What does ALLSOUTH FCU mean on my credit report?

Is ALLSOUTH FCU making an impact on your credit score?

Updated January 1, 2023
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What is ALLSOUTH FCU?

ALLSOUTH FCU is shorthand for AllSouth Federal Credit Union, with the company name being AllSouth Federal Credit Union

Credit Union 1 is not just another bank; it’s your neighborhood branch where you live, work and play. Together we are stronger as a team!

ALLSOUTH 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 AllSouth 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 average account balance is $5600.

  • ⚫ The average high credit balance is $18400.

  • ⚫ The typical loan duration is 42 months.

  • ⚫ The average monthly repayment is $200.

The account is classified under the following METRO2 categories:

  • ⚫ Auto Loan
  • ⚫ Unsecured
  • ⚫ Secured
  • ⚫ Collection Agency/Attorney

How do I contact them?

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

Address:

  • 730 Elmwood Avenue
    Columbia, South Carolina 2920

Website:

Email:

Phone:

Payments

AllSouth offers 24/7 Online and Mobile Banking for payments, as well as a one-time automatic payment plan. You can also pay as a guest through the Online Payment Service with a service charge of $10. Checks can be mailed to their Columbia office. There are no monthly payment plans offered. If you need a refund for a payment, you can contact them at their Columbia office or use their Online and Mobile Banking services. You cannot make payments over the phone. AllSouth’s routing number is 253279031.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? No
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? No
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

AllSouth Federal Credit Union offers loan forgiveness to those who qualify. To qualify, applicants must provide their routing number. AllSouth does not offer loan consolidation.

Question Answer
Do they offer loan consolidation? No

How to Apply

It is possible to apply for a loan with AllSouth Federal Credit Union online, through their mobile banking app, or in person with a cosigner. AllSouth Federal Credit Union locations will be closed on Monday, January 2 in observance of New Year’s Day.

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? No
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.

ALLSOUTH 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 ALLSOUTH 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.