Page 11 - District 20-K1 Kings & Queens SUMMER-JUNE EDITION 2022

YOUR FINANCIAL JOURNAL

and YOUR MENTAL HEALTH

A discussion about “Mental Health and BUILDING CREDIT:
Wellness” is incomplete without a sub-
section about “Financial Health”. Make credit / loan
Financial Stress affects individuals’ payments payments on
mental health, emotional health and time.
physical health. • Use credit wisely to
build assets. Make your
For our Virtual Mental Health Night on rent and utilities count.
May 16, 2022, Ms.Tayumika Zurita, Chase
VP Community Manager, was a guest • Have landlords and
speaker, invited by Lion Sandrina Kingston utility companies report
(Brooklyn Crown Heights). The theme for your good credit habits
that session was “Your Financial
Journey: Tools for Building and to the Credit Bureaus.
Managing Credit”. WHO SEES YOUR
CREDIT:
Ms. Zurita offered the following • Employers (especially
informational tips to reduce stress: when conducting back- Ms. Tayumika Zurita, makes her presentation

CREDIT: The ability to buy now and pay ground checks),
later. When someone applies for credit, the Insurance Companies,
lending company wants to know the Phone and Utility
borrower’s risk level. Example – Will the Companies, Collection
individual pay on time or not at all? Agencies, Landlords,

CREDIT REPORTS: are like a resume, a Banks, Credit Card
detailed record of one’s credit history. Issuers and mortgage
Lenders report one’s credit history to the companies.
three Credit Bureaus (Experian, Equifax It was a very informative
and TransUnion).
session. Based upon the
CREDIT SCORE: A three-digit number wealth of information Some of the participants
considered predictive of certain behavior provided, individuals will
such as loan payment. now be able to cope better

Credit scores range from 300 – 850 with their Financial Journey
and reduce their level of
POOR CREDIT SCORE: 300-659
FAIR CREDIT SCORE: 660-718 stress.
GOOD CREDIT SCORE:729-779 Submitted by:
EXCELLENT CREDIT SCORE: 780-850
Lion Yolande Cadore
Ms. Zurita advised that it is important to District 20-K1, E-News
know that under Federal Law, you are Reporter
entitled to get a free copy of your credit
report annually. She further stated that an
inquiry stays on a credit report for up to
two years.