Yes, Digital Federal Credit Union offers credit-builder loans. Digital Federal Credit Union has credit-builder loans of $500 - $3,000 with an APR of 5% and repayment periods of 12 - 24 months. To apply for a credit-builder loan from Digital Federal Credit Union, you need to be a member of Digital Federal Credit Union, be 18 or older, and have a Social Security number.
With a credit-builder loan, Digital Federal Credit Union puts a sum of money into an interest-bearing account for the “borrower.” That person then pays the lender in monthly installments, plus interest, and receives the money in the savings account at the end of the loan term.
Digital Federal Credit Union also offers other options to improve your credit if you think a credit-builder loan isn't right for you, like credit cards or personal loans.