When you are ready to establish credit, do it with our Credit Builder Program.
Credit Builder Loan Program
We Will Help You Build a Credit History AND Grow Your Savings.
Here’s how it works.
- Credit Builder creates a loan in your name and then takes the proceeds from the loan to create a certificate of Deposit (CD) in your name, which in turn secures the loan for the life of the loan (a one to three year term).
- Or, if you have an existing CD or the funds to purchase a CD, you can use it to secure the loan and utilize the proceeds of the loan for your needs.
- Because Nuestro Banco reports your loan payments to the credit bureau, you will build your credit history.
- Loan payments are made by you on a monthly basis until the loan is paid off.
- When you pay off the loan, the money in the CD and interest are released and you have access to use it; to continue to build your savings, buy a house or use it any way you wish.
It is a win - win situation.
You can save money and build a credit history at the same time!
Call a Nuestro Banco representative for more details.
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