Credit Builder Loans

FFA loans We help you become a Future Farmer

Build Your Credit and Your Savings!

Wanting to improve your credit score? AMOCO’s Credit Builder and Credit Mender Loan1 options can help! To get started, first decide which option fits your needs. Based on whether you’re starting to build your credit or if you need a fresh start, will determine which financing option would be best to help you. In addition, we encourage you to view our frequently asked questions (FAQs) below to help you make a more informed decision.

Debt Consolidation Loan

Credit Builder

If you’re seeking to build positive payment history that will help to improve your credit score, our Credit Builder Loan is what you’re looking for! Your payments will automatically be placed into a savings account and at the end of the term, you’ll have access to the funds. You can’t lose with this loan that offers savings and will also help improve your credit! 

  • Members with limited and non-negative credit history are eligible
  • Borrow up to $1,000
  • Terms up to 24 months
  • The loan will be funded to a savings account and placed on hold to secure repayment
  • Access to the funds once the loan is paid off
  • Build payment history and savings at the same time
  • Several convenient ways to manage and pay
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Calculate Your Payment
Rates

Credit Mender

With a Credit Mender Loan, it will allow you to build positive payment history that will help improve your credit score. The best part is that AMOCO will place your payments into a savings account and give you access to the funds once the loan is paid off. It’s a win-win, a loan that offers savings and will help improve your credit.

  • Members with negative credit history
  • Borrow up to $2,500
  • Terms up to 36 months
  • The loan will be funded to a savings account and placed on hold to secure repayment
  • Access to the funds once the loan is paid off
  • Build payment history and savings at the same time
  • Several convenient ways to manage and pay
Apply Now
Calculate Your Payment
Need More Information

Not ready to apply yet? If you have questions, we have answers. Ask us before you apply, and we will make sure we get your questions answered. 

Subject to membership eligibility. 1Credit Builder and Credit Mender Loans cannot be combined with any other offers. Visit AMOCOfcu.org/loan-rates for a complete list of rates and terms. Offer subject to change without notice.

Meter

Credit IQ Powered by SavvyMoney​

Credit Monitoring Tool

Credit IQ is our credit monitoring tool powered by SavvyMoney. As a member, you can access daily credit-score updates, credit reports, personalized offers based on your credit score1, and financial articles to help you hit your credit score goals. Credit IQ is available in the eBranch – Online and Mobile Banking. In addition to your credit score, you will be able to see what positively and negatively impacts your score and get advice on how to improve it.

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1 Credit IQ score may differ from the credit score AMOCO will use at the time you apply for a loan.

Managing Credit presented by MoneyEdu

Credit reports and scores, credit vs. debit cards, reading your credit report, plus more. Learn more about Managing Credit.

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FAQ

Credit Builder and Mender Loan FAQs

Browse Our Frequently Asked Questions Below.

The Credit Builder Loan can help members build their credit for the first time and provide an opportunity to build payment history. The Credit Mender Loan can help members who need an opportunity to re-establish credit and provide an opportunity to build a positive payment history and build savings.

You may borrow up to $1,000 for up to 24 months. 

You may borrow up to $2,500 for up to 36 months. 

Yes, once the loan is paid off, you’ll have access to the funds in your savings account. 

The loan will be funded in your savings account and placed on hold to secure payment. 

There are no early payoff penalties if you pay off the loan early. 

Members with a limited and non-negative credit history are encouraged to apply for  our Credit Builder Loan, and members with an adverse credit history are encouraged to apply for our Credit Mender Loan.