Metro 2 Credit Bureau Reporting
Mercury is the first credit union core system to integrate Metro 2 format credit bureau reporting. Mercury clients are able to report member credit histories to any of the three major credit-reporting agencies from within the Mercury software itself. There is no additional cost for this capability, nor is additional software required to generate Metro 2 reporting files.
Mercury users generate the file within Mercury — as simple as that. No add-on modules, no additional fees to the credit union to create the reporting file. The Metro 2 format reporting capability is built into all current versions of Mercury and the format is accepted by all three major credit bureaus. Likewise, this capability is also built into CCCorp's Mercury-On-Demand™.
CCCorp's Director clients currently reporting member histories to the bureaus by other means may continue to do so. CCCorp currently provides a credit reporting service to our clients, and will continue providing this service as long as the demand exists. On the other hand, Mercury clients are able to utilize the Metro 2 capability to save time and money.
Only three easy steps are required to begin using the Metro 2 reporting capability of Mercury and Mercury-On-Demand:
- Establish an account relationship with the credit bureaus of choice
- Obtain the ID numbers required for member data to be accepted and file transmission instructions from each of the selected credit bureaus
- Create a test file with Mercury or Mercury-On-Demand and transmit to the credit bureaus following their transmission instructions
Once the test file is accepted by the credit bureau, Mercury users may then create reporting files and transmit them to the credit bureaus monthly.
