Credit Builder Loans

Boost your credit while building savings

Having a good credit score is important. Your credit score can impact whether you are approved for financing, and what your rate will be, housing opportunities, potential job offers, and more.

At Webster First, we’ve focused on making the right financial decisions for over 90 years, and our commitment is to help you do the same. Our Credit Builder loans offer you an opportunity to establish or improve your credit while building savings, laying the groundwork for a good financial bill of health.

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Build or repair your credit

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Build credit

If you’re just starting out, get off on the right foot and start building your score.

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Repair credit

If your score needs a little TLC, help repair damaged history.

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Flexible options

A variety of terms available to fit your needs, with loan amounts from $500 – $5,000.

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Build your savings

Loan funds are held in a certificate while payments are made, growing savings for future use*.

How it works

Our Credit Builder Loan isn't traditional, in the sense that you won't get the funds right away. Instead, you'll build your credit by making regular payments, while the loan funds are safe in a certificate.

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After approval, a certificate is opened on your behalf for the amount of the loan.

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Each month, your loan payment goes towards "purchasing" your certificate.

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Once paid off, the proceeds of the certificate, along with the interest it earned during the life of the loan, is yours!

How the Credit Builder Loan can improve your score

Credit scoring systems look at hundreds of factors like how long your accounts are open, on time payments, and whether there are serious delinquencies like late payments.

Your on time credit builder loan payments work to create positive history. If you are just starting out, this will show creditors you are responsible and can be trusted to pay debts back. If you’ve got some past missteps to correct, this can help show lenders that you’ve made improvements and are more trustworthy than before.

Why your credit score is important

Your credit score impacts everything from whether you are qualified for a loan to what interest rates you pay. A higher score means you are more likely to be approved and pay lower interest rates, saving you money. A lower score can result in higher loan rates, or even in denials for credit.

You may go to and request a copy of your credit report once a year for free. Monitoring your credit regularly helps you catch and resolve any errors and ensure you’re on the right track.

How can we help?

Our dedicated Loan Officers are here to answer your questions. Contact your local branch for a loan expert right around corner.

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Award-winning service

Webster First Rated 5 Stars by Bauer June 2023

Rated 5 Stars by Bauer

2022 Top Lender: Banker & Tradesman

2022 Winner: Best of Central Mass

Why choose Webster First?

Smart money decisions are in our DNA

Webster First is one of the most well capitalized credit unions in Massachusetts as a result of our hard work and determination to make the best possible financial decisions. With our experience and dedicated team, we’re confident we can help you make the right financial decisions too.

Local, neighborly know-how

Our roots are in Massachusetts, opening our first branch in the small town of Webster back in 1928. Since then we’ve grown to over $1.2 billion with over 80,000 members who trust us with their banking. Since our lending

Authenticity you can trust

As New Englanders, we believe in being upfront and honest. You can expect straightforward answers to all your mortgage questions. Each relationship starts with trust and it’s the cornerstone of our acclaimed member service.

*Proceeds will be put into a certificate for the same term as the loan. The full original amount of the loan will be held until the loan is paid off. No withdrawals can be made from the certificates (even with penalty) unless the loan is paid in full.