What does 1ST CT CU mean on my credit report?
Learn about 1ST CT CU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is 1ST CT CU?
1ST CT CU is shorthand for First Connecticut Credit Union, with the company name being First Connecticut Credit Union LLC
1ST CT CU is a Credit Union provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with First Connecticut Credit Union.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
How do I contact them?
Here is the current contact details for First Connecticut Credit Union:
Address:
- 159 South Turnpike Road Wallingford, CT 06492 United States
Website:
Email:
Phone:
Payments
First Connecticut Credit Union offers several payment options, including direct deposit, cash, checks, money orders, and wire transfer. Membership is open to anyone who works for an employer group of 500 employees or less within the state of Connecticut that provides Direct Deposit. You can join online, visit the office, or call the Credit Union to receive the application. Direct Deposit is also available for government, retirement, and Social Security payments.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | No |
| Can I make payments over the phone? | Yes |
| Can I make payments online? | Yes |
| Do they offer a discount for automatic payments? | No |
| 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
First Connecticut Credit Union offers membership types such as primary, joint, family, and retirement, as well as direct deposit services. To qualify for loan forgiveness at First Connecticut Credit Union, you must join as a primary member with two valid forms of identification and a minimum deposit of $5.00. You may join with an immediate family member or household member and extend your membership for life. Direct Deposit is available for automatic deposits of your paycheck or other payments. You must also satisfy the other requirements for loan forgiveness, which may vary depending on the type of loan and other factors.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | Yes |
How to Apply
You can apply for a loan online, over the phone, or in person through First Connecticut Credit Union. You will need two valid forms of identification and a check for at least $5.00. You can also join the Credit Union by visiting their office or by calling them and they offer Primary, Joint, Family and Retirement membership types.
| 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? | Yes |
| 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.
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 1ST CT 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.