Q: What is SavvyMoney Credit Score?

A: SavvyMoney is a comprehensive Credit Score program offered by your financial institution, that helps you stay on top of your credit. You get your latest credit score and report, an understanding of key factors that impact the score, and can see the most up to date offers that can help reduce your interest costs or lower your monthly payments. With this program, you always know where you stand with your credit and how your financial institution can help save you money. Credit Score also monitors your credit report daily and informs you through digital banking and by email if there are any big changes detected such as: a new account being opened, change in address or employment, a delinquency has been reported or an inquiry has been made. Monitoring helps users keep an eye out for identity theft.

Q: What is SavvyMoney Credit Report?

A: SavvyMoney Credit Report provides you all the information you would find on your credit file including a list of current or previous loans, accounts and credit inquiries. You will also be able to see details on your payment history, credit utilization and public records that show up on your account. Like Credit Score, when you check your credit report, there will be no impact to your score.

Q: What is the Score Simulator tool?

A: The Score Simulator is an interactive tool that allows you to select various actions you may take and see how your score could be affected. Different actions, like paying off a credit card balance might make your score move up or down. Just like checking your credit score through SavvyMoney, using the simulator does not affect your actual credit score.

Q: Is there a fee?

A: No. SavvyMoney is entirely free, and no credit card information is required to register.

Q: How often is my credit score updated?

A: As long as you regularly access digital banking, your credit score will be updated every 7-days and displayed within your online banking screen. You also have the ability to refresh your credit score and full credit report every 24-hours by clicking “Refresh Score” by navigating to the detailed Credit Score Dashboard from within digital banking.

Q. How does the SavvyMoney Credit Score differ from other credit scoring offerings?

A: SavvyMoney pulls your credit profile from TransUnion, one of the three major credit reporting bureaus, and uses VantageScore 3.0, a credit scoring model developed collaboratively by the three major credit bureaus: Equifax, Experian, and TransUnion. This model seeks to make score information more uniform between the three bureaus to provide consumers a better picture of their credit health.

Q: Why do credit scores differ?

A: There are three major credit-reporting bureaus—Equifax, Experian and Transunion—and two scoring models—FICO or VantageScore—that determine credit scores. Financial institutions use different bureaus, as well as their own scoring models. Over 200 factors of a credit report may be considered when calculating a score and each model may weigh credit factors differently, so no scoring model is completely identical but should directionally be similar.

Q: Will Advantage Federal Credit Union use SavvyMoney Credit Score to make loan decisions?

A: No, Advantage Federal Credit Union uses its own lending criteria when making final loan decisions. However, the SavvyMoney tool can show you estimated savings opportunities on new and existing loans. Final rate, term, monthly payment, and other factors will be determined at the time of application.

Q: Will SavvyMoney share my credit score with Advantage Federal Credit Union?

A: No, Advantage Federal Credit Union does not have access to your credit file unless you choose to share with them. However, if you would like to share your credit report with your financial institution or any trusted party, you can easily download your SavvyMoney credit report but navigating to the “Credit Report” tab and clicking “Download Report”.

Q: How does SavvyMoney Credit Score keep my financial information secure?

A: SavvyMoney uses bank level encryption and security measures to keep your data safe and secure. Your personal information is never shared with or sold to a third party.

Q: If the financial institution doesn’t use SavvyMoney Credit Score to make loan decisions, why do we offer it?

A: SavvyMoney Credit Score can help you manage your credit so when it comes time to borrow for a big-ticket purchase—like buying a home, car or paying for college—you have a clear picture of your credit health and can qualify for the lowest possible interest rate. You’ll also see offers on how you can save money on your new and existing loans with Advantage FCU.

Q: What if the information provided by SavvyMoney Credit Score appears to be wrong or inaccurate?

A: The SavvyMoney Credit Score makes its best effort to show you the most relevant information from your credit report. If you think that some of the information is wrong or inaccurate, we encourage you to take advantage of obtaining free credit reports from www.annualcreditreport.com, and then pursuing with each bureau individually. Each bureau has its own process for correcting inaccurate information but every user can “File a Dispute” by clicking on the “Dispute” link within their SavvyMoney Credit Report. However, The Consumer Financial Protection Bureau website offers step-by-step instructions on how to contact the bureaus and correct errors.

Q: There is a section on the site that features both Advantage Federal Credit Union product offers and financial education articles. Why am I seeing this?

