Get Credit

There are no application fees or upfront payment requirements. During the enrollment process, you’ll select the amount you can afford each month ($45, $90, or $135), set up your account and loan payments, and sign the documents. That’s it! We’ll provide your payment due date during the enrollment process, which is approximately 30 days later.

Get Credit is a 12-month program that allows you to build your credit score and your savings all at once. You pick the amount to save, and we’ll set you up for success. Here’s how it works:

• We lend you money and lock it into a safe account. Each month, you make set payments (based on how much money you borrowed) to pay yourself back.
• With every on-time payment you make, your credit should improve.
• After making all your payments on time, you’ll accumulate savings and improve your credit at the end of the program.

It’s that simple. No down payment. No monthly fee. No high-interest credit card debt. Start your Get Credit journey with our short, 3-minute enrollment today.

Enrollment in the Get Credit program is available through our Digital Application. Our branch staff will happily assist with completing the application in person, if preferred.

Members may only open one Get Credit loan per person. We encourage you to select the highest loan option ($1,510) to maximize your savings at the end of the program.

Yes. If you pay each monthly installment on time, that positive payment history will impact your score. Alternatively, if you do not pay on time and let the account stay dormant, that will also be subject to credit bureau reporting and negatively impact your score. If you are unable to make payments, simply close the account by calling 1.800.923.7280.

When you join a Credit Union, you are becoming a member/owner of that financial institution. Your ownership, or share, comes in the form of a savings account. By opening a savings account with a minimum of a $5.00 deposit, you’re officially a member/owner of Marine Credit Union! You cannot take part in other products until you have a share savings account.

A FICO® score is a 3-digit number that summarizes your credit risk. It is calculated from information on your credit report, which is provided by the credit bureaus. FICO® scores help financial institutions understand the level of risk they would undertake by loaning money to someone. Learn more about credit scores here.

We provide updated credit scores every three months on our free mobile app. Download the Marine app in your Google Play store (for Android devices) or the App Store (for Apple devices).

The Marine Mobile Banking app will show you the top two reasons why your credit score is listed as it is. This score is updated every three months, so be sure to check the date of the most recent update to see if it’s recent. Additional information on how credit scores are calculated can be found by clicking the “education link” by your credit score. You can find more information about how credit scores are calculated by clicking here.

Between all three credit bureaus, there are many FICO® scores used by lenders. Scores differ based on the data collected and how the information is stored. You can learn more about the different FICO® scores available by clicking here.

There are a lot of factors that go into your credit score and understanding what is a “good” score can be subjective. Learn more about credit scores, including how they are calculated, by visiting the FICO website here.

There are many factors that impact a credit score; making on-time monthly payments to a loan is one way to give it a positive boost.

While there’s no way to predict exactly how much your score will be impacted by Get Credit, we do provide free FICO® updates on the Marine Mobile Banking app (which is also free to download and use) so you can periodically check your score. This will include education on the key factors effecting your score. Certain events like late or missed payments on your Get Credit loan, or other bills, can lower your FICO® score quickly, so be sure to keep this in mind when committing to the Get Credit program. The easiest way to avoid missed payment blunders is to set up free auto payments. Talk to a member of the MCU team to learn more!

When you enroll in Get Credit, a full credit report is pulled from TransUnion. This happens with all credit inquiries, like opening a credit card or a car loan. When a credit report is pulled, scores can decrease slightly, at first. But don’t worry – with on-time payments, this will bounce back soon!

Your due date and payment amount will be provided near the end of the Get Credit enrollment process. The due date is typically 30 days after the enrollment date, but be sure to write down the exact date when you’re completing the enrollment. You’ll also receive this information in the loan documents that will be available to download after you electronically sign your paperwork.

Our team is here for you! If you think you’re going to miss a payment, call or stop into your local branch to talk to a member of our team.

Missing a payment can have a negative impact on your credit score. After 10 days of no payment, a $10 late fee will be added to your account. We know things happen, and our goal is to get you on the right track to a better credit score and financial future. Give us a call if you are having trouble making your payments.

Tip: Avoid missed payment blunders by setting up free, automatic payments from your checking account!

Once you have paid off your Get Credit loan, the full loan amount (minus any fees incurred throughout the program, if applicable) will be transferred to your savings account.