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Smart Start Loans

Time to get smart about your credit? Whether you're just starting out, or working to improve your score, we can help.

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Features
Calculator
Rates & Fees
FAQ & Links

Features

We're always looking for new ways to help our members. Our new Smart Start loan is designed to help you either establish credit or repair past credit history over the course of 12 months.

How it Works
  • We'll open a no credit-qualifying loan for you of up to $1,000
    • Maximum term of 12 months
    • Interest rate of 15% APR*
  • Each month, as you make your payments, a portion of the funds become available
  • We report your payments each month to the credit bureaus, gradually helping you establish good credit (or helping to improve your credit score.)
  • At the end of 12 months, if all payments are made on time, you can request to have a $500 line of credit by visiting your nearest branch or contacting the call center at (800) 743-7228

*APR=Annual Percentage Rate. Rate valid as of , Subject to change without notice. Maximum loan of $1,000. Payment example: a 12 month loan at 15% APR would have monthly payments of $90 per $1,000 borrowed. Funds will be held until payments are made and pledge balance decreases.

Calculator

The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.

Rates & Fees

  • Interest rate is 15%APR*
  • Loan payment is approximately $90

*APR=Annual Percentage Rate. Subject to change without notice. Maximum loan of $1,000. Payment example: a 12 month loan at 15% APR would have monthly payments of $90 per $1,000 borrowed. Funds will be held until payments are made and pledge balance decreases.

FAQ & Links

What is the available term?

Maximum term is 12 months.

Is there a maximum loan amount?

Yes, the maximum loan amount is $1,000.

Do I need credit to apply for this loan?

No, no credit check is run to take advantage of this loan.

Does the Smart Start loan help me build my credit?

The Smart Start loan is reported to credit bureaus. With regular, on-time payments, your credit could improve.

How is the Smart Start loan different than the shared-secured loan?

You can start with as little as $500, and the balance on your loan becomes available as you pay each month, rather than needing your entire pledge up front.

*APR=Annual Percentage Rate. Rate valid as of , Subject to change without notice. Maximum loan of $1,000. Payment example: a 12 month loan at 15% APR would have monthly payments of $90 per $1,000 borrowed. Funds will be held until payments are made and pledge balance decreases.

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