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Credit Builder Loans: Here To Improve Your Score

Credit Builder Loans: Here to Improve Your Score

Everyone knows how important a credit score is. Although it’s only three digits, it holds a lot of power, especially if your score is low. Creditors use it to assess how likely you are to repay your loans, and a high score helps you qualify for low interest rates while also giving you the ability to borrow more money for purchases.

Your score is determined by five main factors: payment history (35%), accounts owed (30%), length of credit history (15%), new credit (10%) and types of credit in use (10%). But, building and maintaining a healthy score can feel unattainable or overly difficult for younger people and those with previous financial trouble. 

At Louisiana USA, we have loan options specifically designed to help with these problems. Credit builder loans, also known as short-term solution loans, are perfect for building or rebuilding credit. These loans were granted by the NCUA to prevent members from going to predatory payday lenders and serve as a great helping hand. 

So, how do credit builder loans  work? 

We initially loan members a small amount for six months to a year – this will help to establish installment credit. We recommend keeping the loan open for the full amount of time so the length of the credit history is longer. After this, we’ll issue a credit card with a small limit to help improve revolving credit. 

After six to eight months, members should be getting a balanced credit report and score. From then, we can increase limits or loan amounts as needed. 

Ready to apply for a credit builder loan?

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Insured by NCUSIF

Our branch is insured by The National Credit Union Share Insurance Fund (NCUSIF), which provides deposit insurance to protect the accounts of our members.



Family Eligibility

The family of Louisiana USA members are also eligible to join the credit union and benefit from our products and services. Refer those you love to the baking institution you know will take care of them.



Additional Services

Night Deposit Box
ART (Audio Response Teller)
Account Alerts
Drive-Thru Window
Visa Gift Cards
Notary Services
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Financial Counseling & Continued Education

Our expert staff is always available to assist members with any financial issues or concerns, From designing budgets to improving credit scores, we're here to help!



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Through Shared Branching, a co-op service provided to our members, you can access branches and ATMs across the United States and beyond! Download the app to your phone or visit our Service Center & ATM locator page to find your nearest location.



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