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IN.Y. TimesI To heal credit score talk to a CU
NEW YORK (2/23/11)--Consumers looking to restore a poor credit score should talk to a credit union to help them gain more sound financial footing, according to a Friday article in The New York Times. Among a half-dozen suggestions, in an article titled, “Healing a Wounded Credit Score,” by Tara Siegel Bernard, is the suggestion, “Talk to a credit union.” “These institutions may be more willing to work with members who have checkered histories,” she wrote. “Their offerings vary, but they may be more likely to consider alternative credit scores, offer free credit counseling or have products tailored for people with poor credit histories.” “Certainly, many credit unions have credit builder or rebuilder loans, often structured as a loan with a built-in savings component so that a person gradually builds up funds that can act as partial collateral,” Clifford Rosenthal, president of the National Federation of Community Development Credit Unions, told Bernard. To read the article, use the link.
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