Credit Builder Program

Our Credit Builder Program was purposefully created to help our members build, rebuild, or strengthen their credit score. So no matter where you are in your financial journey, we are dedicated to finding ways for you to thrive.


How Does it Work?


Open a Credit Builder Loan

You can set the loan amount*

Make your monthly payments on time

We report your payments to the credit bureaus which builds your credit

Unlock your savings

Once your loan is paid off, your funds are available for you to use!


Credit Builder Loan

Imagine a way to build your credit score while you build your savings. That’s exactly what our credit builder loan does for you.

It’s simple. Open a Credit Builder loan and we’ll hold your loan funds and lock them in your savings account for you. You simply make 12 monthly payments to your Credit Builder loan and we’ll report your payment history to the credit bureaus. Once your loan is paid off, the original loan amount you borrowed is unlocked and now sitting in your savings account! It’s that easy. You’ve now improved your credit history and saved money.


No Upfront Costs

No application fee

No Monthly Program Fees

No monthly maintenance fees

Fixed Rate APR

6% fixed APR* regardless your credit


*The Credit Builder loan has a term of 12 months minimum amount of $300 and a fixed rate of 6% APR. The loan is secured by the loan proceeds and unavailable until the loan is paid in full. APR=Annual Percentage Rate


New to Red Canoe? Apply Here!

Apply Now

Already a member? Apply even faster.

Apply in Online Banking


How Does Your Credit Score Work?

Wanting to learn more about what goes into your Credit Score? Watch the video below, or click here to read more about what goes into your credit score.

Looking for more resources to learn about financial wellness? Watch more videos like this on our ‘It’s a Money Thing‘ page.