MTEFCU is now Breakwater Federal Credit Union

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Credit Programs

Are you looking to take out your first loan but are overwhelmed by how it all works? Maybe you already have some credit history but are looking to improve your score so you can get lower loan rates in the future. Whatever your personal credit circumstances, we’d like to help you achieve your goals.

 

 

First Loan Program

We highly recommend our members who have never had a loan before (or who no longer have a credit score) to enroll in this program prior to taking out your first loan.  To enroll, schedule an appointment with a loan officer or stop by the credit union for a walk-in appointment. 

When you enroll, you will receive a copy of our book “All About Credit” and a program folder with a self-guided outline of what you need to do to complete the program.  

What’s in it for you?  Besides having the knowledge and confidence about how to handle credit responsibly, completion of the program means your consumer loan processing fee will be waived, plus you will qualify for the next tier of our risk-based pricing* (a lower interest rate than what we would usually provide to someone with no credit history).

 

 

Credit Improvement Program

If you have a derogatory credit score and history, this program was created to help you learn how to improve your score!  To enroll, schedule an appointment with a loan officer or stop by the credit union for a walk-in appointment. 

When you enroll, you will receive a copy of our book “All About Credit” and a program folder with a self-guided outline of what you need to do to complete the program.  

What’s in it for you?  Besides having the knowledge and confidence about how to handle credit responsibly in the future, completion of the program means your consumer loan processing fee will be waived, plus you will qualify for the next tier of our risk-based pricing* (a lower interest rate than what you would have received prior to completing the program).

 

 

*Incentives must be redeemed within 60 days of the loan officer running your credit for the program.  If you do not complete the program within 60 days of the initial program appointment with your loan officer, a second credit run may be required in order to grant you a loan and redeem the incentives. 

Closure notice

We will be closed Thursday, July 4 in observance of Independence Day and apologize for any inconvenience to our members.

Remember, you can perform most of your banking business via our mobile app or the two 24/7 deposit ATMs in our drive-thru!