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Credit reports and credit scores influence our lives in many ways. Your history of credit management can affect the interest rate you pay on a loan, your ability to rent or buy a home, the insurance rates you are offered, and even your future employment opportunities. By understanding the world of credit reports, you can create a positive credit standing that will allow you to achieve your goals quickly and inexpensively.

The chart below illustrates how a person with a credit score of 728 could save approximately $6,674.78 in interest on a 60 month auto loan of $24,000 compared to someone with a score of 508.

Credit Score	508	728
Loan Amount	$24,000	$24,000
Term	60 months	60 months
Rate	14.00%	4.50%
Payment	$558.77	$447.53
Total payments	$33,526.04	$26,851.26

If your credit score isn’t what you want it to be, 1st Cooperative can review your credit report and provide advice on how to address problems and build strong credit. This service is provided to credit union members.

Just complete a ‘Review my Credit Report Request’ form and fax or mail to the credit union. This form is available upon request from the credit union or credit union contact in your co-op office.