and a negative impact to your credit score. Past credit history cannot be altered by this loan.Go to main navigation