STUDENT SOLUTIONS credit building
BUILD YOUR CREDIT the smart way
With our credit-building options, you’ll build your score without the risk of piling up expensive debt. It’s a smarter, safer way to set yourself up for future wins.
Guided Saving
We’re not going to lie to you, putting them money we lend you behind glass is no easy feat—but if you can wait it out, it’ll be worth your while. Over the course of one year, you’ll pay fixed payments on a loan balance while your secure fund sit tight in a special locked account. At the end of the year, you'll have saved what you borrowed.
PERFECT FOR:
- Someone solely interested in credit building
- Someone interested in maximizing their savings in the long term
Instant Access
The Instant Access approach grants you immediate access to your loan amount in full. Over the year, you'll make regular loan payments out of pocket. At the end of the year, you’ll receive the amount of money you initially put into a locked account.
PERFECT FOR:
- Someone facing hefty one-time expenses
- Someone with a great deal of self-control
Slow n' Steady
If you know you need a cap on how much money you can access at once, there’s no shame in putting some guardrails in place. The Slow n’ Steady approach will allow you partial, controlled access to your secure funds so you can take care of the small, unpredictable expenses of adulthood.
PERFECT FOR:
- Someone who wants to cap their access to funds
- Someone who needs to prepare for sporadic expenses
THE breakdown
THE breakdown
You can borrow anywhere from $1,000 to $5,000. The chart below shows what it looks like if you borrow $1,000. Want to borrow more? Just ask—we’ll crunch the numbers for you.
| 1 GUIDED SAVING | 2 INSTANT ACCESS | 3 SLOW N' STEADY | |
|---|---|---|---|
UPFRONT MONEY REQUIRED |
$1,000 |
$1,000 |
$1,000 |
LOAN AMOUNT |
$1,000 |
$1,000 |
$1,000 |
MONTHLY PAYMENTS |
$87 |
$87 |
$87 |
SAVINGS BENEFIT |
Save $1,000 over the course of one year and receive the $1,000 you put up front |
None |
The amount you save is dependent upon how much you spend as funds are unlocked |
OPTION TO AUTODRAFT |
✔ |
✔ |
✔ |
CREDIT BUILDING |
✔ |
✔ |
✔ |
NO CREDIT CHECK OR INCOME VERIFICATION |
✔ |
✔ |
✔ |
APPLICATION FEE |
$20 |
$20 |
$20 |
PROS |
Helps you save $1,000 in one year |
Instant access to all of your loan money |
You receive access to a portion of your secure funds at a fixed rate on a recurring basis |
CONS |
$1,000 locked up for one year |
No extra savings |
Savings aren't guaranteed if you spend money from your secure funds |
CREDIT IS A BIG DEAL... and here's why:
CREDIT IS A BIG DEAL... and here's why:
Your credit score is sort of like your Uber rating, and it’ll follow you long after college. A good score can help you rent an apartment, purchase a car, land better loan rates, and even make you stand out to future employers. Starting now means you’ll avoid playing catch-up later—and the future you will be really glad you did.
GOOD CREDIT
Good Vibes
Lenders, landlords, insurers, and even some employers will feel a lot better about doing business with you if you have good credit. Because of this, you’ll not only have better odds of getting approved, but you’ll have higher negotiating power for lower interest rates, perks, waived fees, and more.
It Comes In Clutch
It’s always good to have good credit in a pinch. Adult life is full of unexpected expenses, and unfortunately, they aren’t always cheap. Good credit can help you get approved for whatever you need, whenever you need it. It’s one less thing to worry about!
BAD credit
It's an Ick!
Poor credit doesn’t just deter lenders from doing business with you; it can close a lot of doors. You can be denied many opportunities based on poor credit. When you do get approved, you’ll probably be required to find someone who will co-sign, which is a huge ask. Don’t make your credit other people’s problem.
It Comes In Clutch
Bad credit isn’t the end of the world, but fixing it can be a real headache. Bad credit can last for years, making it harder to recover. In addition, the few credit repair options you may receive are usually more expensive, with higher interest rates and extra fees.
GOOD CREDIT
BAD credit
Good Vibes
Lenders, landlords, insurers, and even some employers will feel a lot better about doing business with you if you have good credit. Because of this, you’ll not only have better odds of getting approved, but you’ll have higher negotiating power for lower interest rates, perks, waived fees, and more.
It Comes In Clutch
It’s always good to have good credit in a pinch. Adult life is full of unexpected expenses, and unfortunately, they aren’t always cheap. Good credit can help you get approved for whatever you need, whenever you need it. It’s one less thing to worry about!
It's an Ick!
Poor credit doesn’t just deter lenders from doing business with you; it can close a lot of doors. You can be denied many opportunities based on poor credit. When you do get approved, you’ll probably be required to find someone who will co-sign, which is a huge ask. Don’t make your credit other people’s problem.
It Comes In Clutch
Bad credit isn’t the end of the world, but fixing it can be a real headache. Bad credit can last for years, making it harder to recover. In addition, the few credit repair options you may receive are usually more expensive, with higher interest rates and extra fees.
ANY questions?
ANY questions?
We’re always available to answer any questions you may have about Student Solutions.
MEMBER SERVICES: memberservices@myaucu.org
PHONE NUMBER: 334.844.4120
Student Solutions Credit Building Loans are for students aged 18-24. A Student Solutions Checking Account is required. Loan payment can be auto-drafted from either the checking or savings account. AUCU is an equal opportunity lender and federally insured by the NCUA.