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Build Towards a Stronger Financial Future
Whether you're rebuilding credit, starting fresh, or working to improve your financial situation, the Credit Advantage Loan is designed to help you move forward with practical support and a path towards stronger financial habits.
Program Highlights
- Loan amounts from $500 to $2,500
- Fixed 10.00% APR*
- Terms of 12, 18, or 24 months
- Half of the loan amount placed into a Certificate of Deposit (CD)1
- No origination fee
- Completion of a financial education course is required prior to funding
- Customers without an established credit score may qualify for a $500 loan option
- CD funds will become available once the loan is paid in full
Financial Education Included
Customers must complete a financial education course through United Bank's Financial Focus program prior to loan funding. 2
*APR = Annual Percentage Rate. Subject to credit approval and underwriting criteria. Credit Advantage Loans available from $500 to $2,500 with terms of 12, 18, or 24 months and a fixed 10.00% APR. Half of the approved loan amount will be deposited into a Certificate of Deposit (CD) and held until the loan is repaid in full. Financial education course completion required prior to funding. Customers without an established credit score may only qualify for a $500 loan option. Loan proceeds may be payable directly to third parties. Example: A $2,500 loan at 10.00% APR for 24 months would result in 24 monthly payments of approximately $115.36. Actual terms and payments may vary. See bank for details.
1Qualifying participants are eligible to receive half of the loan amount, with the other half being deposited into a CD. The term of the CD should match the term of the loan. A hold will be placed on the CD until the loan is repaid. Part of the program design is that once the loan is repaid the participant has created a savings account.
2In order to receive a Credit Advantage loan with United Bank, participants will be required to complete a financial education course through Financial Focus, United Bank's online financial education platform. Click Here for Financial Focus' Building Financial Capability playlist. Financial Focus provides an interactive financial education experience which is available 24/7 for participant ease of use. Customers are limited to three Credit Advantage loans. The loans can be concurrent as long as the borrower has completed the required financial education course, paid off the preceding loan in full, and still meets the debt-to-income requirement. Participants needing more than three loans will be required to attend additional financial education courses.
2In order to receive a Credit Advantage loan with United Bank, participants will be required to complete a financial education course through Financial Focus, United Bank's online financial education platform. Click Here for Financial Focus' Building Financial Capability playlist. Financial Focus provides an interactive financial education experience which is available 24/7 for participant ease of use. Customers are limited to three Credit Advantage loans. The loans can be concurrent as long as the borrower has completed the required financial education course, paid off the preceding loan in full, and still meets the debt-to-income requirement. Participants needing more than three loans will be required to attend additional financial education courses.