(STILLWATER, OKLAHOMA / March 30, 2023) – The Stillwater Public Library (SPL) and Oklahoma Community Credit Union are hosting a free class on credit score management Thursday, April 13, at 6 p.m. Attendees will learn what a credit score is, how it is utilized and best practices to manage scores. Both adults and teens are welcome to register.


According to the Consumer Financial Protection Bureau (CFPB), credit scores are used by lenders to predict how well a potential consumer can pay back a loan and the amount of debt the consumer already holds. This information is used to determine if a loan should be approved and at what interest rate. Credit scores may also be used to determine initial deposits for services and rental approval. 


Penny Holt, vice president of marketing at Oklahoma Community, thinks that credit scores can be intimidating and even a little mysterious. She plans to help remove some of the mystery and give practical advice to help attendees boost their credit.


“We’ll go over the different ways to start building your credit and how to keep improving it over time,” Holt said. “Also, sometimes events happen and credit scores take a hit, so we will also look at steps to rebuild credit.”


The CFPB states that there are several reporting companies that rate consumers’ credit and that most scores range from 300 to 850, with higher numbers being better. Holt will review the elements involved with calculating a score and the factors that impact the numbers. 


“There are many aspects that go into figuring a credit score,” Holt said. “Knowing how the score is configured, who generates scores and where to find them is important to managing your score.” 


Community members just starting to build their credit and those desiring more knowledge about credit scores are encouraged to attend. For anyone unable to come to the class, the library has free information packets on a variety of finance topics from the CFPB that are available for pickup. Registration for the class is at library.stillwater.org/register.php.

The Stillwater Public Library is located at 1107 S. Duck St. Library hours are Monday- Wednesday, 9 a.m. to 7 p.m.; Thursday, 9 a.m. to 9 p.m.; Friday, 9 a.m. to 6 p.m.; Saturday, 9 a.m. to 4 p.m. and Sunday 1 p.m. to 5 p.m.