One of the great benefits provided by Metco Credit Union is the helpful SavvyMoney finance tool, which instantly provides a financial assessment, invaluable budgeting tips and more, all in a user-friendly format. Staying on top of your credit has never been easier.
Monitoring your credit score is essential for maintaining financial health, protecting yourself from identity theft and fraud, and making informed decisions about credit and loans. Your credit score reflects your creditworthiness and financial health. By monitoring it regularly, you can gain a better understanding of your financial standing and how lenders perceive you. It also allows you to spot any potential issues or discrepancies early on, giving you the opportunity to dispute errors and take action against fraud promptly.
With SavvyMoney, you can access your credit score, full credit report, credit monitoring, financial tips, and education. All of this without impacting your credit score. At Metco Credit Union, our goal is to empower our members to improve their financial well being. Enroll today and take control of your financial future.
Available ANYTIME and ANYWHERE, completely FREE – simply login to Online Banking or our Mobile app and enroll!
When logged in to Online Banking:
1) Click on the “Credit Score & Report” box on right
2) Accept the terms & enjoy!
When logged in to our Mobile app:
1) Click on the 3 horizontal lines in the upper left
2) Click on “Credit Score”
3) Accept the terms & enjoy!
SavvyMoney is a comprehensive Credit Score program offered by Metco Credit Union that helps you stay on top of your credit. You get your latest credit score and report, an understanding of key factors that impact the score, and can see the most up to date offers that can help reduce your interest costs. With this program, you always know where you stand with your credit and how your financial institution can help save you money.
Credit Score also monitors your credit report daily and informs you by email if there are any big changes detected such as a new account being opened, change in address or employment, a delinquency has been reported or an inquiry has been made. Monitoring helps users keep an eye out for identity theft.
SavvyMoney Credit Report provides you with all the information you would find on your credit file including a list of open loans, accounts and credit inquiries. You will also be able to see details on your payment history, credit utilization and public records that show up on your account. Like Credit Score, when you check your credit report, there will be no impact to your score.
No. SavvyMoney is entirely free and no credit card information is required to register.
As long as you are a regular online banking user, your credit score will be updated every month and displayed in your online banking screen. You can click “refresh score” as frequently as every day by navigating to the detailed SavvyMoney site from within online banking.
SavvyMoney pulls your credit profile from TransUnion, one of the three major credit reporting bureaus, and uses VantageScore 3.0, a credit scoring model developed collaboratively by the three major credit bureaus: Equifax, Experian, and TransUnion. This model seeks to make score information more uniform between the three bureaus to provide consumers a better picture of their credit health.
There are three major credit-reporting bureaus—Equifax, Experian and Transunion—and two scoring models—FICO or VantageScore—that determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. Over 200 factors of a credit report may be taken into account when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical. No matter what credit bureau or credit scoring model is used, consumers do fall into specific credit ranges: Excellent 781–850, Good 661-780, Fair 601-660, Unfavorable 501-600, Bad Below 500.
No, Metco uses its own lending criteria for making a loan.
Have more questions? We’re happy to answer them! Call us at 319.398.5007 or email ContactUs@MetcoCU.org.
