|Wednesday, March 2, 2011
WASHINGTON — The FINRA Investor Education Foundation announced today that it is giving active duty servicemembers and their spouses access to their FICO® Scores and the educational information and tools in the FICO® Standard service from FICO.com. The FINRA Foundation is working with the Department of Defense's network of military financial educators and counselors to distribute the FICO® Standard service to the military community.
In addition to showing users their actual FICO® Score, used by most banks and lenders, the FICO® Standard service provides a FICO® Score Simulator that analyzes the effect of specific behaviors, such as the impact of paying off a credit card, opening a new account, reaching credit card limits, obtaining a car loan or missing a payment.
"The FINRA Foundation is providing free access to this vital credit management tool to help active duty servicemembers take real steps to achieve a more secure financial future," said FINRA Foundation President John Gannon.
Servicemembers and their spouses will have access to the FICO® Standard service through the extensive network of military financial educators and counselors who work on every military installation in the United States and around the world. The FINRA Foundation is working in partnership with FICOTM, the leader in credit scoring, to bring this helpful tool to the military community. Eligible personnel interested in obtaining their FICO® Scores should contact the military financial educator at their installation.
About the FINRA Investor Education Foundation
The FINRA Investor Education Foundation is the largest foundation in the United States dedicated to investor education. Its mission is to provide investors with high-quality, easily accessible information and tools to better understand the markets and the basic principles of saving and investing. In 2006, the Foundation launched a multifaceted program to expand the saving and investing knowledge of military servicemembers and their spouses, including a free, unbiased resource, www.SaveAndInvest.org/Military. A proud partner in the Department of Defense Financial Readiness Campaign, the Foundation also presents financial education forums at military installations worldwide.
FICO (NYSE:FICO) transforms business by making every decision count. FICO's Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO also helps millions of individuals manage their credit health through the www.myFICO.com website. Learn more about FICO at www.fico.com.