FICO® Scores

FICO® Scores are numbers that summarize your credit risk. Scores are based on a snapshot of your credit file at particular consumer reporting agencies at a particular point in time, and help lenders evaluate your credit risk. FICO® Scores influence the credit that’s available to you and the terms, such as interest rate, that lenders offer you.

FICO® Scores are calculated from many different pieces of credit data in your credit report. This data is grouped into five categories as outlined below. The percentages in the chart reflect how important each category is in the FICO® Score calculation.

• 35% - Payment history
• 30% - Outstanding debt
• 15% - Credit history length
• 10% - Pursuit of new credit
• 10% - Credit mix

FICO® Scores will be updated on the first business day of each new quarter (January, April, July, and October). If you have enrolled in Online Banking or our mobile app and meet the criteria (listed above), you will be able to see your score. The same score will be displayed during the entire quarter and will only be updated the first business day of each quarter. If you meet the criteria between score refresh dates, you will not see your score until the next quarterly refresh.

No. The FICO® Score we provide to you will not impact your credit.

The availability of your FICO® Score is meant for primary members with at least one (1) qualified account. A few reasons your FICO® Score may not be available:

• You are a new member.
• Your score was temporarily unavailable at the time of our quarterly score refresh process.
• You did not meet the criteria or weren’t signed-up for Online Banking or our mobile app at the time of our quarterly score refresh process.
• You may not have enough credit history to generate a score.

A FICO® Score is based on the credit information in a credit file with a particular consumer reporting agency (CRA) at the time the score is calculated. The information in your credit file is supplied by lenders, collection agencies, and court records. Not all lenders report to all three major CRAs. The FICO® Score that we provide to you is based on data from your Equifax report as of the ‘pulled on date’ shown with your score.

When a lender receives a FICO® Score, "key score factors" are also delivered, which explain the top factors from the information in the credit report that affected the score. The order in which FICO® Score factors are listed is important. The first indicates what most affected that particular FICO® Score and the second is the next significant area. Knowing these score factors can help you better understand your financial health over time. However, score factors are informative but not significant if you already have a high FICO® Score (usually in the mid-700s or higher). In this case, they represent very marginal areas where your score was affected.

There are many different credit scores available to consumers and lenders. FICO® Scores are the credit scores used by most lenders, and different lenders may use different versions of FICO® Scores. In addition, FICO® Scores are based on credit file data from a particular consumer reporting agency, so differences in your credit files may create differences in your FICO® Scores. The FICO® Score 9 – based on Equifax Data that is being made available to you through this program – is the specific score that we use to manage your account. When reviewing a score, take note of the score date, consumer reporting agency credit file source, score type, and range for that particular score.

There are many reasons why a score may change. FICO® Scores are calculated each time they are requested, taking into consideration the information that is in your credit file from a particular consumer reporting agency (CRA) at that time. So, as the information in your credit file at that CRA changes, FICO® Scores can also change. Review your key score factors, which explain what factors from your credit report most affected a score. Comparing key score factors from the two different time periods can help identify causes for a change in a FICO® Score. Keep in mind that certain events such as late payments or bankruptcy can lower FICO® Scores quickly.

Because your FICO® Score is based on the information in your credit report, it is important to make sure that the credit report information is accurate. You may get a free copy of your credit report annually. To request a copy of your credit report, please visit: https://www.annualcreditreport.com. Please note that your free credit report will not include your FICO® Score.

Reviewing your FICO® Scores can help you learn how lenders view your credit risk and allow you to better understand your financial health