Credit Builder Loans
Coosa Pines Federal CU Credit Builder Loans are as easy as 1, 2, dreams come true.
How It Works
- These loans are typically made for $500, have low monthly payments, and a fixed rate of 13.25% APR.*
- The loan proceeds are placed on hold until the loan is paid in full and then released to the borrower. So, when the loan is paid off, the borrower has $500** to save or spend.
- More than one loan can be made at a time, allowing for a good payment history to build on multiple accounts.
What Else Can I Do?
Coosa Pines members may also take advantage of free professional credit counseling through GreenPath™ as well as access to updated credit reports, including scores inside Online Banking or the Apps with CP CREDITCHECK™.
Where Do I Start?
For more information, please call 800-237-9789 or click Apply for Loan.
*APR=Annual Percentage Rate. Rates vary. Membership required. Restrictions apply. Call for complete details. **Amount of loan, or loan proceeds, will be released when the loan is paid in full. This is typically for $500, although the loan amount/loan proceeds can be higher.
Overdraft Protection Loans
This loan is available for qualifying members with personal accounts. The Overdraft Protection Loan provides a credit line of up to $500 linked to your checking account. There are no setup fees, and advances are made automatically in increments of $100 as needed.
- Access the Funds Easily
- At the teller window
- Through the free Express Line telephone banking
- Inside Online Banking
- Using our banking apps or
- With your Debit/ATM card.
There are no per-item or per-presentment fees. Instead, interest is charged on the outstanding balance at rates ranging from 10.95% to 15.95% APR (Annual Percentage Rate).
Make a monthly payment and pay off the loan at any time within 24 months. Applying is quick and easy, and it provides peace of mind knowing you are covered in case of accidental overdrafts or emergencies between paydays. For more information, please call 800-237-9789.
Share and Share Certificate Secured Loans
The Share Secured and Share Certificate Secured loans allow members to borrow against their own money by using the funds in the share account or a share certificate as collateral (or security) for the loan. With loan amounts beginning as low as $500, this is also a popular way to build a positive credit history.
The maximum loan amount for a Share Secured loan is determined by the funds available in the share account. The maximum loan amount and term of a Share Certificate Secured loan are determined by the amount and term of the certificate. Please note that IRA and IRA certificate funds may not be used to secure a loan.
NOTE: Contact a Loan Officer for more information. Restrictions apply.
Check out our Loan Rates.