Low or no credit can have a widespread impact on a person's life: it can make it difficult to access financial products, secure housing, and even find employment. Payment history is one of the biggest factors in determining your credit score. Heartland Credit Union's Credit Builder Loan offers a unique opportunity to not only enhance your creditworthiness but also foster a healthier financial outlook.
Elevate Your Credit Score
The primary advantage of HCU’s Credit Builder Loan is its direct impact on your credit score. By making on-time payments, you're actively contributing to the establishment of a positive credit history. Heartland reports your progress to TransUnion and Experian credit bureaus every month, helping you build a strong foundation for future financial endeavors.
Flexible Borrowing Options
You have the flexibility to tailor the Credit Builder Loan according to your needs. Borrow between $500 and $3,000 and the Credit Builder Loan features flexible terms to ensure your monthly payments are manageable within your budget. This customization ensures that the loan is a personalized tool that fits seamlessly into your financial plan.
Dual Purpose: Credit Building and Savings
With the Credit Builder Loan, the borrowed amount is deposited into a savings account, allowing you to earn dividends while you work on improving your credit. At the end of the journey, you receive the full amount of the money used to secure the loan, along with the accrued dividends. It's a dual-purpose solution that not only builds credit but also nurtures your emergency savings, providing you with a financial safety net.
Financial Education and Empowerment
Beyond the tangible benefits of credit improvement and savings, Heartland is committed to providing financial education and empowerment. Throughout the Credit Builder Loan process, you have access to resources and guidance to enhance your financial literacy. We’re here to empower you to make informed decisions about your money and achieve long-term financial success.
Heartland Credit Union's Credit Builder Loan is a financial tool that goes beyond traditional lending. It's a holistic approach to building credit, growing savings, and fostering financial empowerment. Learn more about the Credit Builder Loan.
Membership required. Assumes an HCU checking account with direct deposit or an HCU Visa Credit Card. Heartland Credit Union does not guarantee the impact of a Credit Builder Loan on a borrower’s credit score. Failure to make timely loan payments may result in a negative impact.
