Building credit in today’s economy can be a challenge. If you’re looking to build your credit , our share-secured loan may be just the solution. Plus, you may be able to earn yourself a $500 Line of Credit.
- Any adult member in good standing with Arrowhead will be approved
- Gradually assists in improving your credit score
- You determine your limit
- Just deposit 100% of the credit line you want to establish into a special savings account
- Arrowhead will report your regular on-time payments to the credit bureaus
- After 12 on-time payments, you can turn your loan into a $500 Visa
- Minimum loan amount $500
- Minimum loan payment $25
- Maximum term 120 months
- Interest rate is 5%APR or dividend rate + 3%, whichever is greater
*APR=Annual Percentage Rate. Rate valid as of , Subject to change without notice. Payment example: a 60 month loan at 5% APR would have monthly payments of $18.87 per $1000 pledged. Funds will be held until payments are made and pledge balance decreases.