On a mission to help its members build their credit scores for a brighter financial future, Dupaco Community Credit Union’s Great Credit Race produced several winners. The six-month competition ended Nov. 15 in a three-way tie for first place and a two-way tie for second.
The race winners—Anna O., Kiernan S. and Brett B.—built their credit scores from 0 to 727. For their efforts, each won $1,000. Second-place finishers Dana E. and Nino E. both raised their scores to 721 and received $500.
The competition provided an opportunity for the 12 racers, and their observers, to gain a better understanding of how credit works and how it impacts every stage of life. Each racer received a Dupaco Platinum Visa credit card with a $1,000 limit and one-on-one credit and budget coaching.
“I learned how important your credit score is. It can affect you when you buy a car or home or get a job,” Anna O. says. “I’m glad I now know for the future how to continue keeping my credit score up.”
The leading racers followed similar strategies, using their credit cards for smaller purchases and quickly paying off their balances.
“I feel like I can go out and know I have the knowledge to continue with a great credit score in the future,” Brett B. says. “Financial stability is possible. If you set your mind to a goal, you can achieve it.”
For Kiernan S., the race not only showed him how to establish solid credit, but it also will allow him to replace his unreliable vehicle that gets him to school and multiple jobs. He plans to put his race winnings toward a down payment on a Dupaco auto loan.
“Getting a newer vehicle is more important than I can explain,” he says. “I just want to greatly thank Dupaco for helping me out with this. It’s a great accomplishment, and it will push me farther in life.”
Dupaco’s Great Credit Race is one more way the credit union is fulfilling its mission to improve each member’s financial position, says Jill Rothenberger, vice president, consumer lending. The race complements Dupaco’s other products and services—including Credit History Lessons, Credit Coach loans and Bright Track credit score monitoring—that help members improve their scores and gain access to better rates.
“We want to give these young members the tools they need to be financially responsible,” Rothenberger says.