What does ABD FCU mean on my credit report?

Is ABD FCU making an impact on your credit score?

Updated January 1, 2023

What is ABD FCU?

ABD FCU is shorthand for ABD FEDERAL CREDIT UNION, with the company name being ABD FEDERAL CREDIT UNION LLC

The abbreviation ABD originated from the Credit Union that represented the auto beauty division of Briggs manufacturing. Eventually Briggs was purchased by Chrysler corporation and became the plant’s representative in Warren, Michigan, we currently have an office in Detroit and Belvidere, Illinois. We merged several credit-unions including McGraw glass, Indianapolis foundry, Belvidere, Mount Elliot and CJ federal.

ABD 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 ABD 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 ABD FEDERAL CREDIT UNION:

Address:

  • 27850 Mound Road, Warren, MI 48092

Website:

Phone:

Payments

ABD Federal Credit Union offers a variety of products and services, including checking, savings, mortgages and Home Equity Line of Credits, as well as the ability to pay bills and send money to other Financial Institutions through Online Banking Bill Pay. Members of ABD Federal Credit Union have several payment options such as using a check, money order, direct deposits, online banking bill pay, debit chip card, Cash App, Zelle, PayPal and more. There are penalties for late or missed payments, such as rejected funds being returned to Stellantis by the credit union or bank and being paid to the employees via paper check.

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

they offer loan forgiveness for those who have worked in public service (federal, state, local, tribal government or a non-profit organization) for 10 years or more. Under the temporary changes, borrowers qualify to receive credit for any past payments even if the payments were not on time or for less than the amount due. NA

Question Answer
Do they offer loan forgiveness? Yes

How to Apply

ABD FCU offers loans that can be applied for online, over the phone, or in person. The mobile app requires you to provide your name, phone number, and best time to call, the purpose of the loan, the amount requested, down payment, and term. You will also need to provide your address, ABD FCU account number, full name, social security number, marital status, number of dependents, city, state, ZIP, and years there. Additionally, you will need to provide information about assets, contact information, employment information, and two of your nearest relatives. Lenders, such as LightStream, LendingClub, OneMain Financial, Santander Bank, N.A, and Old National Bank, offer personal loans that can be cosigned.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? Yes
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.

ABD FCU 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 ABD 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.