The National Foundation for Credit Counseling and Experian are collaborating in an effort to provide more effective borrower counseling assistance in 2014.
Experian is committing 80,000 free, 12-month memberships to NFCC customers nationwide through the freecreditscore.com website.
Experian is investing in “financial education intended to remove the mystery surrounding credit reports and scores,” said Victor Nichols, CEO of Experian North America. Memberships are expected “to simultaneously educate consumers and demonstrate the impact that credit education products can have on a person’s long-term financial wellness.”
Program features are designed to increase consumers’ understanding of credit and help them make educated financial decisions.
The goal is to enable counselors to help people be aware of their financial behaviors, good and bad, and use that “as a powerful motivator,” says Dawn Lockhart, president and CEO of NFCC Member Agency Family Foundations.
The freecreditscore.com membership includes access to Experian credit reports, credit scores along with credit monitoring, new activity alerts, mobile app alerts and updates, and access to fraud resolution agents. Plus, Experian’s “Score Planner” shows consumers how various financial actions impact credit scores.
It will support NFCC’s “Sharpen Your Financial Focus” program introduced to the public in September, “to complement financial education” services provided by NFCC member agencies.
In addition to online access to information the program offers one-on-one financial reviews with an NFCC certified financial professional and a financial education workshop.