Credit Builder CD Loan Program
Commonwealth’s Credit Builder CD Loan Program is designed for individuals looking to establish or rebuild credit using a Certificate of Deposit (“CD”) as collateral. The CD may be funded by the proceeds from the loan or the applicant’s own proceeds. It is a fast, convenient, low cost way of obtaining a loan.
- No minimum credit score
- Reduced rate with automatic loan payment deductions
- Proof of recurring income
- Must complete a one-page credit quiz at time of application
- Must be 18 or older to apply
- Open a Commonwealth Certificate of Deposit or pledge an existing Commonwealth Certificate of Deposit
- $500 to $5,000
- Fixed Rates
- Flexible repayment terms
- No Tax or IRS liens or judgments
- No IRA CDs or CDs captioned “In Trust For”
Stop by one of our branches and pick up an application or call 251-380-7708 for more details.