Credit Rebuilder
What is a Credit Re-Builder?
FSU Credit Union’s Credit Re-Builder Loan Program was developed to allow members with a colorful credit history to access credit and demonstrate their ability to repay, thereby rebuilding a positive credit rating.
Who is eligible for a credit rebuilder loan?
The program is made available to those members who have demonstrated loyalty to our organization and their employer. In order to receive this loan, applicants must be a member for 3 or more years AND employed with their present employers for 3 or more years.
How do I apply for a credit rebuilder loan?
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Pick up a Credit Rebuilder package from any of our locations.
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Take the loan packet home and read it thoroughly. Answer the 25 questions on the Credit Re-Builder questionnaire.
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Complete and sign the Affidavit of Employment form. Remember that this form must be signed by your supervisor.
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Complete and sign the Loan Application. Loan MAXIMUM limits are as follows:
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*3 years on the job, 3+ years GPCE Credit Union, a Division of FSU Credit Union member = $1,000
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*4 years on the job, 4+ years GPCE Credit Union, a Division of FSU Credit Union member = $1,500
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*5 years on the job, 5+ years GPCE Credit Union, a Division of FSU Credit Union member = $2,000
*Other restrictions may apply as governed by GPCE Credit Union, a Division of FSU Credit Union lending policy. If you have borrowed unsecured money within the last eight months, you are not eligible for the credit re-builder at this time.
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Your packet must contain a pay stub no older than 30 days.
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Mail or return the packet to our credit union Campus Branch located at 834-1 West St. Augustine Street, Tallahassee, FL 32304.
FSU Credit Union's Rebuilder Program is designed to benefit members in four ways:
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Providing a source of credit that may not be available elsewhere without the member’s paying extremely high-interest rates.
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Providing a way to correct current or past credit problems, thereby re-establishing creditworthiness over time, through a specific, step-by-step process.
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Reducing the member’s interest expense through time, by helping the member re-establish a favorable credit score.
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Allowing the credit union to help you help yourself.