Build your credit with a $1,000 Kick Start Loan from Financial Plus*!
The Kick Start Loan was designed with young adults in mind. We saw a need to help young people build their credit and save money at the same time. Identifying a need is one thing, but creating a solution is another. We've done both.
In order for this to work, we knew that qualifying for the program needed to be simple. The only documentation that you'll need to provide (other than ID) is a current paystub that verifies your employment and income.
Here's how it works:
- Take out a Kick Start Loan for $1,000.
- We place the money we lend you into an account in your name. During the loan repayment period we will lock the funds up for you. This is our "oh-so-clever" plan to help you save money.
- You make on-time payments for the life of the loan, and we will report your on-time payments to the credit bureaus. (This is where the credit building part comes into play.)
When the loan is paid off, we release the $1,000 in your account, and it's yours to save, to use for school, a car, a puppy, an umbrella for a rainy day...you get the point.
After you have paid off the loan, built your credit, and saved money, you may then be eligible for a VISA credit card with a $500 limit.*
Since the main purpose of this loan is to build credit, on-time payments are mandatory. If any payments are made outside the grace period, the loan will be paid off with the funds in the account.
Ask us how you may qualify for a rate as low as 3.99% APR!** Apply online or at one of our branches today!
*Once the member has made at least 12 on-time monthly payments, Financial Plus may be willing to lend additional money with a $500 unsecured VISA credit card. The member is invited to apply and must be able to prove income. Rate based on credit score at time of new application.
**APR=Annual Percentage Rate. Equal Opportunity Lender. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval. See Credit Union for complete details.