Manchester, NH—For anyone trying to build or repair a credit history, it can be difficult to find a good starting point. That’s why St. Mary’s Bank recently introduced its Credit Builder program, which offers affordable and consumer-friendly options to help individuals in both situations.

St. Mary’s Credit Builder and Credit Builder Plus loans charge a 7.99% interest rate, well below that of most credit cards, and offer manageable repayment terms. Both also come with strong incentives to pay on time.

Credit Builder loans are unsecured loans of up to $500 to help those with little-to-no credit history start to establish credit. But St. Mary’s has added a twist to help borrowers stay on top of their loans and ensure they benefit their credit histories. When consumers repay the loans on time and according to all agreed-upon terms, all the interest paid is returned.

For those with damaged credit, Credit Builder Plus loans of up to $5,000 are available. Loans are secured with an interest-earning CD account and accumulated savings are returned to the consumer at the end of the term of the loan.

“We want to give individuals every opportunity to succeed in establishing and building their credit,” said Elizabeth Stodolski, St. Mary’s Bank Director of Marketing. “We’re pleased to offer affordable credit building loans and at the same time educate people about how credit works, what it means to repay a loan, and the affect it can have on their credit report. We realize that’s not always easy to understand. For some, it helps when there is a tangible reward, like interest back or cash savings.”

“Helping people achieve goals like home ownership and higher education is central to our mission at St. Mary’s Bank,” said Tom Champagne, St. Mary’s Bank Director of Community Outreach. “It’s difficult to achieve such milestones without first having a good credit history. These loans are tools to help people with that critical step.”

Visit www.stmarysbank.com, call 1-888-786-2791 or stop by any retail office for more details about Credit Builder and Credit Builder Plus.