In the world of personal finance, building a strong credit history is vital for achieving various financial milestones. Whether you’re looking to buy a home or want to start building credit, a good credit score paves the way for your future financial journey.

A Credit Builder Loan is designed specifically to help individuals build or rebuild their credit history. Unlike traditional savings or checking accounts, a Credit Builder Loan can promote financial responsibilities while contributing positively to your credit score.


  1. Establish & Improve Credit Score
  2. Build Up Savings
  3. Credit Reporting

Credit Builder Loans are accessible to individuals with limited to no credit history and can be opened with an Individual Taxpayer Identification Number (ITIN) to help immigrants who do not have a Social Security Number (SSN) start building credit to achieve these financial milestones.

How It Works

  1. When you open a Credit Builder Loan at Drake Bank, you’ll deposit a specific amount of money into your account to determine your credit limit.
  2. Monthly payments are made towards your loan. This will help establish a positive payment history and contribute to an improved credit score over time.
  3. Unlike credit cards or loans, a Credit Builder Loan allows you to build credit without taking on debt. This makes it a safer and more controlled approach for individuals wary of traditional credit products.
  4. The money deposited in the account also serves as savings that you can access once the term is complete.

Interested in a Personal Credit Builder Loan? Visit our website or contact our team to start building your credit and savings through a secured builder loan today.