Clients who are first-time borrowers, or who may have damaged credit, often need a way to "get started" or "start over." A credit-builder loan places your loan proceeds in a Chemung Canal certificate of deposit. You then repay the loan in installments. When the CD matures, you receive the proceeds plus the accrued interest. It's a great way to establish a credit history or repair one that's been damaged. Contact us for more information.