Find out what credit union professionals have to say about Experian's role in helping
them shape effective risk management strategies.
Carl Rohr, Sound Credit Union
Four years ago we did a credit score validation. We provided Experian with all
of the data. We were working with a particular analyst; he did a fantastic job. We
got a report, thenwe spent a lot of time over the phone with him analyzing and understanding
it. It helped us set our credit tiers, as well as the margin, the pricing, between
them as well as our underwriting cutoffs. We’ve had outstanding results since
that time. Our losses have come down. Our delinquencies have come down. Our approval
rate has gone up. So it was extremely successful.
Manage risk limits | Prevent loss | Redefine your approach to lending.
Jade Beckman, Mountain America Credit Union
We make use of Income Insight. We’ve incorporated that into our underwriting
and use it for ability-to-pay issues. I was intrigued by the concept because we had
previously, as much of the industry, had a stated income. i.e. “If the credit
score is above x, then we don’t even ask for verification of income.”
Income Insight gave us a nice middle ground that we could use and not really go to
stated income, but have something quantifiable behind that to say, “If credit
is x, and request is x and loan to value is x, and Income Insight is within
x of what they state their income is, we’re good.
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