Advantage reduces credit card interest rates
Advantage Federal Credit Union is reducing interest rates for members with Advantage credit cards who have improved their credit rating, marking the 16th year the federal credit union has taken this action.
Advantage runs a program annually to evaluate the credit score of all credit card holders. If a member’s score improves to another credit tier, the rate is reduced to reflect that improved score.
Members who benefited from the recent interest rate decrease will save over $30,000 in interest this year, the credit union reported. Its practice of annual review and subsequent interest rate reduction has been in effect since 2007.
If a member’s credit score decreases, the credit union maintains the current rate, rather than increasing it.
“At Advantage, our core values lead us to make decisions by making sure we do the right thing for our members,” said Jeffrey Bocach, president and CEO. “We are proud to reward so many members during challenging financial times.”
Advantage Federal Credit Union has seven local branches and serves over 70 employee groups including the University of Rochester, Highland Hospital, Rochester Regional Health and Rochester Institute of Technology.
[email protected] / (585) 653-4021
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