A: Based on your SavvyMoney Credit Score information, you may receive Advantage Federal Credit Union pre-qualified offers (invitation to apply) on products that may be of interest to you. In most cases, these offers may have lower interest rates than the products you already have or can save you money on your monthly payments. The educational articles, written by Jean Chatzky and the SavvyMoney team, are designed to provide helpful tips on how you can manage credit and debt wisely.

Q: Will accessing SavvyMoney Credit Score ‘ping’ my credit and potentially lower my credit score?

A: No. Checking SavvyMoney Credit Score is always a “soft inquiry”, which does not affect your credit score. Typically, lenders use ‘hard inquiries’ to make decisions about your credit worthiness when you apply for loans.

Q: Does SavvyMoney offer credit report monitoring as well?

A: Yes. After you have enrolled in Credit Score for the first time, SavvyMoney will monitor and send email alerts when there’s been a change to your credit profile. When applicable, you can also find these monitoring alerts within your online or mobile banking account.

Q: How do I change my email address or other personal information?

A: If you access SavvyMoney program through your online banking, you are all set and no further action is required from you! Your email address will get updated automatically in SavvyMoney when you update it within online or mobile banking. We always encourage you to inform your us of any contact information updates.

Q: Am I able to choose which emails I receive from SavvyMoney?

A: Yes, you can easily choose when SavvyMoney contacts you. Navigate to the “Resources” tab and then under “Profile Settings” you can choose which email notifications you receive. SavvyMoney sends out three types of emails: Credit Monitoring Alerts, General Messages and Monthly Notices. You will be automatically enrolled in all email communications and can easily unselect the specific email types you wish to not receive.

Q: Can people use SavvyMoney on mobile devices?

A: Yes, SavvyMoney Credit Score and all other features are available on mobile and tablet devices and is integrated within our mobile banking app.

WHAT IS ZELLE®?

Zelle®is a fast, safe and easy way to send money directly between almost any bank accounts in the U.S., typically within minutes.3 With just an email address or U.S. mobile phone number, you can send money to people you trust, regardless of where they bank.2

WHO CAN I SEND MONEY TO WITH ZELLE®?

You can send money to friends, family and others you trust.2

Since money is sent directly from your bank account to another person’s bank account within minutes,3 it’s important to only send money to people you trust, and always ensure you’ve used the correct email address or U.S. mobile number.

HOW DO I ENROLL IN AND USE ZELLE®?

To get started, log in to Advantage FCU’s online banking or mobile app and navigate to the “Send Money with Zelle®” tab. To enroll, accept terms and conditions, tell us your email address or U.S. mobile number and deposit account, and then you will receive a one-time verification code, enter it and you’re ready to start sending and receiving with Zelle®.

To send money using Zelle®, simply add a trusted recipient’s email address or U.S. mobile phone number, enter the amount you’d like to send and an optional note, review, then hit “Send.” In most cases, the money is available to your recipient in minutes.3

To request money using Zelle®, choose “Request,” select the individual(s) from whom you’d like to request money, enter the amount you’d like to request, include an optional note, review and hit “Request”.4

To receive money, just share your enrolled email address or U.S. mobile phone number with a friend and ask them to send you money with Zelle®.

SOMEONE SENT ME MONEY WITH ZELLE®, HOW DO I RECEIVE IT?

If you have already enrolled with Zelle®, you do not need to take any further action. The money will be sent directly into your bank account and will be available typically within minutes.3

If you have not yet enrolled with Zelle®, follow these steps:

• Click on the link provided in the payment notification you received via email or text message.
• Select Advantage FCU.
• Follow the instructions provided on the page to enroll and receive your payment. Pay attention to the email address or U.S. mobile number where you received the payment notification – you should enroll with Zelle® using that email address or U.S. mobile number where you received the notification to ensure you receive your money.

WHAT TYPES OF PAYMENTS CAN I MAKE WITH ZELLE®?

Zelle® is a great way to send money to family, friends and people you are familiar with such as your personal trainer, babysitter or neighbor.2

Since money is sent directly from your bank account to another person’s bank account within minutes,3 Zelle® should only be used to send money to friends, family and others you trust.

Neither Advantage FCU nor Zelle® offers a protection program for any authorized payments made with Zelle® – for example, if you do not receive the item you paid for or the item is not as described or as you expected.

HOW DO I GET STARTED?

It’s easy — Zelle® is already available within Advantage FCU’s mobile banking app and online banking! Check our app or sign in online and follow a few simple steps to enroll with Zelle® today.

WHAT IF I WANT TO SEND MONEY TO SOMEONE WHOSE FINANCIAL INSTITUTION DOESN’T OFFER ZELLE®?

