Credit Builder Loan

Build or rebuild your credit with a Credit Builder Loan¹ and jump-start your savings, too.

apply today

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A woman walks through the park, checking her phone to see how much her credit score has improved with the help of Civic's Credit Builder Loan.

Choose

Borrow $500 to $2,000

Build

Make on-time payments

Rewrite

Improve credit and savings too

Build your credit

Your payment history has one of the biggest impacts on your credit score. Why? Your payment history is reported to the credit bureaus – the good and the bad. The Civic Credit Builder Loan helps you build or rebuild credit by making on-time payments using a secured loan.

Here’s how it works: You select a loan amount between $500 and $2,000. We pre-fund your Select Savings Account with that amount. Then, you make on-time monthly payments to build positive payment history² and pay off the loan. Our team will report your on-time payments to the credit bureaus. Once the Credit Builder Loan is paid off, your loan amount is deposited into your Select Savings Account for you to use. Build or repair your credit and jump-start your savings!

A dad plays with his son, feeling confident and happy knowing his credit score has improved, thanks to Civic's Credit Builder Loan.

Terms

Choose your starting point

Select $500 to $1,000 (maximum term of 12 months); or $1,001 to $2,000 (up to 24 months)
Approved applications processed in 1 to 2 business days
Earn dividends from Select Savings Account balance

Features

Move forward with confidence

Improve credit score
Fixed monthly payments
Build positive credit payment history²
Jump-start savings

Ready to apply?

Make on-time payments with a Credit Builder Loan and build or repair your credit

apply today

Life is digital

So are these everyday financial tools

Graphic of a credit score meter to track progress.

Get up close and personal with your credit score

A Civic member reaching their financial goals with our helpful budgeting tool.

Make informed decisions from your spending data, credit score and goals

Civic Credit Union app graphic that displays the budgeting tool available to you as a member.

See your big picture with Civic and non-Civic accounts in one place

Steady Save Savings Account

Save at your own pace for any goal! Automate your savings for that vacation, a new vehicle or more!

Automatic savings using your small, affordable steps
Select how much and how often to save
Choose an annual date for funds to distribute to your Select Savings Account
Dividends compound daily, paid monthly

learn more

Emergency Loan

It’s urgent and unexpected with a need for cash. Get an Emergency Loan and move past it.

Emergency Loan amounts from $100 to $500
Short payment terms, up to 3 months
Rates as low as 14.00%% APR
Avoid high cost of payday lenders

learn more

You know the details matter (and you are in good company)

Here are a few FAQs

How much can I borrow with a Credit Builder Loan?

Loan amounts are available from $500 to $2,000.

What are the term options for a Credit Builder Loan?

Loans from $500 to $1,000 have a maximum term of 12 months.

Loans from $1,001 to $2,000 have a maximum term of 24 months.

Will the Credit Builder Loan be reported to a credit reporting agency?

Yes. We will report your loan payment history to Equifax and Transunion if you make each required monthly payment on or before the due date and in the proper amount.

What is the process if I default on my Credit Builder Loan?

Failure to meet your monthly payment obligations would cause you to be in “Default.” If the Default continues for twenty-five (25) days, we will demand immediate payment of all amounts that you owe by taking funds from your Select Savings Account to repay your loan.

What interest rate will I pay?

The Credit Builder Loan is a fixed rate set at 4% plus the dividend rate on the Select Savings account.

Will I have access to my Credit Builder Loan funds?

No. The loan proceeds will be deposited into your Select Savings account and placed on hold as collateral for the loan. When the loan is paid in full, you will have access to the funds.

When will I have access to my Credit Builder Loan funds?

When you have paid off the loan in full, the hold on the funds will be released, and you can access the funds.

How long does applying for the Credit Builder Loan take?

We process all loan applications as soon as possible and usually have an answer within 1 to 2 business days.

Where do I send my Civic loan payments?

Whether you mail your loan payments to us directly, or use an external bill paying service, the payment address is:
Civic Credit Union
PO Box 71204
Charlotte, NC 28272

This address is for payments to Civic Personal Loans, Auto Loans, Personal Lines of Credit, and Home Equity Lines of Credit (HELOCs).

Please note: This address is not for Civic credit card or mortgage payments, or for any commercial loans you may have with us.

View All FAQs

Are you ready to build or repair your credit?

Use this Credit Builder Loan to build positive payment history, improve your credit score and jump-start your savings.

apply today

1 Subject to approval. Borrowers must be at least 18 years old and live in NC, SC, GA or VA.

2 Results are not guaranteed. Improvement in your credit score is dependent on your specific situation and financial behavior. Failure to make monthly minimum payments on this and other loans by the payment due date each month may result in delinquent payment reporting to credit bureaus which may negatively impact your credit score. This product will not remove negative credit history from your credit report.