other loans
Need to build or rebuild your credit? A new appliance or furniture? Money for travel expenses? BlueOx Credit Union has a variety of financing options for every purpose and situation.
credit builder loan
Do you need to establish credit or improve your existing credit? Consider a credit builder loan, which acts as a “starting block” or a restart for those who may have difficulty qualifying for loans, given their current circumstances or past difficulties.
The loan employs a multi-step approach and includes financial counseling by our staff to ensure positive progress. The first step involves a loan of $1,000 for a twelve-month term.* Although borrowers may be tempted to pay it off early, we recommend continuing to make payments for 12 months to establish a good pattern of on-time, full payments. Then, once the first loan is repaid, the second step is a loan of up to $2,000 at a lower interest rate. This time, the term can be extended up to 24 months. Once these steps are completed successfully, borrowers will likely have the ability to obtain other types of loans at very competitive interest rates.
share or certificate pledge loan
Another option for building credit or simply securing a loan at a competitive interest rate is a Share or Certificate Secured Loan. Members can pledge funds already on deposit in a Share Account or Certificate as collateral to secure their loan at a competitive interest rate.
*Rates shown are meant to serve as examples, not as an offer. For details, contact us at (800) 648-8035. Rates are subject to change without prior notification. Payment Example: 18.00% APR for 12 months equals $91.73 for $1,000 borrowed. 15.00% APR for 24 months equals $97.04 for $2,000 borrowed.
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