What is CBA Access?
CBA’s Access service is your one-stop shop for everything you need to know about credit reports and scores, ranging from score models and credit building best practices to webinars and online tutorials to outcome tracking and compliance.
We currently collaborate with five consumer reporting agencies:
- LexisNexis (for access to non-traditional and alternative credit data)
View a sample Riskview report
- Nova Credit (for access to overseas credit data)
- Hard and soft inquiries available for permissible purposes including underwriting, financial education/coaching, outcome tracking
- Multiple scores available for purchase
Types of Eligible Organizations:
- Microenterprise lenders underwriting new loans to start-up businesses
- Financial coaches setting up a household budget and credit building plan
- Workforce development coaches looking to identify any credit hurdles for job application prospects for a client
- Mortgage lender who is reporting loans through CBA and pulls annual reports on homeowners, with written authorization, to document the impact of reporting
Benefits of CBA Access!
Streamlined Credentialing and Credit Pulls
CBA Access delivers streamlined credentialing to organizations that are seeking credit reports for underwriting and/or financial education and outcome tracking of education. We guide members through documentation and site visit preparation, as well as online account set-up for credit pulls from the comfort of your computer. Our preferred partnerships with TransUnion and Experian mean that we have dedicated bureau staff to help troubleshoot account issues, answering questions in a timely, concise fashion.
Insights into Nonprofit Report Usage
Through both our network of practitioners and collective knowledge, we know the importance of access to credit reports and scores. Our insights from the field will maximize the impact of each and every credit report you pull, ensuring consistency in both financial education and outcome tracking. Whether your organization is new to credit reports or looking to expand your program, CBA is here to share best practices and trends from the nonprofit community.
Credit Report and Score Interpretation, Tutorials, and Resources
CBA offers a wide range of tools to help you interpret credit reports, including reason codes, delinquencies, account balances, and much more. And through our online tutorials and resources, Access members are able to learn about different score models and report types from industry experts including bureau analysts, government partners, and Alliance members. We also demonstrate how credit data is captured on credit reports, so that your organization can report credit data accurately each and every month.
Outcome Tracking Tools and Guidance
Our online toolkits are designed so that Access members can enhance their credit-building efforts and track outcomes for borrowers, internal stakeholders, funders, and government reporting. We highlight effective, cost-saving outcome tracking for organizations with impact in mind.
Federal Compliance Expertise
CBA provides resources for Access members to maintain federal compliance with the FCRA (Fair Credit Reporting Act). This includes best practices and tips on useful credit authorization forms and helpful education on permissible uses of different types of reports.
Who Benefits from Pulling?
#1: It’s Good for CBA Member Clients!
- Consumers Are Empowered by Knowing What Lenders and Other Businesses Might See on Their Credit Reports
- Depicts the Impact of Financial Behavior in Personal Terms
- Soft inquiries have no effect on scores
Click here for more information on credit reports and scores.
#2: It’s Good for Financial Coaches! (Soft Inquiries)
- Provides Personalized Information for More Effective Coaching
- Identify any Unknown or Incorrect Past Debts to Identify Solutions
- Generates Hard Data that Can be Used for Program Outcome Tracking
#3: It’s Good for Lender Underwriting! (Hard Inquiries)
- Helps Inform Underwriting Decision-Making
- Opportunity to Talk with Borrowers about Credit and its Impact in Personal Terms as Part of Lending Process
- Opportunity to Collect Baseline Data for Outcome Tracking
Click here for more information about outcome tracking
- One Time CBA Set Up Fee: $650 Per Bureau ($200 discount per additional bureau if set-up simultaneously)
- Annual CBA Access Renewal Fee: $100 per bureau
- CBA Membership Fee (paid annually): $315 or save $20 and pay only $295 if you remit payment within 30 days of the invoice date
- Reduced Site Visit Fee: $150 (TransUnion) and $75 (Experian)
- Monthly Minimum Fees: Waived
- Per Report (including score) Pricing: Dependent on volume
*Set up fee is an allowable use by the CDFI Fund (under TA professional services)
CBA’s Access services are restricted to credentialed CBA members in good standing only with a documented permissible purpose for accessing reports as defined by the Fair Credit Reporting Act. The purchase of TransUnion and Experian credit reports are also restricted as follows:
- Soft Inquiries may ONLY be used for the purpose of financial coaching or outcome tracking
- Hard Inquiries may ONLY be used for the purpose of underwriting
- FICO scores may be purchased, but they MAY NOT be shared with consumers unless your organization is participating in FICO’s Open Access for Credit and Financial Counseling program
- VantageScores may be purchased and shared with consumers in accordance with contracts signed with the credit bureaus
- CBA members must agree to and abide by all data handling requirements at all times.
Click here for more information on data handling.
How do I get started?
Contact CBA’s Membership team to discuss your organization’s goals, concerns, and review what the next steps are for you.