Build Your Credit with EKCU’s Exclusive Credit Builder Loan
At EKCU, we believe in providing our members with the tools to build a strong financial future. That’s why we’ve launched our Credit Builder Loan, designed exclusively for members with lower credit scores who may struggle to access traditional forms of credit. This loan is specifically aimed at helping you improve your credit rating while managing your repayments in a responsible way.
Who Can Apply?
To be eligible for the Credit Builder Loan, you must:
- Have been a member of EKCU for at least 1 month.
- Have a minimum of £170 in savings.
- Have a lower credit score (this loan is tailored for members with lower credit ratings).
If your credit score falls within our normal lending criteria, your application will be assessed under our standard lending process rather than the Credit Builder Loan. This ensures we provide the most suitable option for your financial situation.
Loan Details
- Loan Amount: £750
- Term: 12 months
- Repayment: £76 per month
- Interest Rate: 42.6% APR
As part of the application process, you’ll need to provide:
- Three months’ worth of bank statements
- Your most recent wage slip
A credit check will be required to assess eligibility, and the affordability of the loan will be reviewed by one of our loan officers, who will consider your overall financial situation and risk factors.
The Application Process
Applying is straightforward and can be done online or in-office. If your loan is approved, you will sign your loan agreement, and the funds will be transferred directly to your designated bank account. Repayments will be made monthly via standing order, ensuring a regular and easy repayment schedule.
Why Choose the Credit Builder Loan?
One of the biggest advantages of this loan is its potential to help you improve your credit score. EKCU reports to Equifax Insight, so maintaining regular, on-time repayments can have a positive impact on your credit rating. However, missed payments or high credit balances with other lenders may still negatively affect your score, so it’s essential to stay on top of your repayments.
Important Information
This loan is subject to affordability checks, and approval is not guaranteed. While we are here to support your financial journey, terms and conditions apply. Please note that missed repayments may affect your ability to borrow in the future.
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registration number 213849).
If you’re ready to start rebuilding your credit and want a loan that’s designed for your needs, apply for the EKCU Credit Builder Loan today!
Have questions? Our team is available to help! Whether you apply online or visit us in person, we’re here to guide you every step of the way towards improving your credit score with EKCU.
EKCU – Helping You Build a Better Financial Future
