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Build Credit with FLFCU
Whether you're just starting out and looking to establish credit, or you want to get your credit back on track, we have solutions for you!
Our Savings Secured, Certificate of Deposit Secured, and Secured Visa® Credit Card are specially
designed for individuals with little or no credit history or those with a lower credit score who want
to improve it.
How does it work?
- Establish a Loan Account: We create a loan account for you and provide you with a monthly
payment schedule.
Deposit and Secure Funds: Proceeds from the loan will be deposited in your account at the credit union and you will authorize us to hold (secure) the funds until you repay the loan. We will loan up to 95% of the amount on hold in your account, and no funds are available until the loan is paid in full.
Make Monthly Payments: You make monthly payments on-time and as agreed.
Build Credit and Savings: Each on-time payment you make will help establish and improve your credit rating and score. After making all scheduled payments, the hold will be released and the funds will be available to you. So, you not only build your credit, but you save money too!
Why Build Credit?
- Employers, property owners, lenders, insurance providers, and others use your credit information when deciding whether to offer you a job, a place to live, or approve loan requests. A lower credit score can mean paying more and even missing out on important life opportunities.
Where do you start?
- Begin your journey to a better credit rating and get started now! Visit any branch or call
our Contact Center to speak with a Member Service Specialist. It could be the start of a new
financial chapter for you!