 TITLE: Everything You Need to Know About Credit-Builder Loans CONTENT: Where to Get a Credit-Builder Loan\n----------------------------------\nYou likely won't find a credit-builder loan at a large national financial institution, if that's where you do most of your banking. Instead, try these options:\n*   **Credit unions**: Many credit unions offer credit-builder loans; search your local institutions' websites to see your options. You'll need to become a member of the credit union to get a loan, and you'll qualify based on characteristics such as where you work or where you live. To join, you'll pay a small membership fee or donate to a partner charity.\n*   **Community banks**: These locally owned banks may also offer credit-builder loans, and have a similar focus on financial education as credit unions. Search for a community bank near you using the Independent Community Bankers of America's search tool.\n*   **Online lenders**: Self Financial offers online credit-builder accounts, which are similar to credit-builder loans in that borrowers make monthly payments toward a savings account. You'll pay a one-time fee of $9 to $15 to sign up, depending on the loan balance.\n*   **Lending circles**: Peer groups can help each other build credit using lending circles, which offer interest-free loans usually facilitated by a community organization. The group decides on a monthly payment and loan balance, and each member pays the same amount per month to a central fund. Every month, one member receives a loan in the agreed-upon balance. In the meantime, monthly payments are reported to the three credit bureaus. One way to look up lending circles in your area is by using the nonprofit Mission Asset Fund's database. END