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| Risk Based Pricing: |
| Scott Associates Credit Union uses a risk based pricing policy to determine a members interest rate on many of our loan products. In grading a loan application, the credit bureau provides Scott Associates Credit Union with a calculated national risk score, which is then matched to a letter score of A+, A, B, C, D or E. Rates have been set according to a corresponding letter grade. A letter grade of an A+ would receive our best rate, while tiers A - E grades would each receive a slightly higher interest rate. |
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| The purpose of offering Risk Based loans is to help as many members as possible. We recognize that certain members represent more risk than others. We will not grant loans where the probability of repayment is very doubtful. We recognize the importance of managed risk. We also recognize we have members who are being charged extremely high rates with other lenders that we could help with a managed risk program, plus save these members substantial money while helping them rebuild their credit. |
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| *APR = Annual Percentage Rate. All loans are subject to qualification. |
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