Experian will now make credit reports available to nonprofit organizations through Credit Builders Alliance's CBA Access program Collaboration can help more low-and-moderate-income households build strong credit and financial access in order to grow their business and personal assets
COSTA MESA, Calif., May 19, 2014 /PRNewswire/ -- Experian®, the leading global information services company, today announced it will now offer consumer credit reports to Credit Builders Alliance (CBA) members, which will enable qualified, mission-aligned nonprofit CBA members to access Experian credit reports for underwriting as well as financial education purposes. Many individuals with poor credit or little to no credit (oftentimes referred to as the underbanked or underserved) may not have access to the mainstream financial system, but through the CBA Access program, they have the opportunity to obtain credit, build their credit and review their credit reports.
CBA is an innovative nonprofit social enterprise dedicated to building the capacity of a diverse and growing network of hundreds of nonprofits (CBA members) in almost all 50 states, including Puerto Rico, that help low- and moderate-income households build strong credit and gain financial access in order to grow their business and personal assets. CBA members comprise two categories: those who lend and provide financial counseling, and those who only provide financial counseling.
"We are pleased to be working with Experian to further enhance our CBA Access program in order to help more low-to-moderate income people build credit histories and credit scores," said Dara Duguay, executive director, CBA. "By offering these additional resources for our members, we are, in turn, helping their organizations be more effective in helping their clients gain access to safe and affordable mainstream financial products and to build assets."
CBA Access members will be able to take advantage of benefits and tools that can assist them in obtaining a clearer understanding of the consumer and their risk factors, including:
- Discounted credit report prices
- Discounts on the new VantageScore® 3.0 credit score, which scores up to 35 million previously unscoreable consumers
- The inclusion of rental payment data through Experian's RentBureau®
"The CBA Access program serves as an essential and valuable connection between the CBA members and Experian services," said Genevieve Juillard, president, Consumer Information Services, Experian. "Credit plays an important role in all of our lives, and Experian is committed to helping consumers learn about, build, and manage their credit, which is why we fully support and admire CBA and its efforts."
Additional Experian consumer education resources
For more than 20 years, Experian has been committed to improving consumer financial literacy and is dedicated to providing products and services that help consumers manage their credit reports and credit scores better, so they can get the credit they need when they need it.
Consumers can connect with Experian and learn more about credit in other ways, including by:
- Joining the #CreditChat, hosted by @Experian_US on Twitter with financial experts and consumers every Wednesday at 3 p.m. Eastern time
- Reading about Experian's perspective on trends and news at the Experian News Blog
- Visiting Experian's help site for answers to common questions, advice and education about consumer credit
- Asking credit questions on Experian's Facebook page at https://Facebook.com/ExperianUS
About Credit Builders Alliance
CBA was created by and for our nonprofit members to help nonprofit lenders report loan repayment data to the major credit bureaus. CBA serves as a unique and vital bridge between our members and the major credit reporting agencies (CRAs). Our philosophy is that good credit is essential to achieving and maintaining financial stability, and that mission driven nonprofits are uniquely positioned to help struggling households build credit as an asset. Our core services, CBA Reporter and CBA Access, provide nonprofits with both the ability and critical technical assistance to report loan data to the CRAs and to pull low-cost client credit reports for the purposes of financial education, outcome tracking, and underwriting.
Please visit CBA at www.creditbuildersalliance.org.
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2014, was US$4.8 billion. Experian employs approximately 16,000 people in 39 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.
For more information, visit http://www.experianplc.com.
Experian and the Experian marks used herein are tradem3arks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
VantageScore® is a registered trademark of VantageScore Solutions, LLC.