This code indicates how account information is reported to the Credit Bureau in keeping with the Equal Credit Opportunity Act. It can be placed on a loan record when it is created in the Loan Request screen, or updated later using Account Information Update.
IMPORTANT: Additional signer information will be reported to the credit bureau ONLY for loans that are assigned code.
NOTE: Former codes 0, 4, and 6 are no longer valid with Metro 2 credit reporting standards.
1 Individual account
2 Joint contractual responsibility
3 Authorized User
5 Co-Maker or Guarantor
7 Maker account
T No longer associated
Note: To use the "W" ECOA code, an additional signer must be present on the loan request prior to creating the loan.
Z Delete Consumer
If you are unsure which ECOA code to select for your member's loan, please contact your credit bureau representative.