What does EXPRESS CU mean on my credit report?

Learn about EXPRESS CU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is EXPRESS CU?

EXPRESS CU is shorthand for Express Collections, with the company name being Express Collections Inc

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EXPRESS CU is a Credit Union provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Express Collections.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

How do I contact them?

Here is the current contact details for Express Collections:

Address:

  • 818 St Joseph St #200, Rapid City, SD 57701, United States

Website:

Email:

Phone:

Payments

Customers can make payments online, over the phone, or using a mobile app. Other payment options include using a check or money order, prepaid debit card, or wire transfer. There may be penalties for late or missed payments.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? Yes
Can I make payments online? Yes
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

Express Collections does not offer loan forgiveness. they do not offer loan consolidation. Loan forgiveness qualifications vary depending on the situation. Generally, students need to demonstrate a financial hardship, be unable to pay the loan for an extended period of time, and qualify for one of the government’s loan forgiveness programs.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

It is possible to apply for a loan online, over the phone, or in person. Some applications may require a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? No
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

EXPRESS CU IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

What is a Credit Union

A credit union is similar to a bank, however it is owned collectively by the members and does not operate on a for-profit basis. Many credit unions are able to provision credit and issue credit cards, which may report on your credit report. Due to the none-profit nature of credit unions they are generally more trusted by the public, as they are less likely to act in a malicious fashion. However, credit unions can still make mistakes with reporting on your credit report therefore being aware of what is being reported, and take action against any unfair reporting.

How do I remove EXPRESS CU from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.