What does AGRICULTURE FCU mean on my credit report?
Learn about AGRICULTURE FCU, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is AGRICULTURE FCU?
AGRICULTURE FCU is shorthand for AgFed Credit Union, with the company name being AgFed Credit Union
You’re not only a member at AgFed Credit Union!, but also an owner! Founded in 1934 in Washington, D.C., AgFed offers individuals throughout the nation high-quality mortgages, car loans, credit cards, checking, and a variety of other products.
AGRICULTURE FCU is a Federal 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 AgFed 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.
About the account
The account is classified under the following METRO2 categories:
- ⚫ Unsecured
How do I contact them?
Here is the current contact details for AgFed Credit Union:
Address:
- 1400 Independence Ave SW, Washington, DC 20250, United States
Website:
Email:
Phone:
Payments
Members of AgFed Credit Union can use their Routing Number and Tax ID number to make a payment. AgFed offers a variety of payment options, including a monthly payment plan, online payment, and over the phone payment. A payment refund from the Credit Union can be requested by contacting the Credit Union directly. Credit Unions offer a number of benefits such as better interest rates on savings and loans, and a “one-member, one-vote” structure, giving members more power to direct Credit Union policy.
| Question | Answer |
|---|---|
| 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
AgFed offers advantages such as higher returns on savings, lower rates for loans, and increased consumer/member satisfaction compared to banks and S&Ls. They also offer loan consolidation. Members of a Credit Union can benefit from higher returns on savings and lower rates on loans, as well as having the power to direct Credit Union policy according to a one-member, one-vote structure. To qualify for loan forgiveness, contact your Credit Union for further information.
| Question | Answer |
|---|---|
| Do they offer loan consolidation? | Yes |
How to Apply
AgFed Credit Union offers the option to apply for a loan online, over the phone, or in person. Applying for a loan with a cosigner is also an option. Being a member of a Credit Union has many advantages, some of which include higher returns on savings and the power to direct Credit Union policy.
| 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.
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 AGRICULTURE 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.