Equifax Inc. is a consumer credit reporting agency in the United States, considered one of the three largest American credit agencies along with Experian and TransUnion. Founded in 1899, Equifax is the oldest of the three agencies and gathers and maintains information on over 400 million credit holders worldwide. Based in Atlanta, Georgia, Equifax is a global service provider with US $1.5 billion in annual revenue and 7,000+ employees in 14 countries. Equifax is listed on the NYSE.
Equifax was founded as Retail Credit Company in 1899. The company grew quickly and by 1920 had offices throughout the US and Canada. By the 1960s, Retail Credit Company was one of the nation's largest credit bureaus, holding files on millions of American and Canadian citizens.
Retail Credit Company's extensive information holdings, and its willingness to sell them to anyone, attracted criticism of the company in the 1960s and 1970s. These included that it collected "...facts, statistics, inaccuracies and rumors… about virtually every phase of a person's life; his marital troubles, jobs, school history, childhood, sex life, and political activities." The company was also alleged to reward its employees for collecting negative information on consumers.
The Equifax 401(k) Plan (“Plan”) is designed to help employee's save money for retirement. Salaried employees may enroll immediately. Fidelity Investments is both the record keeper and trustee of assets for our Plan.
Through payroll deductions, employees may contribute up to 30 percent of their bi-weekly eligible compensation in the Plan. Employee contributions are eligible for a discretionary company match.
The Plan offers employees three savings options: before-tax contributions offering maximum current tax advantages, traditional after-tax contributions allowing in-service withdrawal of contributions and Roth after-tax contributions. Participants may elect before-tax, traditional after-tax or Roth after-tax contributions, or combination of the three. Employees currently have a choice of 25 investment funds.
Medical
Equifax offers a Point of Service Plan (POS) through Aetna, where employees have the freedom of seeing any doctor at any time. In-network or out-of-network services are both available – your costs differ depending on whether you use a participating provider. Preventive Care is covered if you use an in-network doctor, and deductibles and out-of-pocket maximums apply to most in- or out-of-network charges. (Out-of-Network services are subject to reasonable and customary charges.)
Equifax also offers most employees an Exclusive Provider Organization (EPO) Plan through Aetna, one of the premier EPO networks in the country.
Dental
Participants may choose from Aetna’s nationwide network of preferred dentists who provide quality services at special, reduced rates – or they may choose any other dentist. The participant’s portion of the cost is lower when they use a preferred dentist.
Vision
Participants may choose from the EyeMed’s nationwide network of optometrists and ophthalmologists – or any other eye doctor. The cost to participants is usually less when they use a network provider. The copayment is $15 for eye exams and $25 for lenses and frames. There are limits on the amounts paid for contacts and benefits outside the network.
Short-Term Disability
Equifax pays the full cost of this plan. It will automatically continue an eligible employee’s salary after they have been disabled five consecutive days, if the disability continues and the employee provides adequate medical documentation to support the disability. Employees with at least six months of service with Equifax will receive 100% of their normal salary for the first five days of disability (a total of five in any one calendar year), and 70% of their normal salary for the remainder of their eligible disability period, with a maximum pay of 90 days.
Long-Term Diability
Equifax will provide coverage through Liberty Mutual equal to 50% of an employee’s salary the first day of employment. Employees are also eligible to participate in the LTD Supplemental Income Protection (SIP) Plan through UnumProvident. This “buy-up” plan allows participants to protect more of their income – an additional 10% (a benefit of 60% of base salary) or an additional 20% (a benefit of 70% of your total compensation including incentives, commissions, etc.). Benefits are available after 90 consecutive days of disability.
Before-Tax Premium
Participants' premiums for the Medical, Dental or Vision Plans are taken on a before-tax basis.
Dependent Care Account
Participants may set aside before-tax dollars for eligible dependent care expenses they expect to pay during the year. After paying these expenses, participants are reimbursed from their accounts in tax-free dollars.
Health Care Account
Participants may set aside before-tax dollars for health, vision and dental expenses they expect to pay out-of-pocket during the year. After they pay these expenses, they are reimbursed from their account in tax-free dollars.
