Credit Builder and Savers Loan

  • Safe way to build credit or help repair damaged credit – 14% APR
  • $500 loan to kick start your savings with affordable monthly payments
  • Financial education on credit provided with each loan
  • A report of your favorable payment history will be sent to the credit bureau

To apply, call us at 706.291.9290,
or visit one of our locations

Building a positive credit history safely takes time and a financial partner who believes in you. Our Credit Builder and Savers Loan helps members do just that, without applying for high interest rate credit cards or going to a payday lender or finance company. This loan is ideal for members with no credit, or members who are recovering from previous credit problems, bankruptcy, or other difficult life circumstances. Satisfactory repayment will result in favorable consideration for future NWGACU loans. The loan proceeds must be deposited into a regular share account and a permanent hold placed on those funds until the loan is paid in full.

Qualifications to receive the loan include:

  1. Member at NWGACU for at least 12 months.
  2. Currently employed with the same employer for at least twelve months.
  3.  Current on all loans at the credit union.
  4. Member must have a checking account with NWGACU.
  5. Payments may be made through payroll deduction, auto-transfer, mail or in person
  6. Capacity to make payments, as indicated by your debt-to-income ratio
  7. No negative balance in any account with us, as well as having caused us no previous unresolved losses

Additional information:

  1. Qualification will not be based on current credit bureau report.
  2. Score enhancement action plan must be completed.
  3. Direct deposit/payroll deduction is strongly encouraged.
  4. There is a $20 application fee.