What does ABILTEAC FCU mean on my credit report?

Is ABILTEAC FCU making an impact on your credit score?

Updated January 1, 2023
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What is ABILTEAC FCU?

ABILTEAC FCU is shorthand for Abilene Federal Credit Union, with the company name being Abilene Federal Credit Union

In January 1950, municipal workers organized and collected their funds sufficiently so that soon they had accumulated sufficient cash for loans; from this modest beginnings Abilene FCU grew to $25 million in assets, serving around 3,300 customers each fully insured by the Federal Deposit Insurance Corporation up to $250,000.

ABILTEAC 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 Abilene Federal Credit Union.

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

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

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Auto

How do I contact them?

Here is the current contact details for Abilene Federal Credit Union:

Address:

  • 4001 Catclaw Dr, Abilene, Texas 79606

Website:

Email:

Phone:

Payments

To make a payment with Abilene Federal Credit Union, you can open a savings account, set up direct deposit, or apply for a loan. You can make payments over the phone, online, or via 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
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

Abilene Federal Credit Union offers loans which can be applied for online, in-person, or by phone. Loan rates are available online and direct deposit is free for members. To qualify for loan forgiveness, you must join Abilene Federal Credit Union by opening a savings account with an initial deposit of $25 and paying a one-time membership fee of $1. After that, you must complete a loan application which can be obtained online, in person, or over the phone. Direct deposit forms are available to help track money, and this service is free to members.

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

How to Apply

You can apply for a loan from Abilene Federal Credit Union by completing a loan application in person, online, or over the phone. You can also apply for a loan using a mobile app. If you would like to apply for a loan with a cosigner, that is also an option.

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.

ABILTEAC 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 ABILTEAC 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.