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Freedom First Credit Union

Credit Builder

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Helping Borrowers Establish Positive Credit

Borrowers who have low or no credit face a catch-22: they are often turned down for loans, and when they are approved, they are charged higher interest rates. That in turn makes repayment more difficult.

Freedom First’s Credit Builder helps borrowers develop a habit of making regular payments on time while establishing positive credit.

What is Credit Builder?

  • An advance on a $500-$1,500 loan.
  • Loan proceeds are held in a secure Freedom First account while you repay it.
  • The borrower receives the loan proceeds once it has been repaid.
  • Eligible if you live, work, worship, or go to school in Botetourt, Craig, Franklin, Montgomery, or Roanoke Counties or the cities of Roanoke, Radford, or Salem.

Woman kissing her baby with caption: Credit builder, 150 participating members, $66,377 in loans, #bankforgood

Regular payments can potentially result in a significantly higher credit score.

In fact, new Freedom First Credit Builder members in 2013, who started with zero credit, had an average credit score of 630 after only 6 months.

In 2016-2017, we helped 150 members of the Roanoke and New River Valleys build their credit through this program.

Visit your local branch or contact us today to apply. Questions? Call 540-389-0244 (local) or 1-866-389-0244 (toll-free).
View a full listing of our Products and Services:

Looking for a phone number, address, or other basic info?

Our calculators can help you figure out your personal finances and set savings goals. 

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Assess your credit as "Good," "Fair," or "Needs Improvement."

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See what it will take to pay off your credit card balance.

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Determine whether or not debt consolidation is right for you.

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Determine how much emergency savings you may need, and how you can begin saving.
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See how much you have left to save and where your money is being spent.

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Find out how much you owe to get started on a debt management plan.

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What will it take to reach your financial goal? This calculator helps you find out.
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See how consolidating your student loans can help you pay off high interest debt sooner.

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