Credit Unions Embrace FICO® Score Open Access, Driving Adoption to 180 Million US Consumer Accounts
HIGHLIGHTS:
- FICO® Score Open Access is being used by credit unions as well as banks to increase engagement with their members
- 180 million consumer accounts can now access their FICO® Score for free through 100 financial institutions
US financial institutions of all sizes are offering the FICO® Score Open Access program to their customers as a way to empower them to take control of their financial health. Participants in the program provide FICO® Scores and related information to their customers, and participating lenders range from the country's largest lenders to dozens of credit unions, some with as few as 300 members. Thanks to these lenders, 180 million consumer accounts are now getting their FICO® Scores for free.
For a list of some of the institutions that provide free FICO® Scores through the program, visit http://ficoscore.com/where-to-get-fico-scores/
"Our members continue to flock, in growing numbers, to our website when their FICO Scores are updated," said
"We are very pleased to be offering this benefit to our membership," said
"We're very satisfied with the comprehensive education including the FICO Score, key factors that affected the score, and score-related frequently asked questions that our members receive as part of this program," said
"From the very beginning we have been committed to providing the FICO Score Open Access program to even the smallest community banks and credit unions," said
The FICO® Score Open Access program was introduced in 2013 by FICO to help educate consumers on FICO® Scores and increase consumer access to FICO® Scores. The 100 lenders in the program give their customers free access to the same FICO® Scores they are using to manage credit accounts. They also provide the top factors affecting the score, so customers better understand their financial health. President
"Knowing your FICO Score is a critical part of managing your personal finances," Wehmann said. "Your FICO Scores are the only credit scores worth knowing, because they're the scores lenders actually use to rate your creditworthiness."
The FICO® Score is the standard measure of US consumer credit risk, and is used in more than 20 countries. More than 10 billion FICO Scores are purchased in
FICO continues to support the expansion of the FICO® Score Open Access program and welcomes additional credit unions and lenders to participate in the program. Visit the information page for details.
About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in
Learn more at http://www.fico.com
FICO is a registered trademark of
Logo - http://photos.prnewswire.com/prnh/20111010/CG83314LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/credit-unions-embrace-fico-score-open-access-driving-adoption-to-180-million-us-consumer-accounts-300369674.html
SOURCE FICO
Media: Greg Jawski, Porter Novelli for FICO, +1 212-601-8248, greg.jawski@porternovelli.com; Investors/Analysts: Steven Weber, FICO, +1 800-213-5542, investor@fico.com