A member can start with as little as a $500 loan. The funds to secure this loan are put into the member’s savings account and pledged or frozen for the life of the loan. When payments are made on time and in full, this information is given to the credit bureaus. Over time, a new credit score is calculated and the new information is indicated on the credit bureau report. At the end of the loan period, the member has $500 which can be withdrawn or re-pledged for another loan to continue rebuilding good credit. Ask any credit union staff person about this type of loan and how it can help you.