Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Loans Alltru Credit Union Review 2025: Credit Builder Loan Details, Rates, and Eligibility Updated Jul 18, 2025 5-min read Reviewed by Jackie Lam, AFC® Reviewed by Jackie Lam, AFC® Expertise: Money management, personal loans, banking, insurance, credit, taxes Jackie is a Los Angeles-based freelance writer specializing in various personal finance topics from money management to credit and insurance. An accredited financial counselor (AFC®), she works with artists and freelance creatives. When not writing, you can find her swimming, hiking, or playing the drums. Learn more about Jackie Lam, AFC® 3.8 /5 View Rates Our take: The Alltru Credit Builder loan is a decent product, but its availability is quite limited. We recommend considering more flexible and higher-rated alternatives, like Self, Chime, or Kovo, which offer nationwide availability and stronger user benefits. Credit Builder Loans Borrow $300 – $2,000 Payments held in a savings account and reported to credit bureaus 12% APR, with 50% interest refund for on-time payments Must live, work, worship, or attend school in the St. Louis region Up to $25 late fee Loan range$300 – $2,000Rate (APR)12%Monthly payment (est.)$26.65 – $88.85Repayment termUp to 24 monthsTotal costVaries by loan size and interest refundCredit reportingEquifax, Experian, TransUnionApplicationOnline or in-person; hard credit pull required The Alltru Credit Union Credit Builder Loan helps you improve your credit while setting aside savings. With a fixed 12% rate and a 50% interest refund for on-time payments, it’s best suited for borrowers in the Greater St. Louis area. But if you’re outside that region or want more flexibility, alternatives like Self® or Chime® may be a better fit. Table of Contents How the Alltru Credit Builder loan works Eligibility and application Rates, loan amounts, and terms Does it help build credit? Pros and cons Alternatives vs. Self vs. Chime vs. Kovo FAQ How the Alltru Credit Builder loan works Credit builder loans are designed to help you build or rebuild credit. Instead of giving you the loan funds upfront, Alltru holds the money in a savings account as collateral. You make monthly payments, and once the loan is fully repaid, you receive the funds. What makes the Alltru Credit Builder Loan stand out is its interest refund benefit: You get 50% of your interest refunded if you make all payments on time. Eligibility and application process To qualify, you must be a member of Alltru Credit Union, which serves the St. Louis metro area. You’re eligible for membership if you: Live, work, worship, or go to school in the City of St. Louis, St. Louis County, or St. Charles County Are related to a current Alltru member You can apply online or in person. A hard credit check is required, which may reduce your credit score by about five to eight points. Alltru will also verify your identity using public records and consumer data sources. Rates, loan amounts, and terms The Alltru Credit Builder Loan offers the following terms: Loan range$300 – $2,000Rate (APR)12%Monthly payment (est.)$26.65 – $88.85Repayment termUp to 24 months Your exact payment depends on the loan size, and how much interest you ultimately pay will be reduced if you qualify for the 50% refund. Does Alltru help build credit? Yes; this loan is built for credit building. Alltru reports your monthly payments to Equifax, Experian, and TransUnion, the three major credit bureaus. That helps you build a positive credit history, which makes up 35% of your credit score. To get the most out of it: Make on-time payments each month Avoid late fees (up to $25) Complete your full repayment term to get 50% of your interest refunded Also, remember that credit mix and length of credit history matter, too. Consider adding other credit types over time, and review your credit report regularly at AnnualCreditReport.com. Pros and cons Pros Loan proceeds go into a savings account Get a 50% refund on interest with on-time payments Payment assistance or plans are available Cons APR is relatively high Only one repayment term (12 months) Only available to Alltru Credit Union members in the Greater St. Louis area Alternatives Self vs. Alltru Credit Union Self® and Alltru Credit Union both offer credit builder loans, but they differ in flexibility and availability: FeatureSelfAlltruAvailabilityNationwideOnly in Greater St. Louis (MO)Loan amounts$520 – $1,800+$300 – $2,000Term options12 or 24 monthsUp to 24 monthsAPRVaries, starting around 15.92%Fixed 12%Savings feature✅✅Reports to credit bureaus✅ All 3✅ All 3Interest refund❌✅ 50% refund for on-time paymentsCredit check❌ No hard pull✅ Hard credit pull required Bottom line: Choose Self® if you want a flexible, no-credit-check loan available nationwide. Alltru is best for St. Louis residents who want a lower fixed rate and a partial interest refund. Alltru vs. Chime Chime® Credit Builder Visa® works more like a secured credit card, while Alltru’s product is a fixed installment loan. Here’s how they compare: FeatureChimeAlltru Credit UnionProduct typeSecured cardCredit builder loanCredit check❌ No credit check✅ Hard pullAvailabilityNationwideSt. Louis metro area onlyReports to credit bureaus✅ All 3✅ All 3Requires deposit?Yes (security deposit)No upfront deposit (funds held in savings)Interest refund❌✅ 50% refund for on-time paymentsAdditional perksDebit card, early pay, no feesRegional branch support only Bottom line: Chime is ideal if you prefer a revolving credit line and nationwide access. Alltru is better for borrowers in Missouri who want a structured loan with savings built in. Alltru vs. Kovo Kovo offers small installment loans with credit-building features and no credit check, making it a good fit for newer borrowers. Here’s how it compares to Alltru: FeatureKovoAlltru Credit UnionLoan sizeUp to ~$240$300 – $2,000Credit check❌ No credit check✅ Hard credit pullReports to credit bureaus✅ All 3✅ All 3Interest refund❌✅ 50% for on-time paymentsCredit monitoring✅❌EligibilityOpen to all U.S. residentsLimited to MO region (St. Louis area) Bottom line: Kovo is ideal if you want a low-cost, no-credit-check way to start building credit. Alltru works better if you want a larger loan and are eligible to join. FAQ Does Alltru require a credit check? Yes, Alltru conducts a hard credit pull when you apply for its credit builder loan. This may cause your credit score to drop by a few points. If you’re looking for a no-credit-check option, consider Self®, Chime®, or Kovo instead. Can I apply for Alltru if I live outside Missouri? No, Alltru Credit Union membership is limited to individuals who live, work, worship, or go to school in the City of St. Louis, St. Louis County, or St. Charles County in Missouri. You can also qualify if you’re related to a current member. Is the Alltru credit builder loan worth it? It can be, if you live in the St. Louis area and want a low-interest, savings-focused credit builder loan. The 12% rate and 50% interest refund make it attractive for local borrowers. But if you want broader access or more digital tools, Self, Chime, or Kovo may be better options.