Frequently Asked Questions

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What is SavvyMoney’s Credit Score?

Credit Score helps you stay on top of your credit by providing your latest credit score and report and understanding key factors that impact the score. It also monitors your credit daily and informs you by email if any significant changes are detected, such as a new account being opened, a change in address, employment, delinquency, or inquiry has been reported.

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How do I enroll?

Just log in to mobile or online banking and click “Show My Score”. Then, follow the steps provided.

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Is there a fee for Credit Score?

No. Credit Score and More is entirely free to MembersOwn’s members.

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Will accessing Credit Score “ding” my credit and potentially lower my credit score?

No. Credit Score is a “soft inquiry” which does not affect your credit score. Lenders use “hard inquiries” to make decisions about creditworthiness when you apply for loans.

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How often is the credit score updated?

The credit score will be updated every seven days and displayed in mobile and online banking. You can click “refresh score” as often as every day for an updated score.

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What if the information provided by SavvyMoney’s Credit Score appears to be wrong or inaccurate?

Credit Score provides the most relevant information from a credit report. If you think some information is wrong or inaccurate, you can obtain a free credit report from www.annualcreditreport.com and then dispute inaccuracies with each bureau individually. Each bureau has its process for correcting inaccurate information, but every MembersOwn Credit Score user can “File a Dispute” with TransUnion by clicking on the “Dispute” link within Credit Score. TransUnion will share this with the other bureaus if the inaccuracy is verified.

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Why do credit scores differ?

Three major credit-reporting bureaus (Equifax, Experian, and TransUnion) and two scoring models (FICO or VantageScore) determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. Over 200 credit report factors may be considered when calculating a score, and each model may weigh credit factors differently, so no scoring model is identical.

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Will MembersOwn use Credit Score to make loan decisions?

MembersOwn uses its own lending criteria for making loan decisions.

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