Local Residents Get Free Access to Credit Score Program

UMB donation helps CHES clients improve their credit scores with Esusu

CHES, Inc. received a $400,000 donation from UMB Bank, n.a., to support underserved communities with housing needs and to help clients improve their credit scores using the rent-reporting and credit building platform, Esusu. This program is part of CHES’s broader housing relief efforts and rent assistance for communities that have been hit particularly hard by the pandemic and resulting recession.

CHES will use funds from the UMB donation to pay partial participant costs for Esusu, a mission-driven company that reports rent payments to the major credit bureaus for credit building. CHES covers the cost of Esusu to give renters the greatest chance to pull out of this economic crisis.

Through this partnership, CHES clients can improve their credit scores by having their rent reported to major credit bureaus including Equifax and Transunion. Esusu can report up to 24 months of on-time payments, and renters can increase credit scores in just a few cycles. It’s a tremendous boost for renters, getting them credit for something they were doing already.

“Through the generous support of UMB Bank, CHES, Inc. is excited to partner with Esusu to provide this exciting opportunity for our clients to grow and expand their credit scores in ways previously unavailable. This important addition to our services will provide greater homeownership opportunities directly to underserved communities,” said Coley Williams, President and Co-Founder of CHES.

As a HUD-approved housing and financial empowerment organization, CHES has provided detailed financial, credit, and homeownership empowerment programming to the Kansas City Metropolitan area since 2010.

Specifically, the organization’s financial empowerment programming includes budgeting, becoming banked, setting immediate, short- and long-term financial goals, and building assets. Successful outcomes include area low-to-moderate income households becoming financially sustainable and mortgage and/or consumer lending ready.

With so many changes in lending regulations, consumers may find it difficult to establish credit. Consumers who have never had credit or haven’t had access to credit for several years find it particularly challenging to establish and stabilize their credit profiles. Building a credit score doesn’t happen overnight. CHES programs guide consumers to build or re-build credit in a way that is timely, effective, safe, and fits within their financial goals.