Our branches and call center will be closed July 3 – 4 for Independence Day. We will resume normal business hours on Monday, July 6. The San Francisco branch remains temporarily closed due to the shelter in place guidelines. Our branch ATMs remain operational, with the exception that we may need to temporarily restrict access to select ATMs due to local conditions.
Click here for branch locations and hours.
June 16, 2017
By: Liann Walborsky, AVP, Communications, Tech CU
heard it over and over again. Good credit is key to … well … just about
everything when you’re thinking about buying a home, car, applying for a credit
card and more. And, maintaining good credit means knowing your score and
monitoring it for everything from identity theft to late payments.
important to realize that your score can vary depending on whether you’re checking
it through SavvyMoney vs. the credit score you receive
when actually applying for a loan, or obtaining through a credit website. This
can be confusing, so we thought we’d shed some light on how the system works.
How it works
pulls credit profiles from TransUnion, one of the three major credit
reporting bureaus, and uses VantageScore 3.0, a credit scoring model developed
collaboratively by Equifax, Experian and TransUnion. In addition to VantageScore, there are several
other types of credit scoring models used today — ultimately it’s up to the
lender to determine which score they use.
you’re wondering why your credit score is different when you check it through
other credit websites (i.e. Credit Karma, etc.) or apply for a loan, it all
depends on which of the three bureaus is used, the credit information being reported,
and the credit score model. The credit score that you receive from SavvyMoney,
for example, will offer up a different credit score than a lender, including Tech
CU. Please know that when you apply for a loan with us, the credit score from
SavvyMoney is not used to determine your credit qualifications or to determine
addition, it’s key to remember that the score you receive from a credit website
is more of an educational credit score. It
can illustrate your overall credit picture: higher scores mean you’re handling
your credit responsibilities well; lower scores may mean you need to
consider changing your credit behavior. This score is also not a credit report (details about your credit history).
why we encourage you to take advantage of obtaining free credit reports every four months to find any
incorrect information or discrepancies. Each bureau has its own process for
correcting inaccurate information. The Federal Trade Commission also offers step-by-step
instructions on how to contact the bureaus and fix errors.
What the numbers mean:
Posted June 16, 2017 by Liann Walborsky