Basic Life/Supplemental Life
All employees receive basic life insurance coverage through Liberty Mutual of 1x base salary immediately upon hire. Employees have the opportunity to buy supplemental life coverage up to 4x their base salary (up to $1 million). There will be one beneficiary for both Basic Life and Supplemental Life Insurance.
Vacation
Equifax provides employees with annual paid time off that increases with their length of service.
Holidays
Equifax provides employees with 9 paid holidays to be taken during each calendar year. The seven standard holidays are New Year’s Day, Martin Luther King Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. Each Equifax location provides employees with two additional “floating” paid holidays.
Short-Term Absence
The company provides time off with pay for an employee’s personal or family illness, emergencies, doctor appointments, jury duty, etc. Manager approval is required.
Tuition Aid
Equifax helps employees pay for business-related courses toward associate, bachelor’s, master’s and doctorate degrees, or certificates related to their job—certain limits apply.
Matching Gifts Program
Each year, Equifax will match employee donations between $50 and $5,000 to IRS certified charitable organizations.
Employee Assistance and Work Life Program
The Equifax Employee Assistance (EAP) and Work Life Program is managed by Ceridian through the "LifeWorks" Program. The EAP provides confidential 24/7 assistance in resolving emotional, drug, alcohol, financial, marital and stress-related problems for Equifax employees and their immediate families. The cost for consultation with the EAP counselor is fully paid by Equifax. Work-Life services will provide employees and their families the ability to take advantage of focused counselors on adoption, child and elder care, disability, financial and legal matters. Employees have online access to educational and informational materials such as booklets, CDs and audiotapes.
Slavenski offered a few examples of Equifax University initiatives that have had a significant impact. One of these included a rigorous assessment program for the organization�s sales force. �In our sales arena, we have a certification program that certifies employees on our products,� she said. �That�s one method of quality control. That works better inside of the United States, frankly, than outside the United States right now. We�ve mostly worked on the sales product certification here, but we�re planning to take it to other countries.�
This and other curricula have elevated the proficiency of Equifax�s sales professionals, and helped them adjust to shifting organizational needs, said Dann Adams, senior vice president of the company�s North American information services division. �Equifax University has played a crucial role in helping us transform our sales organization from problem solving to demand creation,� he said. �EU took a holistic approach, which included alignment, selection, training, coaching, performance management and governance. Demand creation is now (helping) and will continue to help us differentiate ourselves in the marketplace now and in the future. We could not have done it without them. They have been great partners.�
Another notable offering is the Equifax University mentoring program, in which key senior-level personnel counsel roughly 50 high-potential employees each year on leadership and management essentials. This program has born fruit in terms of both development and retention. �Seventy-seven percent of the mentees in the past three years have been promoted or moved laterally, and there�s been only 2 percent turnover with mentees versus the organization�s average 10 percent turnover,� Slavenski said.
Equifax limits the use, disclosure and retention of your credit information in accordance with applicable credit reporting and privacy laws. An Equifax customer must have your consent and a purpose permitted by law to access Equifax consumer credit reports. All Equifax customers are required to go through the Equifax application screening process and access is not granted to all applicants. The customers that are accepted by Equifax are carefully screened and contractually obliged to respect and abide by all applicable credit reporting and privacy laws. Equifax conducts periodic audits to ensure that Equifax customers are acting in compliance with their contractual and legal obligations.
As a Canadian consumer, you have the right to know the full and complete content of your Equifax consumer credit file. Equifax will disclose your credit information to you free of charge by mail or telephone. Equifax will respond to any questions or concerns that you may have regarding your Equifax consumer credit file. For information about how to obtain a copy of your personal information, please refer to the FAQ section at the end of this Policy.
Credit information in your consumer credit file is maintained in accordance with legislated data retention guidelines.
Equifax helps consumers and businesses complete financial transactions such as credit card applications, car loans, instalment purchases, and home purchases by providing credit grantors with access to accurate information about a consumers’ credit history. Equifax also provides products and services directly to consumers to help them monitor and protect their personal information. In the course of its business operations, Equifax collects, uses and discloses personal information, as defined by the Personal Information Protection and Electronic Documents Act ("PIPEDA"), about individual consumers.
