Credit Builder Loans

Our Credit Builder Loan enables members with damaged credit histories to rebuild their standing.


  • Member requests a loan amount of $500-$1,000
  • The approved loan amount is placed in an MITFCU Savings Account, where it will earn interest
  • Loan balance plus 5.00% Annual Percentage Rate is repaid to MITFCU over a term of six months to one year*
  • Once the loan is repaid in full, funds can be withdrawn from the MITFCU Savings Account as desired
  • Another loan will not be granted until the Credit Builder Loan is repaid in full
  • All applicants must be in good standing with MITFCU
  • Applicants must have the capacity to repay the loan

*Example loan payment schedule: A $1,000 Credit Builder Loan with an APR of 5.00% for 12 months has an approximate monthly payment of $85.61.


  • Low monthly installment payment
  • Promotes improved savings habit
  • A report of your favorable payment history will be sent to the credit bureau

Apply Today!

If you'd like to open a Credit Builder Loan, please complete our easy online application. Documentation - Please send us a copy of a recent pay stub, W-2, or income tax return for income verification purposes.





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