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This CU has the right idea


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I called a new CU about an installment loan.

They have a credit builder loan.

They deposit the loan amount into your savings account. They put a hold on the money.

It is not an unsecured loan and appears as a regular installment loan on your tradeline for the loan amount.

When you make a payment that much is released. You can withdraw immediately the amount you paid.

No savings needed for an secured loan and no risk to the CU and the borrower gets a TL. :)

Why don't more places do this?

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