What does COMMUNITY FI mean on my credit report?
Is COMMUNITY FI making an impact on your credit score?
What is COMMUNITY FI?
COMMUNITY FI is shorthand for
Community Financial Credit Union, with the company name being
Community Financial Credit Union Inc
For over seventy years Community Financial has been dedicated to giving back to the Communities we serve. Our membership includes any person residing, working, attending school or worshipping in the state of Michigan. Membership is also open to businesses and other legally-organized groups or individuals that routinely do business in Michigan. Finally, anyone presently domiciled in the same household with a member of our credit union can become a member as well.
COMMUNITY FI 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 Community Financial 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:
- ⚫ Collection Agency/Attorney
How do I contact them?
Here is the current contact details for Community Financial Credit Union:
- P.O. Box 8050 Plymouth, Michigan 48170-8050 (877) 937-2328
- [firstname.lastname@example.org email@example.com firstname.lastname@example.org](mailto://email@example.com firstname.lastname@example.org email@example.com)
There are many ways to make a payment, including online, over the phone, through a mobile app, and using a prepaid debit card. You can also make a payment using a wire transfer, but there may be penalties for late or missed payments.
|Do they offer a monthly payment plan?||No|
|Can I make payments over the phone?||Yes|
|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
student loans can be forgiven, but it depends on the type of loan forgiveness program. Loan consolidation is another option for students who qualify. You may qualify for loan forgiveness if you are a teacher, a nurse, or work in certain public service jobs. You can also qualify for loan forgiveness if you become disabled or die.
|Do they offer loan forgiveness?||No|
|Do they offer loan consolidation?||Yes|
How to Apply
You can apply for a loan online, over the phone, or in person. Some lenders also offer mobile apps. You may be able to apply with a cosigner.
|Can I apply for a loan online?||Yes|
|Can I apply for a loan over a phone call?||Yes|
|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|
SmartCredit Report Example
- This is an example of what this creditor will look like on your 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 COMMUNITY FI 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.