ScoreUp® Credit Builder Loan

Establish or re-build a positive credit history and score while saving.

Competitive Rate

Fixed low rate at 5.50% APR1

Choose Loan Amount

From $500 to $5,000

Flexible Term

From 6 to 36 months

Thumbs up for ScoreUp

Our ScoreUp Loan is here to help if you have no credit, little credit or may need some help improving your credit score. By making manageable monthly payments on-time, you’ll be establishing a positive credit history, while also growing your savings.1

Here’s how it works:

  1. Apply for a loan amount with a manageable payment and keep your savings goal in mind. (Your loan amount will be the amount you’ll end up saving.)
  2. Choose how many months you want to pay off the loan.
  3. Each payment builds your credit history and your savings.
  4. Get your money after paying off your loan. You can check your current credit score with one of the three credit bureaus.
  5. Apply for another ScoreUp Loan if you want to do more to build your credit and grow your savings.

Product Benefits

Establish or rebuild your credit

Apply with little or no credit history, no cosigner required

Get the right loan amount on your terms

Choose a payment term that works for you to pay off the loan – from 6 to 36 months

No fees and low rate

No fee to open or set up the loan and a fixed low rate at 5.50% APR1

Help grow your savings

Loan proceeds are deposited into a ScoreUp Savings Account and will be available when loan is paid in full2

ScoreUp Loan Rate

Rates Effective 02/16/2023

Term

Amount

APR1
Up to 24 months $500 to $2,500 5.50%
Up to 36 months $2,501 to $5,000 5.50%

Get the right loan amount, on your terms

Frequently Asked Questions

Let’s have a conversation

At Patelco, we put your financial wellbeing first and provide free financial coaching with a Patelco Certified Financial Specialist. Your financial specialist can help you create a personalized strategy so you can feel in control of your money and track your progress.

It’s a great way to kickstart your ScoreUp plan today.

Request an Appointment

Thumbs up for ScoreUp

Our ScoreUp Loan is here to help if you have no credit, little credit or may need some help improving your credit score. By making manageable monthly payments on-time, you’ll be establishing a positive credit history, while also growing your savings.

Continued Reading

October 26, 2021

What Is a Credit Score?

Confused about your credit? Get the facts on what it is, what lenders consider a good credit score, how to check your score, and how to maintain a good credit history.

October 29, 2019

How to Maximize & Manage Your Budget

Learn why and how you should do a budget review to keep your budget realistic. Find important questions to ask to help you manage your budget and stay on track!

October 27, 2021

How to Check Your Credit Score and Get a Free Report

It’s important to monitor your credit. Find out how to check your credit score, get a free report and what to look for on your credit report from the reporting agencies.
Unlock your goals with ScoreUp
By making manageable monthly payments on time, you’ll be establishing a positive credit history, while also growing your savings.
Make Appointment Unlock your goals with ScoreUp

1 APR (Annual Percentage Rate). All loans are subject to credit approval, restrictions apply, rates are subject to change. Loan rate of 5.50 effective 02/16/2023. Patelco offers a range of base rates and discounts that depend on factors such as credit type, credit history, loan term, and Patelco account relationship. Actual rates are disclosed to approved applicants in writing prior to loan consummation. The ScoreUp savings account is used as collateral for your ScoreUp loan. As of 02/16/2023 the APY (Annual Percentage Yield) for of the ScoreUp savings account is 0.05% and is subject to change without notice. Example, if you receive a loan of $2,500.00 with an interest rate of 5.50% with no origination fee and make 18 monthly payments of $145.29, your finances charges will be $115.06, which would make your total repayment amount $2,615.06. After successful repayment of the loan, the balance in the ScoreUp savings account (which includes the interest earned) will be disbursed to the borrower. After 25 days delinquent the ScoreUp Loan will automatically close and the funds in my pledged account will be applied to settle my loan.

2 Automatic funds transfer from a Patelco checking, savings or money market account is required.