This Policy outlines our commitments to you regarding personal information collected, used and disclosed in Equifax consumer credit reporting operations. It also addresses how Equifax collects, uses and discloses personal information that you provide to us as a consumer when accessing our services and products directly. Equifax takes your right to privacy and the protection of your personal information very seriously, and has incorporated the ten core principles set out in PIPEDA into our Privacy Policy.
Equifax was founded as Retail Credit Company in 1899. The company grew quickly and by 1920 had offices throughout the US and Canada. By the 1960s, Retail Credit Company was one of the nation's largest credit bureaus, holding files on millions of American and Canadian citizens.
Retail Credit Company's extensive information holdings, and its willingness to sell them to anyone, attracted criticism of the company in the 1960s and 1970s. These included that it collected "...facts, statistics, inaccuracies and rumors… about virtually every phase of a person's life; his marital troubles, jobs, school history, childhood, sex life, and political activities." The company was also alleged to reward its employees for collecting negative information on consumers.
The Equifax 401(k) Plan (“Plan”) is designed to help employee's save money for retirement. Salaried employees may enroll immediately. Fidelity Investments is both the record keeper and trustee of assets for our Plan.
Through payroll deductions, employees may contribute up to 30 percent of their bi-weekly eligible compensation in the Plan. Employee contributions are eligible for a discretionary company match.
The Plan offers employees three savings options: before-tax contributions offering maximum current tax advantages, traditional after-tax contributions allowing in-service withdrawal of contributions and Roth after-tax contributions. Participants may elect before-tax, traditional after-tax or Roth after-tax contributions, or combination of the three. Employees currently have a choice of 25 investment funds.
Medical
Equifax offers a Point of Service Plan (POS) through Aetna, where employees have the freedom of seeing any doctor at any time. In-network or out-of-network services are both available – your costs differ depending on whether you use a participating provider. Preventive Care is covered if you use an in-network doctor, and deductibles and out-of-pocket maximums apply to most in- or out-of-network charges. (Out-of-Network services are subject to reasonable and customary charges.)
Equifax also offers most employees an Exclusive Provider Organization (EPO) Plan through Aetna, one of the premier EPO networks in the country.
Dental
Participants may choose from Aetna’s nationwide network of preferred dentists who provide quality services at special, reduced rates – or they may choose any other dentist. The participant’s portion of the cost is lower when they use a preferred dentist.
Vision
Participants may choose from the EyeMed’s nationwide network of optometrists and ophthalmologists – or any other eye doctor. The cost to participants is usually less when they use a network provider. The copayment is $15 for eye exams and $25 for lenses and frames. There are limits on the amounts paid for contacts and benefits outside the network.
Short-Term Disability
Equifax pays the full cost of this plan. It will automatically continue an eligible employee’s salary after they have been disabled five consecutive days, if the disability continues and the employee provides adequate medical documentation to support the disability. Employees with at least six months of service with Equifax will receive 100% of their normal salary for the first five days of disability (a total of five in any one calendar year), and 70% of their normal salary for the remainder of their eligible disability period, with a maximum pay of 90 days.
Long-Term Diability
Equifax will provide coverage through Liberty Mutual equal to 50% of an employee’s salary the first day of employment. Employees are also eligible to participate in the LTD Supplemental Income Protection (SIP) Plan through UnumProvident. This “buy-up” plan allows participants to protect more of their income – an additional 10% (a benefit of 60% of base salary) or an additional 20% (a benefit of 70% of your total compensation including incentives, commissions, etc.). Benefits are available after 90 consecutive days of disability.
Before-Tax Premium
Participants' premiums for the Medical, Dental or Vision Plans are taken on a before-tax basis.
Dependent Care Account
Participants may set aside before-tax dollars for eligible dependent care expenses they expect to pay during the year. After paying these expenses, participants are reimbursed from their accounts in tax-free dollars.
Health Care Account
Participants may set aside before-tax dollars for health, vision and dental expenses they expect to pay out-of-pocket during the year. After they pay these expenses, they are reimbursed from their account in tax-free dollars.
Basic Life/Supplemental Life
All employees receive basic life insurance coverage through Liberty Mutual of 1x base salary immediately upon hire. Employees have the opportunity to buy supplemental life coverage up to 4x their base salary (up to $1 million). There will be one beneficiary for both Basic Life and Supplemental Life Insurance.
