Credit Builder Loan | Parda Credit Union

Build or repair your credit history to focus on your future.

If you’re just starting out, it can be tough to get approved for credit, because lenders want to see a proven track record of repayment. On the other hand if you’ve experienced financial hardship, your credit history may have suffered the consequences.

In either case, our Credit Builder Loan lets you borrow $500 - $1,000 for a new beginning. The proceeds of the loan (full amount) are placed in a savings account on hold, then released to you when it is paid in full. That money then can be used toward your next significant purchase, a down payment, security deposit or whatever else moves your financial life forward. And just as important, when you make your Credit Builder Loan payments on time, it provides you with a positive history of credit repayment.

Credit Builder Loan Advantages

Loans amounts of $500 - $1,000
Terms of 6-12 months*
No credit check
10% APR*
On-time payments reported to credit bureaus
Loan proceeds released to you on full repayment

Apply Today! Loan Rates

Membership required.
*APR=Annual Percentage Rate, subject to change. Contact us to verify our latest rates. Loan proceeds will be frozen in the account until the loan is paid in full. Once the loan is paid in full, the freeze will be removed and you may access the funds. Minimum loan amount is $500; maximum loan amount is $1,000. Payment example: $500 for 12 months at 10.00% APR is $43.96 per month. Not a promise to lend; some restrictions apply. Contact a Credit Union representative for complete details.