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We’ve streamlined access to your 4Front smart credit Mastercard account!

Access to your 4Front smart credit Mastercard® account is now available directly from your online banking experience! Review your card's transaction history and balances, download statements and pay your bill inside online banking without having to utilize a separate website and maintain another set of login credentials.

Here's how:4Front CU Card Services

  1. Log into Online Banking using your existing online banking username and password.
  2. Select Credit Card Services, located under the Transactions menu.

4Front CU Online Banking changes

 

 

  1. Choose a credit card to manage.
  2. To ensure uninterrupted access to this new feature, confirm your contact information is accurate by visiting Update Contact Info in the Services menu.
Got it. Take me to Online Credit Card Access   Credit Card
4Front Credit Union

Alert!

Virtual and telephone banking maintenance Sunday, October 4 from 6 am - noon ET

During this timeframe, 4Front virtual banking (online and mobile) will remain available for use; however, account balances and transaction histories may not reflect current day transactions until maintenance is completed. Telephone banking will not be available in any capacity during this window. Additional services such as our Connected Lending online loan application and Autobooks business accounting platform may also be impacted.

US 31 (Traverse City) drive-thru unavailable beginning Tuesday, 9/8 for VideoTeller installation.

Drive-thru services at our Traverse City US 31 location will close beginning Tuesday, September 8 for the installation of our VideoTeller in-car express banking technology. We expect the installation to be completed on or around Thursday, October 1. VideoTeller offers extended hours (Monday through Friday 7 am - 7 pm and Saturdays 9 am - 2 pm) and enhanced service capabilities to in-car banking.

We're expanding our US 31 location's lobby hours to better serve you during construction. Beginning Tuesday, September 8, our lobby will be open 8 am - 6 pm Monday through Friday and Saturdays 9 am - 2 pm.

If you prefer to bank from your vehicle, please note that our Traverse City W. Front Street location is just a short distance away and features brand-new VideoTeller terminals. And don't forget that our virtual and mobile banking services offer plenty of contactless ways to manage your money.

LEARN MORE

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We’ve streamlined access to your 4Front smart credit Mastercard account!

Access to your 4Front smart credit Mastercard® account is now available directly from your online banking experience! Review your card's transaction history and balances, download statements and pay your bill inside online banking without having to utilize a separate website and maintain another set of login credentials.

Here's how:4Front CU Card Services

  1. Log into Online Banking using your existing online banking username and password.
  2. Select Credit Card Services, located under the Transactions menu.

4Front CU Online Banking changes

 

 

  1. Choose a credit card to manage.
  2. To ensure uninterrupted access to this new feature, confirm your contact information is accurate by visiting Update Contact Info in the Services menu.
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VantageScore® Model vs. FICO® Model

Just like every other industry, the financial services sector continually evolves. Whether it be automated teller machines (ATMs) in 1969, internet banking in 1983, or chipped smart debit and credit cards in 2015, banking technology and services constantly seek to identify better ways to serve members/customer. Personal credit scoring is no exception to this.

Seeking Consistency  Developing the VantageScore model

The three major credit bureaus -- Equifax, Experian and TransUnion -- determined that creating a single credit scoring model that would be consistent among all three credit bureaus would not only make it easier for financial institutions to make intelligent lending decisions, but would also generate credit scores for millions of consumers who were previously unscoreable. Prior to the development of VantageScore in 2006, each of the three bureaus used their own credit scoring model, leading to differences in credit scores even for the same credit report. VantageScore 3.0, the current model, was created in 2016.

Similar, but Different  How VantageScore 3.0 differs from FICO 8

While VantageScore 3.0 and FICO 8 share a fair amount of similarity, four slight differences exist between the two models.

Length of required credit history. In order to generate a FICO Score, a consumer must have one or more credit accounts open for a minimum of six months and at least one account that has reported to the credit bureaus within the past six months. Conversely, VantageScore can utilize credit data from just a single month's history and with one account having reported within the prior 24 months. This means the VantageScore model is more likely to be able to score individuals who are new to credit and/or use it less frequently.

Number of credit inquiries. Applications for credit cards, mortgages, auto loans or other financing can negatively impact your credit score. It makes good sense to apply for multiple credit lines to ensure you receive the best deal you can, but this can also negatively impact your score if multiple inquiries are too far apart. The FICO Score model considers multiple inquiries for the same type of credit within a 45-day period as single inquiries. The VantageScore model allows for multiple inquiries to be considered a single inquiry within a reduced 14-day period, but also allows for different inquiry types (i.e.. auto and mortgage) within that 14-day stretch to be considered a single inquiry.

Consideration of trends. The FICO model generates your credit score based upon borrowing and credit utilization reported to the credit bureaus at the time the score is generated. Conversely, the VantageScore model considers data that shows patterns of behavior over time. To use a travel analogy, your FICO score typically shows that you've arrived at a particular location, it doesn't really care how you got there. Your VantageScore score, on the other hand, may award additional consideration for responsible "routes" you took along the way.

Scoring criteria weighting. Both FICO 8 and VantageScore 3.0 use similar scoring criteria, but the criteria are weighted a bit differently. Below is a comparison of the criteria and associated weighting that comprises the two models.

VantageScore FICO criteria comparison

Truly, the FICO and VantageScore models share far more similarities than differences. Both models seek to offer a fair estimation of creditworthiness to the borrower and lender, alike. It's important to be mindful that "credit-positive" behaviors like responsible use of credit, practicing good budgeting habits and paying bills on time, will generally reward you with a higher score for both models.

Transparency & Inclusiveness  VantageScore 3.0 offers benefits to consumers

On February 1, 2020, 4Front began utilizing VantageScore 3.0 in its rating of loan products. We've made this change for a several reasons. First, we're committed to transparency. It's important to us that our members have ready access to the same credit scoring model we use to determine credit-worthiness. The updated score and credit considerations members can access with Credit Score is the very same information 4Front will utilize when decisioning loan applications. Our members should possess peace of mind, knowing their current credit score and enjoy more control as they work to protect or improve their scores.

VantageScore 3.0 offers additional advantages to consumers. VantageScore 3.0 allows those new to credit to be scored sooner due to its expanded 300 - 850 scoring range. An individual scoring closer to 300 isn't likely to qualify for many credit offerings, but the perspective gained from being scored can assist them as they build their credit. Additionally, individuals who have experienced minor setbacks, including delinquencies incurred during natural disasters and paid collections, will find VantageScore 3.0 significantly more forgiving for these bumps in the road.

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CD Rates

Certificates of Deposit (Regular, Traditional & Roth IRA)
Effective Date: Thursday, September 24th, 2020
TermDividend RateAPY*Minimum
6 Mo 0.15% 0.15% $1,000
12 Mo 0.50% 0.50% $1,000
18 Mo 0.50% 0.50% $1,000
24 Mo 0.75% 0.75% $1,000
30 Mo 0.75% 0.75% $1,000
36 Mo 0.85% 0.85% $1,000
48 Mo 1.00% 1.00% $1,000
60 Mo 1.25% 1.26% $1,000

*Annual Percentage Yield, or the effective annual rate of return taking into account the effect of compounding interest. Fees may reduce earnings.

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