CU*Answers has reached a new milestone in 2021 for updating member’s credit scores in CU*BASE. The Lender*VP Team updated over 2.2 million soft credit scores during the year with over 75 credit unions participating in the program. Credit score analysis continues to be a focus of development in CU*BASE® allowing credit unions to more effectively target members who qualify for a better offer. Current scores also help them offer a more competitive rate to people who might not have A or B credit, but who otherwise have acceptable risk. This helps those credit unions reach out to a new pool of loan applicants.
Lender*VP can run a batch soft pull on the entire membership, an age range, or on just those members with active loans. Credit unions also have the option with Transunion and VantageScore to display these scores to members online or through the mobile app.
To learn more about credit score soft pulls, please visit the CU*Answers online store.