What does AVADIANCU mean on my credit report?

Is AVADIANCU making an impact on your credit score?

Updated January 1, 2023

What is AVADIANCU?

AVADIANCU is shorthand for Avadian Credit Union, with the company name being Avadian Credit Union

Avadian Credit Union has had for more than eight decades a more personalized approach towards providing financial services to its members. Starting off with only 7 founding members (7) in 1934, they currently serve over 80,000 members and manage over 1 Billion dollars in assets, becoming one of the larger credit unions in Alabama.

AVADIANCU 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 Avadian 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 $5900.

  • ⚫ The typical loan duration is 12 months.

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney
  • ⚫ Auto Loan

How do I contact them?

Here is the current contact details for Avadian Credit Union:

Address:

  • P.O. Box 360287
    Birmingham, AL 35236-0287

Website:

Email:

Phone:

Payments

Avadian mobile banking allows you to make payments, deposit your checks, view the latest rates, and update your profile from your mobile device securely. You can use your same sign-in information for mobile banking as you do for online banking. There is no enrollment or service charge for mobile banking, however you could be charged access rates depending on your phone carrier.The new online banking experience offers the ability to make payments online. You need to log in to online banking and enter a secure access code which will be sent to the contact information on file. From there, you can reset your password and apply for a loan or reorder checks.There are no penalties for late or missed payments.

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

they do not offer loan forgiveness or consolidation. You must meet certain requirements in order to qualify for and contribute to an HSA, including having coverage under an HSA-qualified High Deductible Health Plan (HDHP), not being enrolled in Medicare, not being claimed as a dependent on another’s tax return, not having any other medical coverage, and not receiving Veterans Administration medical benefits three months prior to opening an HSA. Additionally, you must have an employer-sponsored HDHP if you want to open an HSA.

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

How to Apply

you can apply for a loan online, over the phone, or in person. You will need a secure access code to confirm your identity. You can also apply for a loan using a mobile app or 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.

AVADIANCU 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 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 AVADIANCU 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.