What does ADVFINSVFCU mean on my credit report?

Is ADVFINSVFCU making an impact on your credit score?

Updated January 1, 2023
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What is ADVFINSVFCU?

ADVFINSVFCU is shorthand for Advanced Financial Federal Credit Union, with the company name being Advanced Financial Federal Credit Union

ADVFINSVFCU 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 Advanced Financial 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 Advanced Financial Federal Credit Union:

Address:

  • 785 Central Ave
    New Providence, NJ 07974

Website:

Email:

  • [afsinfo@advfinfcu.com /loandept@advfinfcu.com](mailto://afsinfo@advfinfcu.com /loandept@advfinfcu.com)

Phone:

Payments

Advanced Financial Federal Credit Union offers a wide range of payment options to their customers. These include making a payment online, through their mobile app, or at one of their four branches. They also offer 25,000+ surcharge free ATM locations to make payments. For direct deposits, their routing number is 221276817.

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

Advanced Financial Federal Credit Union offers loan consolidation at competitive rates. To qualify for loan forgiveness, applicants should first become members of Advanced Financial Federal Credit Union, who serve those who live, work or worship in Union or Essex County, NJ.

Question Answer
Do they offer loan consolidation? Yes

How to Apply

Advanced Financial Federal Credit Union offers a wide range of loans with competitive rates which can be applied for online, over the phone, or in person. They also have a mobile app and offer loans with cosigners. Their Visa Platinum Rewards program offers 9.90% APR. New and used loans are available at 3.75% and 4.75% APR respectively.

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

IdentityIQ Report Example

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

ADVFINSVFCU 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 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 ADVFINSVFCU 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.