October 1, 2022
More Than Just A Credit Score
A credit score is an important factor in the loan decision-making process, but there are many other factors beyond a credit score that are considered. When you apply for a loan at NE PA, our lending specialists look beyond the credit score to get a better understanding of your total financial picture.
Our lending team strives to help our members achieve their financial goals. Whether you are looking to establish credit, finance a home, or get pre-approved for an auto loan, at NE PA we consider several other factors beyond the credit score before making a lending decision, including:
Sometimes Life Happens
At NE PA, we understand that sometimes life takes an unexpected turn which can temporarily affect your financial situation in a negative way. If your credit report shows late payments or high credit card balances, we want to understand the “why” behind your financial situation. A lending specialist will review your credit report to see how NE PA might be able to save you money on high-interest debt. Free credit counseling can also be provided through our partnership with GreenPath Financial Wellness, a nonprofit organization. All of these steps are taken before making a lending decision.
Check back for our next article on credit scoring models.
