TransUnion Credit Ratings

TransUnion

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TransUnion Credit Ratings

TransUnion (full name Trans Union LLC) is one of the "big three" credit reporting agencies in the United States. Like their main competitors, Experian and Equifax, they now market their credit reports directly to consumers, in addition to their core business of providing the reports to potential creditors.

TransUnion was created in 1968 by Union Car Company as their holding company. Its credit business began with the purchase of Credit Bureau of Cook County (CBCC) in 1969. Today it operates 250 offices across the U.S. and in 24 countries worldwide. It is based in Chicago, Illinois. TransUnion was a subsidiary of The Marmon Group until January 2004. It is now an independent, privately held company.

In 1968, the Union Tank Car Company (UTC) a Fortune 500 company, made a decision to enter the automated credit reporting industry because of its emerging “infant technology” status and the low purchase price of credit bureaus in major US cities. This price anomaly was brought about by the appearance of automated credit reporting competitors like aerospace-minded TRW (Later to merge with the Chilton credit operation in Dallas and now called Experian); the nascent operations in Houston (sponsored in part by the Association of Credit Bureaus(ACB)); and traditional credit-bureaus in Oregon mananged by CBI West, Inc., a subsidiary of Retail Credit, Inc. (later to be called Equifax), which produced the atmosphere of radical change in the industry and a great deal of concern about the future of the traditional paper-based industry -- with good reason.

Trans Union was built from acquisitions of major city credit bureaus, with service agreements with local owners of bureaus which were not for sale, by using the technology and skills inherent in the CRONUS system to deliver an economic service to credit grantors in a complex competitive environment. In addition, Trans Unoin acquired and converted a major West Coast automated Credit Bureau to become a national company.

Subsequently, of course, Trans Union Systems acquired more credit bureaus and modernized every aspect of the technical operation in tune with more modern technology, and added many other credit-related services.
When Transunion (the Fortune 500 parent company) was purchased by the Marmon Group in Chicago in 1981, the credit operations were re-named Trans Union, and the other operating entities of the parent reverted to their historical names, like Union Tank Car Company specializing in leasing rail car equipment for agricultural and chemical industries, and the other information technology businesses of Trans Union Systems.

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It uses material from the Wikipedia article "TransUnion".

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