What does Chocolate Bayou Credit Union (CHOC BAY FCU) mean on my credit report?

Is CHOC BAY FCU making an impact credit score?

Updated May 1, 2022

What is CHOC BAY FCU?

CHOC BAY FCU is shorthand for Chocolate Bayou Credit Union, with the company name being Chocolate Bayou Credit Union LLC

Things are done a little bit differently around here. From our friendly team to our active Board of Directors, we all work to ensure that your financial future remains a little sweet. Local people, chocolate and credit union have served for over 60 years.

CHOC BAY FCU is a Federal Credit Union. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Chocolate Bayou 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
  • ⚫ Unsecured
  • ⚫ Collection Agency/Attorney

More account infomation

  • ⚫ The average account balance is $300.

  • ⚫ The average high credit balance is $14300.

  • ⚫ The typical loan duration is 26 months.

How do I contact them?

Here is the current contact details for Chocolate Bayou Credit Union:

Address:

  • 1301 North Hwy 35 Bypass,Alvin,TX77511

Website:

Email:

Phone:

  • (281) 331-2253

SmartCredit Report Example

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

CHOC BAY FCU 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 CHOC BAY FCU 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.