Build Credit.
Build Confidence.
Struggling to get approved because of low or no credit score? You're not alone - and we're here to help. At Options Credit Union, our Credit Builder Loans are designed to help you establish or improve your credit score, while also helping you save money along the way.
What is a Credit Builder Loan?
A credit builder loan is a small, secured loan that is specially designed to help you build positive credit history. They are a smart, safe way to work on your credit and maybe even build up your savings.
Available Credit Building Products
If you have been credit challenged, need help getting back on track, or simply need a little something extra, we may have a tailor-made product just for you. These loan products are designed to help you build your credit.
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Credit Builder Secured Loan - Instead of giving you the money upfront, we place the loan amount into a secure Options Credit Union CD account. You make monthly payments, and once the loan is paid off, the funds are released to you - plus any interest earned.
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CD Secured Loan - You make a deposit into an Options Credit Union CD account and we use it as security for the loan. The loan proceeds are given back to you. Once the loan is paid off, the CD is released to you as well - plus any interest earned.
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Share Secured Visa - Like the CD Secured you make a deposit to your Options Credit Union share account and we use it as security for your Visa. If you close your Visa the funds are released back to you.
How It Works
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Choose Your Loan Amount - loans amounts can range from $500-$2,000, base on what fits your budget.
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Make On-Time Payments - make affordable monthly payments over a 12 month term. We report your payments to the major credit bureaus.
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Build Your Savings - your loan funds are held in a secure account - and you get access once the loan is fully repaid.
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Boost Your Credit Score - on-time payments can positively impact your credit history and score.
Quick Links
Frequently Asked Questions
Will I get the money upfront? It depends on what type of loan that you choose. In most cases the proceeds will be directed into a CD until the loan is paid in full.
Do you check credit to qualify? No, we do not check credit. There will be no need to do a hard credit pull unless you request it.
How long does it take to see change in my credit score? Many members see improvement within a few months of on-time payments. Every situation is different, but consistency pays off.
Do you require a down payment? Down payment requirements vary depending on your credit and the value of the vehicle, but we offer options for low or no down payment in some cases.
How do I apply for a credit builder loan? You can easily apply online using our secure loan application, or contact our team for personal assistance at (303) 860-1117.
Is membership required to get a loan? Yes, you’ll need to become a member of Options Credit Union to receive financing. Joining is easy and comes with great benefits.
Why Choose Options Credit Union?
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No Credit? No Problem - perfect for first-time borrowers or those building credit. At Options Credit Union you're more than just a credit score, you're family here.
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Low, Fixed Interest Rates - keep your payments predictable and affordable.
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No Hidden Fees - transparent terms, always
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Credit Reporting - we report to all three major credit bureaus.
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Member-Focused Service - we're a not-for-profit credit union - your financial wellness is our priority.
Who Can Benefit?
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Young adults new to credit
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Those recovering from past financial challenges
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Anyone looking to improve their credit profile to qualify for better rates on future loans.
Ready to Get Started?
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Check Current Rates: Stay updated on our latest loan offerings.
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Contact our Team: Call or text (303) 860-1117, or email helpdesk@optionscreditunion.com for personalized assistance.
Not sure if a Credit Builder Loan is right for you? Speak to one of our team members - we're here to help you find the best path forward.