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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 Re-Builder 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 have been FSU Credit Union members for 3 or more years AND employed with their present employers for 3 or more years.

How do I apply for a Credit Re-Builder Loan?

  1. Pick up a Credit Re-Rebuilder package from any FSU Credit Union location.
  2. Take loan packet home and read it thoroughly. Answer the 25 questions on the Credit Re-Builder questionnaire.
  3. Complete and sign the Affidavit of Employment form. Remember that this form must be signed by your supervisor.
  4. Complete and sign the Loan Application. Loan MAXIMUM limits are as follows:
    • *3 years on the job, 3+ years FSU Credit Union member = $1,000
    • *4 years on the job, 4+ years FSU Credit Union member = $1,500
    • *5 years on the job, 5+ years FSU Credit Union member = $2,000
      *Other restrictions may apply as governed by 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.
  1. Your packet must contain a pay stub no older than 30 days.
  2. Return the packet to either our Campus Branch on West St. Augustine Street or our University Branch on Tennessee Street.

FSU Credit Union’s Credit Re-Builder Program is designed to benefit members in four ways:

  1. Providing a source of credit that may not be available elsewhere without the member’s paying extremely high interest rates.
  2. Providing a way to correct current or past credit problems, thereby re-establishing a creditworthiness over time, through a specific, step-by-step process.
  3. Reducing the member’s interest expense through time, by helping the member re-establish a favorable credit score.
  4. Allowing the credit union to help you help yourself.