Introducing Credit Score by Savvy Money

Introducing Credit Score by Savvy Money

Free ongoing credit score, reporting and monitoring

Credit Score by Savvy Money is a FREE service that gives you access to your full credit score and report directly inside Online and Mobile Banking. Credit Score also gives you access to financial tips and education, credit offers based on your score, credit monitoring alerts and more!

Key Benefits of Credit Score:

  • Free access to your credit score, full credit report, and credit monitoring
  • Track your score daily without it ever being negatively affected
  • Use the score simulator to see what happens to your score if you were to take certain actions
  • Money saving offers from COPFCU that can help you reduce your interest costs
  • No extra apps to install – Credit Score is accessible within Online Banking & the COPFCU Mobile app

How to Enroll in Credit Score

  1. Login to Online or Mobile Banking
  2. Click “Get Started” on the Credit Score Widget. If using the mobile app, click Accounts and scroll to the bottom of the screen to locate the Credit Score widget.
  3. Accept the terms of agreement

Credit Score & Report

Credit Score– View your latest credit score, key factors that impact your score, and up-to-date offers that can help reduce interest costs by refinancing your loans from another lender. Track your score daily without it ever being negatively affected.

Credit Report– Get a free credit report once a month that includes all the information you would find on your credit file, such as a list of open loans, accounts, and credit inquiries. View details of your payment history, credit utilization, and public records.

Credit Score by Savvy Money

Credit Score Simulator & Goals

The Credit Score Simulator is an interactive tool that allows you to select various actions you may take – such as paying off a credit card or applying for a loan – and seeing how your score could be affected.

Set goals to help you reach a target credit score within a specific timeframe and Credit Score will provide you with  personalized recommendations to help you achieve your goals.

Credit Score by Savvy Money

Credit Monitoring & Alerts

Credit Score also monitors your credit report daily and informs you by email if significant changes are detected, such as a new inquiry, a new account opened, a change in address or employment, or if a delinquency has been reported.

Female checking phone for credit monitoring alerts.

FAQs:

What is Credit Score?

Credit Score by SavvyMoney is a FREE credit score reporting program offered by COPFCU that helps you stay on top of your credit and understand what your score represents. You get your latest credit score and report, the key factors that impact the score and the most up to date offers that your credit score earns you. With this program, you always know where you stand with your credit and how COPFCU can help save you money by reducing interest fees.

How often is my credit score updated?

If you regularly accesses your online or mobile banking, your credit score will be updated every 7-days and displayed within your online banking. You can also refresh your credit score and full report every 24 hours by clicking “Refresh Score” and navigating to the detailed Credit Score Dashboard within online or mobile banking.

Your credit report will be updated on a monthly basis.

Will checking my credit score in Credit Score affect my credit or potentially lower my credit score?

No. Checking credit on Credit Score is a “soft inquiry” which does not affect your credit score.

Does COPFCU use Credit Score to make loan underwriting decisions?

No. COPFCU uses its own established methods for pulling member credit reports for loan decisions. Credit Score is strictly an educational tool for members to monitor and understand their credit scores.

How do I see my credit score through Online Banking?

The ability to see your credit score through Credit Score (by Savvy Money) is built into Online Banking and the COPFCU Mobile App.

On your computer, log in to Online Banking. Access your credit score by clicking “Get Started” in the Credit Score widget located in the top right corner. Follow the prompts to enroll. When you login to online banking again, your credit score will display automatically.

In the COPFCU mobile app, click “Accounts” and scroll to the bottom of the screen to locate the Credit Score widget.

Is my credit score in the Credit Score program different from a FICO credit score?

The score provided in Credit Score is not the FICO score, but it will be close to your FICO score. Both scores create scoring models that use consumer credit data to generate credit scores, but they use different methods to calculate scores, which may result in slight scoring differences.

There are three major credit-reporting bureaus (Equifax, Experian, and Transunion) and two scoring models (FICO or VantageScore) that determine credit scores. Financial institutions choose which bureau and scoring model to use. 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.

Credit Score pulls your credit profile from TransUnion and uses VantageScore 4.0, 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.

Important Legal Disclaimer

The credit score provided through the Credit Score by Savvy Money program is intended to help you understand the factors that affect your credit score, and ways you may be able to save money with COPFCU loan products. It is not used for loan approval purposes, or for determining loan rates. Loan rates and approvals are based on information provided to the credit union when you apply for a loan. The credit score found in the credit report may be different than the credit score you see here. The offers presented are not offers to lend. Terms and conditions and offers are subject to change at any time.