Everyone has to start somewhere. Whether you're building credit for the first time or trying to repair your credit, there are options for you. La Cap has checking and loan products designed to help you build a credit history and help you get where you want in life.
Opportunity Checking
With Opportunity Checking,1 you can access your money when you need it. This account provides you with a debit card, free withdrawals at La Cap ATMs, and a consistent monthly service fee.
Minimum opening balance: $25.00 Monthly service fee: $8.00
Direct deposit is required within 30 days of account opening and must be maintained for the life of the account.
Future Share Loan
If you need to build or repair credit or have difficulty saving money, a Future Share Loan2 could help. When you request this type of loan, you make monthly payments according to a payment schedule. Timely payments are reported positively to the credit bureau. The funds are set aside and held until you have made all of your payments and the loan is paid in full. Then, you receive the funds.
Minimum loan amount: $200.00
Maximum loan amount: $1,500.00
Minimum monthly payment: $50 (no prepayment penalty)
Call 800-522-2748 for details.
Share Secured Visa Credit Card
If you've already begun to build or repair your credit and had some success, it may be time for the next step. A share secured credit card3 can help build your credit further while providing convenient access to funds. This card requires that you put funds on deposit to be held as collateral. The credit limit is based on the funds you put on deposit.
Minimum limit: $500.00
Annual fee: $25.00, waived the first year
Disclosures
1 La Capitol FCU Opportunity Checking. Membership is required and subject to approval. Membership requires a $5.00 par balance in a primary savings account. Opening deposit is $25.00 and this not a dividend earning account. An $8.00 monthly service charge will be assessed. For accounts who have not consented to receive statement electronically a $2.00 checking paper statement fee will apply. The following restrictions apply to the Opportunity Checking Account and its partnered primary savings account Courtesy Pay, Shared Branching services, Wires, Deposits through an ATM or Remote Deposit, Online or Mobile External Transfers, Bill Pay, and check printing services through La Cap’s checking printing partner.
2 Future Share Loan is subject to approval. Membership required with $5.00 par balance in primary savings account and subject to approval. Credit is extended based on the secured money in a Future Share Savings account equal to the Future Share Loan. The funds must remain until the loan is paid in full. The Future Share Loan cannot be less than $200.00 or exceed $1,500.00. The rate is fixed. The payment will not be less than $50.00 per month. Additional limitations, terms and conditions may apply.
3 Visa Share Secured Credit Card is subject to approval. Membership required with $5.00 par balance in primary savings account and subject to approval. The Visa Shared Secured Credit Card is a variable rate, based on your creditworthiness, and will vary with the market based on the U.S. Prime Rate. There is a $25.00 annual fee after the first year. Credit is extended based on the secured money in a Visa Share Secured Savings account equal to the Visa Shared Secured Credit Card credit limit. The Visa Share Secured Credit Card cannot be less than $500.00 or exceed $15,000.00. Additional limitations, terms and conditions may apply.