Good credit supports prosperity
If you have no credit, or are looking to maintain or improve your score, our credit building loan options offer flexible ways to move you forward.
Secured VERMONT Platinum Credit Card
This secured credit card uses the money in your savings account as collateral for the credit limit. Here’s how it works:
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Get approved
Get approved with any credit score for a credit card limit between $500 and $15,000. Your savings will secure the credit limit.
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Make monthly payments
Build or rebuild credit by making timely monthly payments. You may transfer your savings to pay off the card at any time.
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Free your savings
Once your credit has improved, you can reapply to have the hold on your savings lifted.
|
Transaction Type |
APR |
|---|---|
|
APR = annual percentage rate, effective as of 03/03/2023. |
|
|
Transaction Type Vermont Based Rate 4 |
APR 11.00% |
|
Transaction Type Standard Rate |
APR 15.00% |
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Transaction Type Cash Advances |
APR 15.00% |
|
Transaction Type Balance Transfers |
APR 11.00% |
Savings Secured & Certificate Secured Loans
Want to work on your credit score, or simply want a low interest loan option? A Savings or Certificate Secured Loan may be the perfect answer. Here’s how it works:
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Determine what you need
If you have a certificate or funds on deposit that you don’t need access to for daily or monthly needs, you can borrow against that money. This loan has a $300 minimum and no maximum.
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Enjoy low rates and flexible terms
Priced at 3% above deposit rates with flexible terms and manageable payments to help build and maintain your credit.
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Release the hold
As you build your credit, you’ll also release the funds we’re holding to secure the loan. Every payment you make will reduce the hold by the amount paid to principal.
Credit Builder Loan
Don’t have the funds or a certificate of deposit to secure a loan? Our Credit Builder Loan will help you save money and improve your credit score.
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Apply for $300 Plus
Apply for a loan amount between $300 and $1,000. Once you’re approved, we place the money in a dedicated savings account.
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Pay to build credit
By making timely payments on the principal and interest on the loan, you can improve or build your credit score.
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Earn released funds
Your payments release funds in your account equal to the amount of principal you have paid down.
Learn more about building your credit
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8 Tips for Building Credit – For the Beginner
How do you build credit when you have no credit history? I’d like to tell you it is easy, but …
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Five Common Credit Score Myths
When it comes to credit scores there are a lot of myths, which can cause consumers to make poor decisions …
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Credit Score Breakdown: 5 Factors of a Healthy Score
Your credit score is a number, based on your credit report, that helps financial institutions determine if you will repay …
Read more
Apply for a credit building loan
If you are already a member and want to apply online, it’s easier to open an account once you’ve logged into online or mobile banking. That way we can save you time by pre-filling the application with your information.
Disclosures
- 1
- – Other rates and terms may be available. APR may be adjusted based on your individual credit standing and term.
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- – Payment example: $1,000 loan for 12 months at 3.10% APR will have a monthly payment of $85.00.
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- - Applies to purchases identified by the state code used by the merchant’s processing system. All transactions processed by merchants with a Vermont state code and balance transfers will receive the Vermont Based Rate. See Consumer Credit Card Agreement and Disclosure for important terms and conditions.