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8 smart habits AvalonBay Communities employees can adopt to help boost credit scores

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'Strong credit habits can give AvalonBay Communities employees greater flexibility when preparing for major financial decisions, especially as they transition toward retirement,' says Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'AvalonBay Communities employees who build and maintain strong credit habits may position themselves for smoother financial decisions in the years leading up to retirement,' says Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article, we will discuss:

How strong credit can support borrowing for major purchases.
Eight habits that may positively influence your credit score.
Ways to monitor and maintain the accuracy of your credit report.

When borrowing for a major purchase, strong credit can make the process smoother and possibly less expensive. Like preparing for a long-term project at AvalonBay Communities, progress comes from consistent effort over time—not rushing right before the deadline.

Here are eight habits that can support your credit score.

1. Make timely bill payments

Payment history is a major factor in credit scoring. Staying on top of due dates for loans and credit cards demonstrates reliability. Options like scheduled reminders or autopay can help keep everything flowing.

2. Maintain minimal credit balances

Using only a portion of your available credit—especially on revolving accounts like credit cards—can contribute to a stronger score. Credit utilization (how much of your borrowing limit you’re using) is a key consideration for lenders.

3. Keep older accounts open when it makes sense

The length of your credit history influences how strong your borrowing profile appears. Older accounts highlight more long-term behavior. However, if an account has high fees or encourages overspending, closing it may still be practical for some AvalonBay Communities households.

4. Limit unnecessary new credit applications

Applying for credit can trigger hard inquiries that temporarily place slight downward pressure on your credit score. Multiple inquiries for the same type of loan—like mortgage rate shopping—typically count as one within a defined window. Checking your own credit does not affect your score.

5. Maintain a healthy mix of credit types

Responsibly managing a blend of installment loans and revolving accounts can demonstrate financial flexibility. This doesn’t mean taking on debt that isn’t needed. However, thoughtfully managing different forms of credit over time may help strengthen your profile as life evolves during and after a AvalonBay Communities career.

6. Monitor your credit report regularly

You are entitled to free credit reports from the major bureaus—Equifax®, Experian®, and TransUnion®. Reviewing them can help identify errors, lingering balances, or signs of fraud. Staying proactive keeps your credit information accurate and up-to-date.

7. Dispute any reporting mistakes

If you find incorrect data on your report, you can file a dispute with the reporting bureau and contact the creditor at issue. Fixing errors can help make sure your score reflects your actual history.

8. Strengthen your overall financial picture

Budgeting, keeping debt manageable, and maintaining an emergency fund may make it easier to keep up with credit-related commitments. When finances stay organized, positive credit habits typically follow.

Need help planning for retirement?

A well-managed credit profile can be an important part of your overall financial life, including the transition into retirement. The Retirement Group can assist you as you prepare for your future. If you would like guidance, call (800) 900-5867 to speak with our team.

Need help planning for retirement?

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Sources:

1. Consumer Financial Protection Bureau. “How Do I Dispute an Error on My Credit Report?” CFPB , 18 Dec. 2024, www.consumerfinance.gov/ask-cfpb/how-do-i-dispute-an-error-on-my-credit-report-en-314/ . Accessed 27 Oct. 2025.

2. Experian Editorial Team. “Do Multiple Loan Inquiries Affect Your Credit Score?” Experian , 30 Aug. 2024, www.experian.com/blogs/ask-experian/do-multiple-loan-inquiries-affect-your-credit-score/ . Accessed 27 Oct. 2025.

3. FICO. “What’s in My FICO® Scores?” myFICO , n.d., www.myfico.com/credit-education/whats-in-your-credit-score . Accessed 27 Oct. 2025.

4. Federal Deposit Insurance Corporation. “Credit Reports.” FDIC , 1 Aug. 2023, www.fdic.gov/consumer-resource-center/credit-reports . Accessed 27 Oct. 2025.

5. Federal Trade Commission. “Free Credit Reports.” FTC Consumer Advice , 2023–2024, consumer.ftc.gov/free-credit-reports. Accessed 27 Oct. 2025.

What is the 401(k) plan offered by AvalonBay Communities?

The 401(k) plan offered by AvalonBay Communities is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

Does AvalonBay Communities match employee contributions to the 401(k) plan?

Yes, AvalonBay Communities offers a matching contribution to employee 401(k) contributions, helping employees save more for retirement.

What is the maximum contribution limit for the AvalonBay Communities 401(k) plan?

The maximum contribution limit for the AvalonBay Communities 401(k) plan follows the IRS guidelines, which are updated annually.

When can employees of AvalonBay Communities enroll in the 401(k) plan?

Employees of AvalonBay Communities can enroll in the 401(k) plan during their initial eligibility period, which is typically upon hire or during an open enrollment period.

What investment options are available in the AvalonBay Communities 401(k) plan?

The AvalonBay Communities 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How can employees of AvalonBay Communities access their 401(k) account information?

Employees of AvalonBay Communities can access their 401(k) account information through the plan's online portal or by contacting the plan administrator.

Is there a vesting schedule for the employer match in the AvalonBay Communities 401(k) plan?

Yes, AvalonBay Communities has a vesting schedule for the employer match, which determines how much of the matching contributions employees are entitled to based on their years of service.

Can employees of AvalonBay Communities take loans against their 401(k) savings?

Yes, employees of AvalonBay Communities may be able to take loans against their 401(k) savings, subject to the plan's terms and conditions.

What happens to my AvalonBay Communities 401(k) if I leave the company?

If you leave AvalonBay Communities, you have several options for your 401(k), including rolling it over to an IRA or another employer's plan, or cashing it out.

Are there any fees associated with the AvalonBay Communities 401(k) plan?

Yes, there may be fees associated with the AvalonBay Communities 401(k) plan, which can include administrative fees and investment-related fees.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

AvalonBay Communities recently announced a restructuring plan involving a reduction in workforce due to a slowdown in real estate market growth. This move aims to streamline operations and reduce costs.

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For more information you can reach the plan administrator for AvalonBay Communities at 4040 Wilson Blvd Arlington, VA 22203; or by calling them at +1 703-329-6300.