Establishing a Solid Financial Foundation
In today's world, having a good credit score is essential for securing a loan, renting an apartment, even, landing a job. For individuals with limited or poor credit history, the products listed below are designed to improve your credit standing and build a solid financial foundation.
Credit Builder Loan
A Credit Builder Loan will help members establish or enhance their credit score by demonstrating an ability to make consistent loan payments. Unlike traditional loans, the loan proceeds will be placed in a regular share account on hold for the term of the loan. The funds will earn dividends during repayment, and then, will be released from the hold once the loan is paid in full. Members will not have access to the funds during the repayment period.
- $500 Minimum/Maximum Amount
- Six month term
- 3.00% APR*
- No credit report is required
- Verification of income is required
- Minimum of one year of employment
- No penalty for early repayment
Shared Secured Loans
Our Savings Secured Loan offers a better way to utilize your savings. Keep your deposits in by using your MariSol Savings or Certificate Account as collateral and borrow the money you need to handle any emergency.
- Our lowest lending rate!
- Helps re-establish or establish credit
- Terms up to 60 months
- Can secure a line of credit or Standard Mastercard credit card
- The minimum loan amount is $500
Secured Mastercard
Need to re-establish credit? A secured MasterCard is your answer. It is a Mastercard that is secured by your savings. No additional charges for cash advances and no increase in the interest rate. The Secured Mastercard is under the same rate and conditions as the MariSol Standard Mastercard.