Repair My Credit

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Fresh Start Loan Program

Need to build or rebuild your credit? We can help.

The Inspire FCU Fresh Start Program is designed to help you rebuild or establish a positive credit history without charging you outrageous fees or interest rates.

Fresh Start Saver Loan

This loan program can help you accomplish two goals –

  • Repair or establish your credit
  • Establish savings (for a rainy day, a down payment on a vehicle, or another major expense)

Here's how the loan works:

  • Select the amount you wish to save (see chart)
  • These funds are secured (on hold) in a special Inspire FCU savings account
  • Pay the loan back over a 12-month term
  • Make your payments on time
  • Your positive payment history is reported to the credit bureaus
  • When you have repaid the loan in full, you will have access to the funds which have been on hold in your special savings account.
Loan AmountRate (APR)Term (months)Payment Amount
$500 10% 12 $43.97
$1,000 10% 12 $87.94
$2,000 10% 12 $175.87

Since this loan is secured by the funds we place in an account on your behalf, your credit history is not considered in the approval process. Should you decide to cancel the loan or if you become delinquent, we will close the loan and return the principal payments you made back to you. This will be done the day before the loan is considered 30 days delinquent, so no negative payment history will be reported.