Credit Builder

A fresh start for your financial future

Whether you’re just starting out or overcoming past financial challenges, our Credit Builder Loan is designed to help you begin to take control of your financial future.

No credit history? No problem.

This loan is ideal for young people or anyone with little to no credit history.

Bad credit? We’ve got you covered.

Our flexible approval process helps those with less-than-perfect credit take their first steps toward improvement.

Affordable and manageable

Low monthly payments and competitive interest rates make building your credit easy and stress-free.

Build credit as you repay

On-time payments are reported to major credit bureaus, helping to raise your credit score over time.

Credit Builder

Term

Loan Amount

Interest Rate

APR*

1 Year

$1,000

6.00%

6.00%

2 Year

$2,000

6.50%

6.50%

3 Year

$3,000

7.00%

7.00%

4 Year

$4,000

7.50%

7.50%

5 Year

$5,000

8.00%

8.00%

*Annual Percentage Rate (APR) effective December 19, 2024 subject to change without notice.

In order to secure the credit builder loan, it is necessary to establish a Village Bank savings account where the loan proceeds will be temporarily held until the loan is fully repaid. ACCELERATION; REMEDIES. You will be in default if (1) any payment required by the Agreement becomes delinquent or; (2) we discover that you have committed fraud or made a material misrepresentation in connection with the Agreement; If a default occurs, we will give you notice specifying: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to you, by which the default must be cured. Failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Agreement. In the event the loan becomes more than 60 consecutive days past due, acceleration may be executed, and the outstanding balance, finance charges, and late fees will be withdrawn from the Village Bank saving account and the loan will be terminated.


RATIFICATION. Except as specifically amended by the terms of this Deposit Account Collateral Loan Note and Disclosure Addendum, the terms of the Agreement remain in full force and effect and are hereby ratified and confirmed.

Let's Get Started

For more information or answers to any questions, please visit our Customer Care Center, use our Contact Form, or call us at (617) 969-4300.

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Credit Builder

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