NAFCU Announces FICO as Preferred Partner for Credit Risk Score Services

NAFCU Services announced today that FICO, a global analytics software leader, is the newest Preferred Partner to join its program serving credit unions.

Through this partnership, FICO will provide NAFCU member credit unions with educational resources and informational tools on how they can access and leverage FICO® Scores. The partnership was approved following a rigorous, independent review and voting process by credit union CEOs. This partnerhip with FICO can help the credit unions meet their business goals and objectives by leveraging FICO® Scores to build sound portfolios.

Leveraging traditional credit and new alternative data sources, FICO can enable credit unions to lend deeper and safely expand financial inclusion. The introduction of broad-based credit scores by FICO more than 30 years ago has transformed economic growth—making access to credit more efficient and objective while helping to protect the financial stability of lenders by enabling more informed decisions to limit risk.

“We’re proud to welcome FICO as a partner. Their commitment to accurate and reliable credit risk data through the FICO® Score models enables the Credit Union industry to make better informed lending decisions,” said Randy Salser, president of NAFCU Services. “We look forward to supporting FICO in sharing resources and education directly to credit unions.”

"FICO recognizes that credit unions are a vital part of the lending ecosystem in the United States,” said Julie May, vice president and general manager of Scores at FICO. “We are eager to work directly with NAFCU members to help them understand how FICO® Scores can be a valuable tool for solving business challenges while mitigating risk.”