We can help you establish your good credit history or start rebuilding your credit with our Credit Builder Loan.

Build or repair your credit with this low-cost loan

Building credit is important. It can save you thousands when it comes time to borrow money for a car or get a credit card.  With most lenders, the higher your credit score, the lower your loan rate it.  Whether you're wondering how to establish credit or you'd like to improve your existing score, a Credit Builder Loan could be for you.

With a Credit Builder Loan, the member requests a loan amount typically between $500-$1,000. The approved loan amount is placed in your Chesterfield Federal Credit Union savings account, where it will earn interest.  The loan balance is paid off over a term of six months to one year.  We report your on-time payments to the credit bureau, establishing or improving your credit history.  Once the loan is repaid, funds can be withdrawn and used as desired.  It's a great way to build credit and to start savings.


  • Low rate of 8.00% APR
  • Low monthly payment
  • On-time payments are reflected on your credit report


  • Another loan will not be granted until the Credit Builder Loan is repaid in full
  • All applicants must be in good standing with Chesterfield Federal Credit Union
  • Applicants must have the capacity to repay the loan
Effective Jan 1, 2017
Personal Lending APR* Term^ Calculator
Credit Builder Loan 8.00% 60 mo. Calculator
* Annual Percentage Rate. Lowest APR available with qualifying credit & automatic payment.
^ Financing available for 49 - 60 months on loans above $10,000. As an example, the monthly payment on a loan with 7.99% APR and an 60-month term would be about $20.27 per $1000 financed.

Applying for a Credit Builder Loan online is easy! Just follow these simple steps:

  1. Log-in to your Net24 Home Banking account at the top right corner of this page. If you are a non-member applying for a loan, you can receive a special log-in to apply for your loan and check your status. Eligibility requirements apply. To determine if you are eligible for membership, please visit our eligibility page. If you do not have a Net24 Home Banking account, you can gain instant access here.
  2. On the top navigation bar, click "Apply For A Loan" and select "Web Loan"
  3. Complete the online application with all relevant information.
  4. Your loan will enter our loan queue and you will be contacted by a loan officer within 1 business day.

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