LayAway-Credit Inc. is a financial technology company, not a bank, designed to help individuals save for a major purchase, such as a home down payment, while simultaneously building their credit history. Customers enroll in a program where they make regular monthly payments into a locked savings account for a set term. The company reports these on-time payments to the credit bureaus Equifax and TransUnion as a credit-builder loan, helping users improve their credit scores. At the end of the term, the customer receives their accumulated savings.

Founded in

United States