Routing Number: 272480694

Search
Close this search box.
Sign In

Sign In

Sign In

Sign In

A message to Members about Trigger Marketing

How do Credit Inquires Lead to Solicitation Calls?

When you apply for a Mortgage or Personal Loan, Preferred Credit Union will pull your credit report from one of the major credit reporting companies (TransUnion, Equifax, and Experian). We pull these report(s) to help us decide whether to approve or deny a borrower for new credit.

Why am I receiving marketing calls after my credit is pulled?

After PCU requests your credit report, the credit bureaus then collect the borrower’s personal information and sells them as a sales lead to other lenders who use this information to contact you in an attempt to win your business.

This practice known as event-based trigger marketing, is completely legal under the Fair Credit Reporting Act (FCRA), even though it is often an annoyance to the borrower. The credit agencies state that trigger marketing offers a borrower more choices and a way to compare prices and services.

How can I prevent my information from being sold?

Unfortunately, PCU cannot opt you out of these calls or prevent the credit agencies from selling your information. However, you have a few options to help prevent these unsolicited calls.  

  • Call 1-888-5-OPTOUT (1-888-567-8688) or visit www.optoutprescreen.com run by the major consumer reporting companies. You will be able to opt out of receiving trigger marketing calls for five years or even permanently.
  • Visit the National Do Not Call Registry or call 888.382.1222 run by the Federal Trade Commission (FTC). While this does not opt you out of the trigger leads process, you should not receive solicitation calls from other lenders. You can also use this site to file a formal complaint against the companies if you wish.
  • Visit www.dmachoice.org to prevent loan information being mailed to you. Please be aware there is a $2 charge for this request.
  • Contact the elected representative in your area. Find your representative here and offer a formal complaint. Enacting laws around trigger marketing calls would happen by passing legislation that changes the practice.

Learn more about Preferred Credit Union’s Privacy Policy and Security Standards.

Thank You for Making Us Your Preferred Financial Partner

Sincerely,
Preferred Credit Union