What does DUKE UNIVERSITY FCU mean on my credit report?

Updated January 1, 2023

What is DUKE UNIVERSITY FCU?

DUKE UNIVERSITY FCU is shorthand for Duke Credit Union, with the company name being Duke Credit Union Inc

The credit union serves over fifty members, employs approximately 1,500 people and has about 17 branches throughout Durham County (9 locations) and

DUKE UNIVERSITY 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 Duke 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:

• ⚫ Unsecured

How do I contact them?

Here is the current contact details for Duke Credit Union:

Address:

• 2200 West Main St. Suite L100 Durham NC, 27705

Website:

• dukefcu.org

Email:

• dukefcu@duke.edu

Phone:

• (919) 660-9859

Payments

Ways to make a payment include online, by phone, by mobile app, using a check or money order, or with a wire transfer. There may be penalties for late or missed payments.

Question	Answer
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

The website offers loan consolidation and loan forgiveness. To qualify for loan forgiveness, the applicant must have made 120 monthly payments.

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 can also apply for a loan using a mobile app. If you have a cosigner, you may be able to get a loan with a lower interest rate.

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.

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 DUKE UNIVERSITY 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.

• Sample Equifax Dispute Letter
• Sample Experian Dispute Letter
• Sample TransUnion Dispute Letter