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Credit Builder Loans

Build or repair credit. No need to pay a third party.

Get off the credit merry-go-round

Building or repairing credit can seem like an endless circle. How can you establish credit and build your credit history if you can’t get approved for a loan? Our credit builder loans can help break that cycle.

Here’s how a credit builder loan works

  • Step 1

    Apply for a credit builder loan. Upon approval, the money will be deposited into your ATFCU savings. A hold is placed on the cash so it cannot be spent.

  • Step 2

    You make on time loan payments for the length of your loan. ATFCU reports the on time payments monthly to the three major credit bureaus.

  • Step 3

    At the end of the loan term, the loan proceeds (plus interest earned) are released to you.

  • Step 4

    Congrats! Assuming that you’ve kept the rest of your financial life under control, the positive reports have increased your credit score.

Credit Builder Loan Options

Choose the amount and time period that works best for you.

$500 for 12 months at 4% APR = $43 monthly payment

$1,000 for 18 months at 4% APR = $59 monthly payment

Apply Now

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Credit Builder Loan FAQs

Please bring at least your last 2 paycheck stubs or another form of income verification.

*Other documentation may be required upon review of the loan application.

We have several options available for submitting loan payments:

  • In Person: you can see a teller to make a cash, check, or credit card cash advance payment
  • By Mail: send a check or money order to:
    Abilene Teachers FCU
    PO Box 5706
    Abilene, TX  79608
  • By Phone: you can pay by credit card or check by phone by calling 325.677.2274.  There is a $5  convenience fee.
  • Online: by using your ATFCU online banking or mobile app you can
    • Transfer funds from one of your ATFCU accounts to your loan
    • Pay with a credit card ($4 convenience fee)
    • Set up external loan payment with routing number and account number from another financial institution.  There is no fee with this option and you can set up recurring payments.

If you find a discrepancy on your credit report, there is a great article on Credit Karma’s website with instructions on how to dispute the incorrect information.

How to dispute an error on your credit report

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Begin building credit today

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All loans subject to approval. Rates, terms & conditions are subject to change and may vary based on creditworthiness, qualifications & collateral conditions.

APR = Annual Percentage Rate