Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Elevations CU credit score help featured in newspaper
LONGMONT, Colo. (11/4/08)--A program at Elevations CU that explains credit reports and credit scores is featured in a Colorado newspaper's article about how consumers can protect their credit. Elevations CU is a $835 million asset credit union based in Boulder, Colo. Its program, Reality CheckUp explains to members how credit reports and credit scores work and offers steps they can take to improve both (Longmont Times-Call Nov. 2). The newspaper interviewed consumer advocate and consultant Remar Sutton, who was in Boulder to work with the credit union and its members and staff to discuss the nation's credit crunch and how that affects members and consumers. When the economy tanks, people jump into quick decisions that might cost them dearly later, Sutton said. The important thing consumers can do is to protect their credit score. He noted that credit card companies are tightening their credit to minimize their exposure to risk and the companies' actions can impact a credit score or the ability to obtain future loans. Sutton suggested to the credit union's members that they pay off their credit cards. If members carry more than 25% of their balance on their card, the credit card company may view them as a risk. Consumers can do two things if they find out their credit card company has raised their interest rate, Sutton said. They can:
* Transfer the balance to another card or * Contact a credit union or locally owned bank that isn't caught up in the mortgage crisis.
For the full article, use the link.
Other Resources

RSS





print
News Now LiveWire
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
3 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
3 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
4 hours ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
4 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
5 hours ago