The Credit Builder Loan


The Credit Builder Loan

Get credit with no credit history.

Here’s how it works:

• You make monthly payments to fit your budget.

• If you make your monthly payments on time you will establish and continue to have a good credit rating.

• The amount you borrow is held frozen in your account.

At the end of the loan, you will have the balance available to you. (See example.)

Rate: Current Prime plus 1% (fixed rate) up to 48 months

Simplified Example:

You are approved for a Credit Builder loan of $1,000. This amount is put into an account and is frozen.

Each month you make a payment of $100. (Please note – these numbers are just an example.)

$10 of the payment goes toward interest; $90 becomes available to you.

At the end of your payments, you have $1,000 in your account. If you have made your payments in full and on time, you have established a credit history.

328 North Main Street
Barre, VT 05641
Phone: 802-522-5000
Toll Free : 888-996-5328
Fax: 802-522-5020

Mon-Fri 8:30 a.m.-5:00 p.m.

Mon-Fri 8:00 a.m. - 5:00 p.m.

One National Life Drive
Montpelier, VT 05604
Phone: 802-229-7216
Toll Free : 888-996-5328
Fax: 802-229-7158

Mon-Fri 9:00am-3:00pm

Scott Roberts, FSO (229-7315)
is available 8 am to 4:30 pm.

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Mastercard Debit Card: Call 1-800-627-8372
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Granite Hills Credit Union is a locally managed, not for profit financial institution open to anyone who lives or works or worships in Washington or Orange Counties of Vermont and their families.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government National Credit Union Administration, a U.S. Government Agency

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