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Anyone new to the world of credit is probably looking to give their FICO score a boost. But how do you do it? Here are some

straightforward ways to establish stellar credit:

1. Start with your credit reportThis is a simple but important step many consumers overlook. Credit

reports sometimes contain inaccuracies, and they can alert you to fraudulent accounts opened in your name as a result of identity theft.

Even if you’re new to the world of credit, you might still have a file with the three major credit bureaus - Equifax, Experian, and TransUnion. So, request your free credit report from them. Then, carefully analyze the contents and dispute any inaccuracies.

2. Don’t fall for the first credit card offer you receiveDon’t waste money by signing up for a credit card with a big annual fee and an exorbitant interest rate. Instead, look for cards that reward you, such as with cash back or points you can put toward things you normally buy. Stuck

with a shabby piece of plastic? Pay off the balance, but avoid closing the account - which is a common credit card sin that can damage your

credit score. Then, find a better card (psst- WCCU has a great Credit Card program- ask us or look online!).

3. Work your way upIf you can’t get approved for a regular credit card, consider a secured credit card. Just be prepared to make a cash deposit, and read the fine print to confirm that the costs don’t outweigh the benefits. As you

establish a record of responsibly using your secured card, the company might offer you a regular credit card or you can apply for one.

4. Make timely paymentsPenalties - in the form of fees and a higher interest rate - aren’t the only

product of delinquency. One late payment can hurt your credit score.

Credit card issuers usually give you 30 days to bring your account current before reporting your late payment to the credit bureaus. Make it a habit

of paying before the due date. Making on-time payments is a significant part of your credit score. If you’re having a tough time keeping up,

consider using a bill-pay service or automatic withdrawals. Or, set up payment reminders on your phone or another electronic device.

5. Keep balances lowThe percentage of your available credit that you are using at

a given time - a ratio of your credit limits to your credit bal-ances - is sometimes known as

6Stellar CreditSimple Tips

for Newbies to establish

www.westerlyccu.com

Hol

iday

Tournament 20

17

Follow the 34th WCCU Holiday Bball Tourney for updates on Scores, Pictures, & Fan Spirit!

see attached flyer for details

NewsCommunityDecember 2017 issue

Hel

ping

Our

Mem

bers

Achieve Financial Success!

Westerly ~ Richmond ~ South Kingstownwww.westerlyccu.com

401-596-7000This Credit Union is federally insured by NCUA. WCCU NMLS ID#: 518892

Article continued from pg 1

*Double points are earned on all purchases made in Washington County, RI or New London County, CT. For more details about rates, fees, and other important cost information, a card application, CURewards® Disclos-ure and Agreement, WCCU Rewards Platinum VISA® Credit Card Cardholder Disclosure and Agreement or to apply online, please visit us online at www.westerlyccu.com. Offer may change at any time. Restrictions

may apply.

&earnD

OUBLE POIN

TS

• SH

OP L CAL •

Doubly Rewarding!By using your WCCU Rewards VISA® Credit Card locally- you help local businesses &

earn Double points- it’s a win-win!

Gobble Gobble- WCCU Donates 25 Turkeys to PNC

your credit utilization ratio. It accounts for 30% of your FICO credit score and is one of the biggest factors affect-ing your VantageScore credit score.

This rule applies even if you pay off your credit card balances in full each month. The credit bureaus remain interested in how much you charge. It is advised to keep your balances to less than 30% of your credit limit.

Don’t turn to credit card cash advances for help paying down your balances. This form of loan generally comes with a fee, a higher interest rate and no grace period - making it a dumb way to borrow money.

6. Pay attentionRemain vigilant about your credit card statements and credit reports. This is not an overnight job. Establishing stellar credit takes time and patience. But if you practice responsible credit use, your efforts will be rewarded.

Redeem points forCash - Merchandise - Donation

What’s New at WCCU!

Monday, Dec 25th- Closed for Christmas Monday, Jan 1st- Closed for New Year’s Day

WCCU Holiday HoursU

WCCU is proud to announce that Julie A. Lefebvre has joined us as the Direc-tor of Asset Quality. She is respon-sible for directing and overseeing all operations within the Collections Department. Julie’s goal is to use her over 18 years of experience in the banking industry to help members become financially successful.

She shows her commitment to the community by mentoring at Big Brothers Big Sisters of the Ocean State as well as by being a foster volunteer at Friends of Homeless Animals RI.

The Staff and Board of Directors of the WCCU congratulate Julie on her new position on #TeamWCCU!

Lefebvre Joins Team WCCU

WCCU donated 25 Turkeys to the Pawcatuck Neighbor-hood Center (PNC). The PNC will use these turkeys, in

addition to all other donations they receive, to create and distribute approximately 500 Thanksgiving baskets. These baskets will contain a full holiday meal to help feed and

bring joy to those in need within the community.

Pictured: PNC Volunteers (L to R): Shane Foster; Susan Sedensky (PNC Executive Director); Sam Back; Kate Craig (WCCU Marketing Specialist); Barbara Bushaw; and Chuck Mehringer.

Celebrating our Staff!Happy Birthday to...

Dec. 8- Holly Harrington- Financial Services RepDec. 11- Scott Harold- WCCU Supervisory Committee

Dec. 15- Terry Turnbull- Admin Assistant Dec. 26- Sarah Loughlean- Director of Accounting Dec. 28- Dick Muntimuri- Internal Auditor

Article adapted from MoneyTalksNews, Allison Martin 11.23.16

WCCU is here to help. Our Financial Service Reps can answer your questions,

prequalify you, and help you determine the best course of action to build or rebuild your credit.

Call us today at 401.596.7000

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