DUBUQUE, Iowa—Saying it was on a mission to help its members build their credit scores for a brighter financial future, Dupaco Community Credit Union is reporting its Great Credit Race has produced several winners.
The six-month competition ended Nov. 15 in a three-way tie for first place and a two-way tie for second, according to the CU.
Dupaco said the race winners—Anna O., Kiernan S. and Brett B.—built their credit scores from 0 to 727. For their efforts, each won $1,000. Second-place finishers Dana E. and Nino E. both raised their scores to 721 and received $500.
“The competition provided an opportunity for the 12 racers to gain a better understanding of how credit works and how it impacts every stage of life,” Dupaco said.
Each racer received a Dupaco Platinum Visa credit card with a $1,000 limit and one-on-one credit and budget coaching.
“I learned how important your credit score is. It can affect you when you buy a car or home or get a job,” Anna was quoted as saying. “I’m glad I now know for the future how to continue keeping my credit score up.”
The credit union said the leading racers followed similar strategies, using their credit cards for smaller purchases and quickly paying off their balances.
“I feel like I can go out and know I have the knowledge to continue with a great credit score in the future,” Brett was quoted as saying. “Financial stability is possible. If you set your mind to a goal, you can achieve it.”
Dupaco’s Great Credit Race is one more way the credit union is fulfilling its mission to improve each member’s financial position, according to Jill Rothenberger, vice president, consumer lending. The credit union said the race complements its other products and services—including Credit History Lessons, Credit Coach loans and Bright Track credit score monitoring—that help members improve their scores and gain access to better rates.
“We want to give these young members the tools they need to be financially responsible,” Rothenberger says.