Vacation
Equifax provides employees with annual paid time off that increases with their length of service.
Holidays
Equifax provides employees with 9 paid holidays to be taken during each calendar year. The seven standard holidays are New Year’s Day, Martin Luther King Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day. Each Equifax location provides employees with two additional “floating” paid holidays.
Short-Term Absence
The company provides time off with pay for an employee’s personal or family illness, emergencies, doctor appointments, jury duty, etc. Manager approval is required.
Tuition Aid
Equifax helps employees pay for business-related courses toward associate, bachelor’s, master’s and doctorate degrees, or certificates related to their job—certain limits apply.
Matching Gifts Program
Each year, Equifax will match employee donations between $50 and $5,000 to IRS certified charitable organizations.
Employee Assistance and Work Life Program
The Equifax Employee Assistance (EAP) and Work Life Program is managed by Ceridian through the "LifeWorks" Program. The EAP provides confidential 24/7 assistance in resolving emotional, drug, alcohol, financial, marital and stress-related problems for Equifax employees and their immediate families. The cost for consultation with the EAP counselor is fully paid by Equifax. Work-Life services will provide employees and their families the ability to take advantage of focused counselors on adoption, child and elder care, disability, financial and legal matters. Employees have online access to educational and informational materials such as booklets, CDs and audiotapes.
Slavenski offered a few examples of Equifax University initiatives that have had a significant impact. One of these included a rigorous assessment program for the organization�s sales force. �In our sales arena, we have a certification program that certifies employees on our products,� she said. �That�s one method of quality control. That works better inside of the United States, frankly, than outside the United States right now. We�ve mostly worked on the sales product certification here, but we�re planning to take it to other countries.�
This and other curricula have elevated the proficiency of Equifax�s sales professionals, and helped them adjust to shifting organizational needs, said Dann Adams, senior vice president of the company�s North American information services division. �Equifax University has played a crucial role in helping us transform our sales organization from problem solving to demand creation,� he said. �EU took a holistic approach, which included alignment, selection, training, coaching, performance management and governance. Demand creation is now (helping) and will continue to help us differentiate ourselves in the marketplace now and in the future. We could not have done it without them. They have been great partners.�
Another notable offering is the Equifax University mentoring program, in which key senior-level personnel counsel roughly 50 high-potential employees each year on leadership and management essentials. This program has born fruit in terms of both development and retention. �Seventy-seven percent of the mentees in the past three years have been promoted or moved laterally, and there�s been only 2 percent turnover with mentees versus the organization�s average 10 percent turnover,� Slavenski said.
Equifax limits the use, disclosure and retention of your credit information in accordance with applicable credit reporting and privacy laws. An Equifax customer must have your consent and a purpose permitted by law to access Equifax consumer credit reports. All Equifax customers are required to go through the Equifax application screening process and access is not granted to all applicants. The customers that are accepted by Equifax are carefully screened and contractually obliged to respect and abide by all applicable credit reporting and privacy laws. Equifax conducts periodic audits to ensure that Equifax customers are acting in compliance with their contractual and legal obligations.
As a Canadian consumer, you have the right to know the full and complete content of your Equifax consumer credit file. Equifax will disclose your credit information to you free of charge by mail or telephone. Equifax will respond to any questions or concerns that you may have regarding your Equifax consumer credit file. For information about how to obtain a copy of your personal information, please refer to the FAQ section at the end of this Policy.
Credit information in your consumer credit file is maintained in accordance with legislated data retention guidelines.
Equifax helps consumers and businesses complete financial transactions such as credit card applications, car loans, instalment purchases, and home purchases by providing credit grantors with access to accurate information about a consumers’ credit history. Equifax also provides products and services directly to consumers to help them monitor and protect their personal information. In the course of its business operations, Equifax collects, uses and discloses personal information, as defined by the Personal Information Protection and Electronic Documents Act ("PIPEDA"), about individual consumers.
This Policy outlines our commitments to you regarding personal information collected, used and disclosed in Equifax consumer credit reporting operations. It also addresses how Equifax collects, uses and discloses personal information that you provide to us as a consumer when accessing our services and products directly. Equifax takes your right to privacy and the protection of your personal information very seriously, and has incorporated the ten core principles set out in PIPEDA into our Privacy Policy.
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