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In observance of Juneteenth, all LNB offices will be closed on Wednesday, June 19, 2024. Read More

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Credit-Builder Program

Designed to help you reach your financial goals. LNB can help you establish credit, or rebound from past credit challenges, while also starting you on the path to true wealth generation with our specially-designed Credit-Builder Program. 

How our Credit-Builder Program Works

Step One

Apply for an installment loan with LNB. Upon approval*, proceeds from the loan will be placed in a CD to secure the loan. 


Step Two

Make monthly payments towards the loan, either automatically from your LNB checking account, through online banking, or by check. There are no administrative fees for the loan, and the loan carries a low interest rate. 


Step Three

Once paid off, the loan can be renewed if you choose to stay in the Credit-Builder Program to build additional credit and assets. 


Once the loan is successfully paid off, you have acquired:

  • A verified credit history, reported to all three credit bureaus, AND;
  • A CD that you can use for a variety of purposes: 
    • A down payment on a car (with credit to get approved for a car loan);

    • A security deposit on an apartment;

    • The foundation for a down payment on a home if the ultimate goal is homeownership.


Credit Scores

Credit scores impact your ability to borrow money when needed, and also impact your ability to rent an apartment; get a cell phone; buy car insurance; and in some cases, even get a job. 

Having strong credit allows you to purchase the things you need, and also reduces the cost of borrowing. 

More than just a loan.

Financial Literacy Guidance

LNB’s Credit-Builder Program is designed to help individuals start to build credit and savings, but this is not just a loan program. We combine the loan with financial literacy guidance and education from our local banking experts, covering topics such as: 

• Credit management 

• Savings 

• Banking products & services

Additionally, we partner with Consumer Credit Counseling Services (CCCS) of Rochester to provide in-depth, one-on-one financial counseling and group financial literacy seminars.

Learn more about Consumer Credit Counseling Services.