Tuesday, June 4, 2024

SECU Is Trashing Its Reputaion For Fairness And Endangering the Finacial Health Of Members With Risk-Based Lending...

😎 Here's a little personal, real-life example of how the SECU Board has thrown the membership to the wolves, by using FICO credit scores to slam member-borrowers with higher loan rates unjustly...

   ... uh-oh! 

                          What did I do?

 May 27, 2024:  Dear JAMES BLAINE,

We've detected a change in your FICO® Score. Your score has decreased -69 points.

Your FICO® Score can increase if you:

  • Pay your bills on time - [Always have!]
  • Use less credit than you have available - [Always do!]
  • Keep your credit accounts open and in good standing - [Always have!]

Your FICO® Score can decrease if you:

  • Miss monthly payments - [Never have!]
  • Max out your credit accounts - [Never do!]
  • Apply for new credit such as a credit card or a loan - [Haven't done that either!]

What's next?
Log in to MyCredit Guide to see your new FICO®  [Here's what it shows!] 


A -69 point drop in a member's credit score can have a substantial impact on the rate SECU borrowers are (over)-charged under risk-based lending. That sort of drop can take a member from the A-tier ("best rate") to the C-tier (worst rate) in the blink of an eye! And no one at SECU wants to hear you whining about "this is crazy" - and of course, any sort of appeal to reason and fairness, through the member Loan Review Committees is long gone!

And, if it's an error on the credit report? Well of course that's your problem, not theirs. It's your responsibility to fix it ! As mentioned above: "That's crazy"! 

SECU's risk-based, race-based lending based on a FICO credit score is "arbitrary and capricious" (be sure to look up that phrase as it relates to discrimination!) - and simply unjust.

😎 "The We" don't really care what you say anymore "no excuses"! 

At SECU these days, you are your score - no less, no more!