• Billions in Lending Opportunity Unlocked: Migration to VantageScore 4.0 unlocks $2.1 billion in lending opportunities for underserved, creditworthy borrowers in the AmeriCU footprint
• Expanding Access for More Creditworthy Borrowers: An estimated 70,000 additional individuals within the AmeriCU regional footprint can be scored with VantageScore 4.0
• Driving Financial Inclusion: AmeriCU today serves more than 167,000 members throughout central and northern New York, with a focus on helping American service members achieve their financial goals

SAN FRANCISCO – December 12, 2024 – AmeriCU Credit Union, a New York-based credit union dedicated to serving the community, announced today it will use VantageScore 4.0 for mortgage to expand lending opportunities for its members beginning in 2025. AmeriCU’s decision comes just weeks after the Federal Home Loan Bank of New York (FHLBNY) announced its members may pledge mortgage collateral using VantageScore 4.0 credit scores, which considers rental payment and other data points not included in traditional credit scores. In 2018, President-elect Trump signed into law the “Credit Score Competition Act” as part of the “Economic Growth, Regulatory Relief and Consumer Protection Act,” ushering in a new era in homeownership. This resulted in the Federal Housing Finance Agency (FHFA) mandating mortgage lenders must transition to more predictive and inclusive credit scoring models including VantageScore 4.0 in 2025.

The adoption of VantageScore 4.0 credit scores enables AmeriCU and the FHLBNY to expand their reach to more diverse and creditworthy borrowers, helping close the homeownership gap for individuals who have been underserved and unrecognized by other commonly used credit scoring models, including rural Americans, service members and veterans.

Using VantageScore 4.0, AmeriCU estimates it can score approximately 70,000 additional individuals within its regional footprint, particularly those with scores in the 600–700 range—a demographic historically underserved by traditional credit models. This represents a potential $2.1 billion in lending opportunities, empowering more individuals and families to achieve the dream of homeownership (Source: VantageScore Inclusion360®). Founded in 1950, AmeriCU today serves more than 167,000 members throughout central and northern New York.

“At AmeriCU, our mission is rooted in creating financial opportunities and delivering exceptional service to our community members,” said Stephanie McGuire, Chief Lending Officer at AmeriCU Credit Union. “Adopting VantageScore 4.0 allows us to better serve a broader range of creditworthy borrowers, including those who have traditionally been overlooked. This partnership strengthens our ability to help our members achieve their dream of homeownership, which is central to our commitment to improving financial health and access across the communities we serve.”

We are proud to partner with AmeriCU to adopt VantageScore 4.0 for mortgage lending to better serve their members,” said Tony Hutchinson, SVP of Industry and Government Relations at VantageScore. “AmeriCU exemplifies the dedication of financial institutions that are working to close the homeownership gap by expanding opportunities for unscored and underserved borrowers.

AmeriCU joins the Veterans Administration and some of the largest Federal Home Loan Banks, including New York, Chicago and San Francisco, in utilizing VantageScore 4.0 for mortgages. Following a request by Reps. Ritchie Torres and Gregory W. Meeks to begin accepting mortgage collateral originated using alternative credit scores, the FHLBNY initiated a review of its ability to incorporate VantageScore 4.0 into its collateral processes. By adopting VantageScore 4.0, the FHLBNY can now reach an estimated 3.1 million additional consumers within the FHLBNY’s District, which comprises New York, New Jersey, Puerto Rico and the U.S. Virgin Islands.

For more information about VantageScore 4.0 for Mortgage, lenders can visit the VantageScore Mortgage Conversion Center to access a comprehensive set of tools and guidance to help with their transition to the new credit score model.

About AmeriCU
As a credit union, AmeriCU is a not-for-profit financial institution owned by our members. Serving 24 counties in New York and beyond, AmeriCU provides you with all the products and services you need – often with low or no fees, and better rates. The organization has been serving the local community for over 74 years and, in that time, has grown to more than 167,000 members, 20 financial centers, and $2.7 billion in assets. AmeriCU is located in Central New York and is among the State’s largest, full-service financial cooperatives.

About VantageScore®
VantageScore is the fastest-growing credit scoring company in the U.S., and is known for the industry’s most innovative, predictive, and inclusive credit score models. In 2023, usage of VantageScore increased by 42% to more than 27 billion credit scores. More than 3,400 institutions, including 8 of the top 10 banks, use VantageScore credit scores to provide consumer credit products including credit cards, auto loans, personal loans and mortgages. The VantageScore 4.0 credit scoring model scores 33 million more people than traditional models. With the FHFA mandating the use of VantageScore 4.0 for Fannie Mae and Freddie Mac guaranteed mortgages, the company is also ushering in a new era for mortgage lending and helping to close the homeownership gap.

VantageScore is an independently managed joint venture company of the three Nationwide Consumer Reporting Agencies (NCRAs) – Equifax, Experian, and TransUnion.