Maryland Heights

1805 Craigshire Road
Maryland Heights, MO 63146


16500 Manchester Road
Wildwood, MO 63040

Manchester (Lafayette Center)

407 Lafayette Center Road
Manchester, MO 63011

South County (Tesson Ferry)

12400 Tesson Ferry Road
St. Louis, MO 63128

CU Service Centers No-Fee ATMs

Loans For Your Personal and Business Goals

As your life changes, your credit union goes with you. Buying a car, going to college, getting married – life's most momentous occasions often come with a bill. Electro Savings can help you meet these financial challenges with a low-rate personal loan. Use it to consolidate your debt or to help finance your life's adventures. You can apply online quickly and easily for the type of loan you need. Count on great rates and personal service with Electro Savings Loans and Credit Cards. With a variety of options and terms, you can borrow based on your needs.

The Five Factors That Affect Your Credit Score

Establishing and maintaining good credit is a balancing act. Your credit score is constantly changing based on how you handle your finances. Your score is just a reflection of your credit information in a moment in time. Here are five factors that impact your credit. Some seem like they work against each other, but it is all in how you balance and manage each that in the long run will help you improve and maintain a good credit score.

  1. Payment History (35%) - Do you pay your bills on time? You may think paying your bills late is no big deal, but your credit score could drop as much as 50 points for being past due.
  2. Amount You Owe (30%) - This is the amount you owe on your credit card as compared to your available credit on the card. Paying down debt, keeping it down and raising your available credit limit (but not using the higher limit) will all positively influence your overall credit.
  3. Length Of Credit History (15%) - The longer you've had established credit in your name, the better. It is important to have good established credit in your own name. This may sound odd, but if you don't have credit in your own name, open a credit card in your name, charge a small amount once a month and then pay it off each month - ON TIME. This will help you establish good credit.
  4. New Credit (10%) - This may sound contradictory to the bullet above, but too much new credit will pull down your score. Opening that store credit card to get 10% off isn't worth it if you're planning on financing a house or car in the near future. New credit (less than 2 years old) will negatively impact your score right now.
  5. Type Of Credit (10%) - Loans with fixed terms and payments, such as real estate, vehicle or fixed-term personal loans have a better credit bureau ranking than revolving lines of credit like credit cards. Even when it comes to credit cards, major credit cards such as MasterCard, Visa, American Express or Discover rank higher than store cards. When you can, borrow on a fixed-term loan with set payments, and when you do have credit cards, try to have major card brands.

Learn more about Credit Scoring at GreenPath University.