What does ALABAMA CU mean on my credit report?

Is ALABAMA CU making an impact on your credit score?

Updated January 1, 2023
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What is ALABAMA CU?

ALABAMA CU is shorthand for Alabama Credit Union, with the company name being Alabama Credit Union

ALABAMA CU is a 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 Alabama 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 Loan
  • ⚫ Credit Card
  • ⚫ Unsecured
  • ⚫ Collection Agency/Attorney
  • ⚫ Secured

How do I contact them?

Here is the current contact details for Alabama Credit Union:

Address:

  • 220 Paul W Bryant DrTuscaloosa, AL 35401, USA

Website:

Email:

Phone:

Payments

To make a payment, you can visit a local Alabama Credit Union branch, contact the Member Care Center, or use a prepaid debit card. Checks and money orders are also accepted. It is not currently possible to make payments online due to an upcoming system maintenance. Late or missed payments may incur penalties.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? No
Can I make payments online? No
Do they offer a discount for automatic payments? No
Can I make a payment using a prepaid debit card? Yes

Forgiveness and Cancellation

Alabama Credit Union offers no loan forgiveness program. NA. It does offer loan services that can be applied for online, but does not offer loan consolidation services. NA. To qualify for loan forgiveness, individuals must contact their local branch and provide necessary documentation. Additionally, they may need to join their local Credit Union and apply for a loan.

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

How to Apply

you can apply for a loan online through Alabama Credit Union’s website. You can also join Alabama Credit Union and apply for a loan online, through the mobile services, or at a branch. you can apply for a loan with a cosigner.

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 with a cosigner? Yes

SmartCredit Report Example

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

ALABAMA CU 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 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 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.

How do I remove ALABAMA CU 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.