Norwood Personal Finance News | Norwood, MA Patch

I came across an interesting article today on Norwood Personal Finance News from Norwood, MA Patch. The article highlights a new report from the Credit Union National Association (CUNA) that reveals the average credit score in Massachusetts is on the rise, despite the economic challenges brought on by the COVID-19 pandemic.

According to the report, the average credit score in Massachusetts increased by 5 points from 2019 to 2020, reaching an all-time high of 726. This boost in credit scores can be attributed to various factors, including people being more mindful of their spending habits and taking advantage of debt relief programs provided by the government.

The report also indicates that residents of Massachusetts have lower credit card balances and fewer delinquencies than the national average. These trends suggest that people in the state are managing their finances well, despite the ongoing economic difficulties.

It’s encouraging to see that people in Massachusetts are taking steps to improve their financial health in the midst of a pandemic that has caused widespread uncertainty and hardship. The rise in credit scores is a testament to the resilience and adaptability of the state’s residents.

Overall, this article provides valuable insight into the current state of personal finance in Massachusetts and highlights the importance of responsible financial management. It’s an encouraging sign that people are taking steps to improve their financial health, and it’s a trend that we should all strive to follow.