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Credit Builder Loan

Are you looking for a painless way to improve your credit and accumulate some savings along the way?

At First Choice Credit Union (FCCU), we understand life happens and that bad things can happen to good people. Some financial setbacks are unavoidable. We have created the Credit Builder Loan to help Members improve their credit in a painless and positive way.

Here is how it works. You apply for the Credit Builder Loan. Qualifying is easy. We approve a Certificate of Deposit (CD) Secured Loan (also known as the Credit Builder Loan). Simultaneously, the proceeds from the loan are placed in a CD in your name in the same amount of the loan. Each month you make the small monthly payment* on the Credit Builder Loan. After one year, you have paid a loan in full thereby creating a line of good credit. Even better, you now own the money in the CD.


* A loan of $1,000 and repaid in 12 months will have a payment of $86.06 at 6.00% Annual Percentage Rate. Larger loans are available but 12 months is the maximum term.

Mailing Address
1055 S. Congress Avenue
West Palm Beach, Florida 33406-5195

561.641.0100 Phone

Your savings are federally insured to at least $250,000 Your savings are federally insured by NCUA
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