managing finances

Your credit score is a vital part of your financial history. Lenders and other organizations use it to understand how much of a risk you are regarding financial matters and repaying your debts. Understanding how your credit score is made up and the typical ranges and ratings can help you gain insight into your creditworthiness and allow you to make improvements.

Your credit score comes from several distinct but related areas that make up your credit history. These areas are combined to calculate your overall score.

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Don’t allow yourself to become a victim of fraud. Here are some guidelines to be aware of.

• No one at MemberSource Credit Union will ever ask you for your PIN or password. Never give this secure information to a business.
• Be extremely wary of unsolicited calls. If you did not make a call to a business, never allow them access to your computer or log in information – including apps on your phone.  And, never give them your personal information such as your SSN.
• Reputable companies or agencies will not ask you to make payment in the form of gift cards. The IRS does not accept this form of payment and will never contact you for payment by phone.
• Never make a deposit into your account from a person or company with which you do not have legitimate business. You are not “hired” by a company simply because they give you a check and ask you to deposit it, keep a portion and send the rest to them. When that deposit is returned because it is fraudulent, you will be responsible for the funds.

Use extreme caution when receiving any phone call with a business that contacts you directly. When you grant an individual or business remote access to your log in credentials or other secure information, they can get into your financial accounts and you may be helpless to stop them.