MyCredit Empowers Credit Union Members to Take Control of Their Credit Score
Fintech company, incuto has announced the launch of MyCredit, a new financial education tool enabling members of credit unions and community-based banks to help understand and influence its credit reports.
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Tuesday 23 January 2024
Fintech company, incuto has announced the launch of MyCredit, a new financial education tool enabling members of credit unions and community-based banks to help understand and influence its credit reports.
Powered by TransUnion, MyCredit includes Credit Score Simulator, so users have an opportunity to see how changes in their behaviours and spending habits could impact their credit score. MyCredit supports individual financial responsibility and education. the online tool offers a holistic credit view including score, report and monitoring.
Commenting on the launch of MyCredit, incuto CEO Andrew Rabbitt says: “We’re delighted to team up with TransUnion and offer MyCredit to affordable credit providers using the incuto platform. This latest innovation we are offering our credit union partners not only enhances the customer experience they can provide and opens new opportunities for existing members, but also offers another route to market, particularly via payroll partners.”
MyCredit incorporates credit alerts, so that users can actively and regularly engage with changes to their credit scores and ensure that any accounts opened in their names are recognised. Similarly, the credit education section provides a wealth of information on what goes into creating a credit score, helping credit union members learn and develop healthy financial habits, and help protect themselves from identity theft.
Kelli Fielding, Managing Director of Consumer Interactive for TransUnion in the UK, says: “Working with incuto to provide MyCredit to credit union members aligns perfectly with our aim of empowering individuals to take control of their financial standing. By helping them to understand their credit score and the factors affecting it, consumers can take steps to improve their score if necessary and to better understand what their options are in terms of accessing finance. The score simulator tool enables the user to see how future choices may affect their creditworthiness, without impacting the existing credit score and that’s really valuable in the current climate as we navigate our way through the pandemic.”
Participating credit unions can gain access via incuto’s Member Area, empowering them with financial information and education, including guidance on improving their credit score over time.
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