Here's how it works.
- Build your credit while saving for a down payment.
- Loan amounts range from $500 to $2,500.
- Make payments over a 12-month, 18-month or 24-month period.
- Get started for only $25 (origination fee).
- If you participate in a free online FDIC Money Smart financial education program or listen to a Money Smart Podcast, you’ll be eligible to earn a $25 VISA Gift Card.*
Why is it so important to have good credit?
You need a good credit score for many things in life – to qualify for a credit card, car loan or home loan – and your credit score could even be considered by potential employers and landlords.
Building a good credit score may seem difficult at first, so take small steps to get started. A positive credit score can have a huge impact on your future.
*All loans subject to approval for repayment ability. Proceeds of the loan will be used to establish a CD which will serve as collateral for the loan at 3% over the CD rate term selected. Timely payments and proof of educational program/podcast completion are required within the first 90 days of origination to be eligible for the $25 VISA Gift card. One card per loan. Illustrative payment example: $1,000 loan to establish CD, annual percentage rate 6.575%, 18 monthly payments of $58.49, finance charge of $52.86 includes the $25 origination fee financed. Make on-time payments to build a positive credit history and the CD will be yours after the loan is paid in full. If you are late or miss payments, negative information may also be reported to the credit bureaus, could hurt your credit history, and the CD will be utilized to pay off the loan.