A New York CUSO has launched a credit report service it said adds value to the report by matching the consumer with credit unions and community banks with the best available loan rates.
Syphr LLC of Ferndale is a CUSO owned by $51 million Eastern New York FCU and several credit unions.
Its new service?www.morethanacreditreport.com?provides credit reports, scores and monitoring from the major bureaus and then connects the user to www.saveonyourloans.com, which offers to analyze the loan and show the consumer where they can get the best rate, and how much that will save them, using Syphr's RateMatch service.
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"As with all of our sites, we dedicate ourselves to providing consumers true value in an easy, straight forward fashion," said Chris Langley, president of Syphr and of ENY FCU. "We wanted to create a new affiliate site that evaluates their existing loans showing them where they are overspending and points them to better deals at a local, community-based bank or credit union so they can save money every month."
Syphr's RateMatch service uses patent-pending technology to match participating credit unions with thousands of credit report purchasers per month. RateMatch compares the loans on these reports with those of participating credit unions, shows the consumer how they can save money, then sends the consumer's information to the participating credit union or bank, the company said.
Working with Fiserv's Galaxy technology, Syphr also has developed the CreditMine, CreditMart, iSwitchKit and Member Relationship Plus solutions, the company said.
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