Best Credit Builder Loans in Michigan

Published: 5 April 2024

Author: Noah Gomez 

Finding any loan is difficult, but finding the right credit builder loan is more challenging because they're only available at select institutions. Moreover, many national offers propose worse terms than your local credit union.

In Michigan, local credit-builders abound, and we looked at over 44 banks, credit unions, and digital lenders to find the most cost-effective and reliable offers on the market.

Best Overall

Genisys Credit Union

Avg. Principal: $3,000
Avg. APR: 5.99%
Avg. Length: 36 months

At just 5.99%, Genisys' credit-builder APR below the national average and available for durations ranging 12 to 36 months, which provides a uncommon amount of flexibility for loan ranges between $1,000 and $5,000.

Most importantly, Genisys Credit Union's credit builder, unlike most CUs, is available in every county across the state. This means Michiganians don't need to hunt long. If they live in Berrien, Cass, Macomb, or Oakland counties, everwise Credit Union (see below) is the only real local competitor.

Best from Bank (Physical)

Isabella Bank

Avg. Principal: $1,000
Avg. APR: 10.5%
Avg. Length: 18 months

Best from Credit Union

Genisys Credit Union

Avg. Principal: $3,000
Avg. APR: 5.99%
Avg. Length: 36 months

Best from Digital Lender


Avg. Principal: $252
Avg. APR: 2%
Avg. Length: 12 months

Best Michigan-Only Credit Builder Loans

Best Multi-State Credit Builder Loans Available in Michigan

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