Risk Based Pricing Notice
MECU uses risk-based pricing to determine the interest rate that we charge on vehicle loans. As a result, the terms offered to you may be less favorable than the terms offered to members who have better credit histories.
| What is a credit report? | A credit report is a record of your credit history. It includes information about whether you pay your bills on time and how much you owe to creditors. |
| How do we use your credit report(s)? | We used information from your credit report(s) to set the terms of the credit we are offering you, such as the Annual Percentage Rate (APR). The terms offered to you may be less favorable than the advertised terms and/or the terms offered to other credit union members who have more favorable credit histories. |
| What if there are mistakes in your report(s)? | You have a right to dispute any inaccurate information in your credit report(s). It is a good idea to check your credit report(s) to make sure the information contained in the report(s) is accurate. If you find mistakes on your credit report(s), your credit information was furnished by Experian. |
| How can you obtain a copy of your credit report(s)? | Under federal law, you have the right to obtain a copy of your credit report(s) without charge for 60 days after you receive this notice. To obtain your free report(s), contact Experian: By telephone: Call toll-free: 1-800-311-4769 By mail: P.O. Box 9600 . Allen, TX 75013 On the web: www.experian.com/consumer |
| How can you get more information about credit reports? | For more information about credit reports and your rights under federal law, visit the Federal Reserve Board’s web site at www.federalreserve.gov, or the Federal Trade Commission’s web site at www.ftc.gov. |
Updated: September 28, 2010
