What does 1ST MS FCU mean on my credit report?

Updated January 1, 2023

What is 1ST MS FCU?

1ST MS FCU is shorthand for American Airlines Federal Credit Union, with the company name being American Airlines Federal Credit Union LLC

As long as there has been air travel, people have sought to protect their money from loss by putting it into banks.

1ST MS FCU is a Federal 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 American Airlines Federal Credit Union.

• ⚫ 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 American Airlines Federal Credit Union:

Address:

• AA CREDIT UNION, Envoy Building, 4301 Regent Blvd, Suite 110, Irving, TX 75063

Website:

• aacreditunion.org

Email:

• members@aacreditunion.org

Phone:

Payments

You can make a payment through the website or app, or over the phone. There are also a variety of digital payment plans offered, as well as other options like check or money order. If you need a refund, you can contact the store or service provider, or your bank or credit card company. There are penalties for late or missed 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

The American Airlines Credit Union offers an Education Line of Credit to eligible Credit Union members and U.S. citizens or permanent residents who are paying education expenses for themselves or family members. They also offer a Student Loan Refinancing program with amounts up to $125,000 and a 0.25% APR rate discount for automatic electronic payment. To qualify for loan forgiveness, members of the American Airlines Credit Union may be eligible for Bonus Dividends, loan discounts, and various tools and resources.

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

How to Apply

You can apply for a loan through American Airlines Credit Union in person, online, or through their mobile app. You may need a cosigner for some loans. American Airlines Credit Union offers competitive rates and a variety of discounts on vehicle and home equity loans, as well as bonus dividends and financial resources.

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

SmartCredit Report Example

• This is an example of what this creditor will look like on your SmartCredit 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 Federal 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 federal 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. The difference between a credit union and a federal is the fact that federal credit unions are federally insured.

How do I remove 1ST MS FCU 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.

• Sample Equifax Dispute Letter
• Sample Experian Dispute Letter
• Sample TransUnion Dispute Letter