What does ALLEGACY FCU mean on my credit report?

Learn about ALLEGACY FCU, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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ALLEGACY FCU is shorthand for Allegiance Credit Union, with the company name being Allegiance Credit Union

ALLEGACY 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 Allegiance 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 average account balance is $100.

  • ⚫ The average high credit balance is $12600.

  • ⚫ The average credit limit is $12300.

  • ⚫ The average monthly repayment is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Credit Card

How do I contact them?

Here is the current contact details for Allegiance Credit Union:


  • 1691 Westbrook Plaza Dr, Winston-Salem, NC 27103, United States





To make a payment with Allegacy Federal Credit Union, you can use the Account Access feature of their Digital Banking Tools. The Digital Banking Tools also offer Ways to Pay, such as a Visa Signature Rewards Credit Card. There are also limited-time offers available to view.the company offers a monthly payment plan. Customers can choose to either pay the full amount upfront or spread the payments out over a period of time.To get a payment refund from Allegacy Federal Credit Union, you can contact their Contact Center or visit one of their locations. They are closed on Monday, January 2nd in observance of the New Year’s Holiday.you can make payments over the phone with Allegacy Federal Credit Union.you can make payments online through Allegacy Federal Credit Union’s digital banking and tools such as account access and ways to pay.At ABC Bank, we offer a variety of discounts for customers who set up automatic payments for loan and mortgage payments. Customers can receive up to 0.50% off of their loan interest rate with automatic payments.Allegacy Federal Credit Union offers other payment options such as using a check or money order.you can make a payment using a mobile app by utilizing Allegacy’s Digital Banking + Tools account access and Ways to Pay payment methods.Penalties for late or missed payments may vary depending on the type of account. Generally, the penalty may include a late fee or a higher interest rate.you can make a payment using a prepaid debit card at Allegacy Federal Credit Union.Allegacy Federal Credit Union offers wire transfer 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? 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

The company offers loan forgiveness programs for qualifying customers. Customers must meet certain requirements in order to qualify for the program. These requirements are typically related to income, employment, and financial hardship. Additionally, they offer loan consolidation to help borrowers manage their debt and create a more manageable payment plan.

Question Answer
Do they offer loan forgiveness? Yes
Do they offer loan consolidation? Yes

How to Apply

you can apply for a loan online, in person, or using a mobile app at Allegacy Federal Credit Union. They offer a variety of loan and credit card options, such as mortgages, auto loans, home equity loans, personal loans, and credit cards. There is currently a limited-time offer and special rates are available. You can also 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 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.

ALLEGACY FCU 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 ALLEGACY 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.