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Credit Builder

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Credit Builder

Of all the financial tools in your arsenal, your credit score is the most important. It's the one that gets you loan approvals, better insurance rates, and can even affect employment decisions.

With this unique product you can start building good credit now. We'll open a CD in your name and let you make payments on it. The CD earns interest so you can build your savings at the same time!

Summary
  • Establish good credit
  • Interest earned
  • CD is FDIC insured

By reporting your on-time payments and the satisfaction of your loan to reporting agencies, SBT is helping you establish a period of good credit use.

We can also give you a secured credit card to help you build or re-establish good credit. Contact us to find out more.

How It Works

With Credit Builder, it's easy to establish good credit while building your savings too! Let us take care of everything! Here's how it works:

1. We open a $1,500 Certificate Of Deposit (CD) in your name.

2. We establish a loan in the amount of the CD for the term of the CD.

3. You make regular monthly loan payments, essentially purchasing your CD during the term of your loan.

4. We then report your loan payments to TransUnion, which may help build good credit.

5. At the end of term, you make your final loan payment and SBT reports your loan as satisfied.

6. The funds from the CD plus the interest earned is yours.