Rate Increase Letter

Periodically, we review our loan portfolio to evaluate our members’ rates on their loans with (Credit Union). The interest rate applied to your (Account) is based on your overall credit history. These rates are subject to adjustment using credit information available at the time of the review.

We have recently conducted such a review. Based on the information in your credit report, the rate on your (Account) has been adjusted. As of (Date) all existing balances and new activity will be converted to the new rate.

Your new rate is (New Rate)
Your previous rate was (Old Rate)

Your monthly payment will not change as a result of this adjustment. For more information about this change, please contact (Credit Union) at (Phone Number). The credit information used to determine this change in rate was provided by (Credit Bureau). To view a copy of your credit report, contact (Credit Bureau at Phone Number/ Website).

To provide assistance with all aspects of personal finance – including credit reports – (Credit Union) has partnered with BALANCE, a financial education and counseling service. BALANCE counselors can help you interpret the information on your credit report and take the necessary steps to improve and maintain your credit standing. Contact BALANCE at 888-456-2227 or www.balancepro.net.