Blog posts - M&F Bank

Protecting Seniors from Financial Abuse

Be organized, proactive, and aware to protect yourself, family and friends from financial abuse

It’s easier than ever to handle our finances without setting foot inside a bank with so many advances in technology, but these changes have also made fraud and financial abuse a prevalent problem for older adults. Most elder financial abuse involves scams, forgery, identity theft, or undue pressure to give someone access to property or funds by simply providing information over the phone.

What Is a Bad Credit Score?

Based on the FICO® Score* range of 300 to 850, a credit score below 669 is considered to be either fair or bad.

Lenders often refer to this group as “subprime,” which indicates borrowers who may have a hard time repaying a loan.
A bad credit score can be compared to a bad grade in school, a failing grade on a driving test, or getting bad results for any other type of assessment that uses a numerical ranking to judge performance. Getting the news that your credit scores might be less than stellar can be disheartening, but the good news is you are not stuck with your bad credit scores. Make improvements to a few key credit management habits, and over time, your score will improve.

What Is a Bad Credit Score?

Based on the FICO® Score* range of 300 to 850, a credit score below 669 is considered to be either fair or bad.

Trending Articles

M&F Bancorp, Inc. Announces Third Quarter 2022 Results and Quarterly Cash Dividend

Black-owned community banks have a long history of serving Americans historically left out...

What is the ECIP? Everything you need to know about the $80 million investment into M&F Bank.

The U.S. Treasury has invested $80 million into M&F Bancorp as part of the Emergency Capital Investment Program (ECIP). M&F Bank is using this funding to deepen our impact on small businesses and individuals in North Carolina by expanding lending and credit...

4 Ways Small Business Owners Can Prepare for Success in Uncertain Times

Small business owners have a lot to look out for today—inflation, supply chain disruptions, and employee recruitment are all top of mind. As of June 2022, inflation is currently at 9.1% year-over-year according to the U.S. Bureau of Labor. Supply chain disruptions...

M&F Bancorp, Inc. Announces Third Quarter 2022 Results and Quarterly Cash Dividend

Black-owned community banks have a long history of serving Americans historically left out...

What is the ECIP? Everything you need to know about the $80 million investment into M&F Bank.

4 Ways Small Business Owners Can Prepare for Success in Uncertain Times

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