You can find a full list of participating banks and credit unions live with Zelle® here.

If your recipient’s financial institution isn’t on the list, don’t worry! The list of participating financial institutions is always growing.

HOW DOES ZELLE® WORK?

You can find a full list of participating banks and credit unions live with Zelle®

When you enroll with Zelle® through your online banking account or mobile banking app, your name, the name of your Financial Institution, and the email address or U.S. mobile number you enrolled is shared with Zelle® (no sensitive account details are shared – those stay with Advantage FCU).

When someone sends money to your enrolled email address or U.S. mobile number, Zelle® looks up the email address or mobile number in its “directory” and notifies of the incoming payment. then directs the payment into your bank account, all while keeping your sensitive account details private.

CAN I USE ZELLE® INTERNATIONALLY?

In order to use Zelle®, the sender’s and recipient’s bank accounts must be based in the U.S.

CAN I CANCEL A PAYMENT?

Certain payments can be cancelled for a fee. Please refer to our Member Account Service Charge Schedule.

You can only cancel a payment if the person you sent money to hasn’t yet enrolled with Zelle®. To check whether the payment is still pending because the recipient hasn’t yet enrolled, you can go to your activity page, choose the payment you want to cancel, and then select “Cancel This Payment.”

If the person you sent money to has already enrolled with Zelle®, the money is sent directly to their bank account and cannot be canceled. This is why it’s important to only send money to people you trust, and always ensure you’ve used the correct email address or U.S. mobile number when sending money.

If you sent money to the wrong person, we recommend contacting the recipient and requesting the money back. If you aren’t able to get your money back, please call our member service team at so we can help you.

Scheduled or recurring payments sent directly to your recipient’s account number (instead of an email address or mobile number) are made available by but are a separate service from Zelle® and can take one to three business days to process.

You can cancel a payment that is scheduled in advance if the money has not already been deducted from your account.

WHAT IF I TYPE IN THE WRONG PHONE NUMBER OR EMAIL AND SEND THE MONEY TO THE WRONG PERSON?

First, always double check your contact information before sending a payment with Zelle. If you send money to the wrong token (email or phone number)- cancel the payment if the recipient has not yet collected the money. The financial institution will bear no responsibility or liability for damages resulting from incorrect information entered by the Sender or Receiver.

HOW LONG DOES IT TAKE TO RECEIVE MONEY WITH ZELLE®?

Money sent with Zelle® is typically available to an enrolled recipient within minutes.3

If you send money to someone who isn’t enrolled with Zelle®, they will receive a notification prompting them to enroll. After enrollment, the money will be available directly in your recipient’s account, typically within minutes.3

If your payment is pending, we recommend confirming that the person you sent money to has enrolled with Zelle® and that you entered the correct email address or U.S. mobile phone number.

If you’re waiting to receive money, you should check to see if you’ve received a payment notification via email or text message. If you haven’t received a payment notification, we recommend following up with the sender to confirm they entered the correct email address or U.S. mobile phone number.

Still having trouble? Please contact our member support team at 585.454.5900 x5.

WILL THE PERSON I SEND MONEY TO BE NOTIFIED?

Yes! They will receive a notification via email or text message.

IS MY INFORMATION SECURE?

Keeping your money and information safe is a top priority for . When you use Zelle® within our mobile app or online banking, your information is protected with the same technology we use to keep your bank account safe.

I’M UNSURE ABOUT USING ZELLE® TO PAY SOMEONE I DON’T KNOW. WHAT SHOULD I DO?

If you don’t know the person, or aren’t sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle® for these types of transactions.

These transactions are potentially high risk (just like sending cash to a person you don’t know is high risk). Neither Advantage FCU nor Zelle® offers a protection program for any authorized payments made with Zelle® – for example, if you do not receive the item you paid for or the item is not as described or as you expected.

WHAT IF I GET AN ERROR MESSAGE WHEN I TRY TO ENROLL AN EMAIL ADDRESS OR U.S. MOBILE NUMBER?

Your email address or U.S. mobile phone number may already be enrolled with Zelle® at another bank or credit union. Call our member support team at 585.454.5900 x5 and ask them to move your email address or U.S. mobile phone number to your financial institution so you can use it for Zelle®.

Once member support moves your email address or U.S. mobile phone number, it will be connected to your bank account so you can start sending and receiving money with Zelle® through your banking app and online banking. Please call our member support team at 585.454.5900 x5 for help.