Credit Building
More Ways to Move Forward
Not every financial need fits neatly into an auto, home or traditional personal loan.
GECU offers additional borrowing options that can help members use savings as collateral, create backup protection for checking or begin establishing a stronger credit history.
Borrow Against Money You've Already Saved
Use eligible savings or a Certificate of Deposit as collateral while pledged funds continue earning applicable dividends.
- Requires savings or Certificate of Deposit balance equal to or greater than loan balance throughout the loan term
- Your savings become available to use as your loan balance is paid down
- Savings and Certificates of Deposit continue to earn dividends while securing your loan
An Extra Layer of Protection for Your Checking Account
An Overdraft Line of Credit is revolving credit connected to your checking account that may cover eligible transactions when sufficient funds are not available.
- Available in $500 or $1,000 limits
- Corresponding payments of $50 or $100/month
- No collateral required
- No transfer fees (interest does accrue on the balance)
A First Step Toward Establishing Credit
Designed for eligible members with little or no credit history.
- Unsecured loan
- Fixed rate: 14.99% APR*
- Loan amounts: $500–$1,000 | Monthly payments: $25–$50
- Requires proof of employment and income
*Annual percentage rate. Terms and conditions apply.
Build Credit While Building Savings
With a Credit Builder Loan, borrowed funds are placed into a pledged savings account while you make payments. Once the loan is repaid according to its terms, the pledged funds become available.
- Secured loan — funds deposited into your savings account and pledged as collateral
- Fixed rate: 6.0% APR*
- Loan amounts: $500–$1,000 | Monthly payments: $25–$50
- No credit report or proof of income required
*Annual percentage rate. Terms and conditions apply.
Next Steps
Looking for a Credit Card?
Explore the GECU VISA for another borrowing option.