Credit Builder Loans

Build your credit with a second chance secured loan.Are you working to rebuild your credit profile? Let us help you get your next shot at a Second Chance with one of these credit-builder loans from MICU.

Payments on these secured loans are reported to the credit bureau as payments on "installment" or "revolving" credit, which is one of the fastest ways to improve your score!


  • Deposit the amount you want to borrow in a share savings account at MICU
  • Use the account balance as collateral for your loan
  • Neither your current credit score nor your debt to income ratio is a contributing factor for this loan
  • Lower interest rate than a credit card
  • Reported as payments on "installment" credit


  • Credit score of 600 or better required
  • Debt-to-income ratio must be less than 40%
  • Minimum credit limit is $250
  • 110% of credit limit must remain in a MICU savings account for as long as this VISA card is active
  • Reported as payments on "revolving" credit

Call us today to learn more: 309.661.1166 or 800.527.2205 or apply online now.

Prefer a paper loan app? Download one here.

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Membership is open to anyone who lives or works in McLean County, is related to a current MICU member, or would like to join the Mid-Illinois Dollars for Scholars Foundation.

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