What does INDUSTRIALCU mean on my credit report?
Learn about INDUSTRIALCU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is INDUSTRIALCU?
INDUSTRIALCU is shorthand for Industrial Credit Union, with the company name being Industrial Credit Union Inc
INDUSTRIALCU is a Credit Union provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Industrial Credit Union.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
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⚫ The average high credit balance is $12100.
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⚫ The typical loan duration is 50 months.
The account is classified under the following METRO2 categories:
- ⚫ Auto Loan
How do I contact them?
Here is the current contact details for Industrial Credit Union:
Address:
- PO Box 1767 Bellingham, WA 98227-1767
Website:
Email:
Phone:
Payments
To make a payment using Industrial Credit Union’s Online Banking, you must have an account, username, phone number, and correctly configured browser. Online Banking is available 24 hours a day, but there may be periods of maintenance downtime. Passwords must be between 6 and 32 characters long and contain characters from two of the three following categories: letters, numbers, and special characters. Online Banking will automatically log off after 10 minutes of inactivity. Mobile apps are available for iPhone, iPad, and Android devices. 8 months of account history can be viewed online, and up to 3 years are available for eStatements. Transaction history can be downloaded into Quicken, QuickBooks, Microsoft Money, or Excel. Industrial Credit Union offers a monthly payment plan, and users can get a payment refund by logging in to Online Banking. Payments can be made over the phone, and there is no discount for automatic payments. There are also no other payment options other than Online Banking, Bill Payer and eStatements. There are penalties for late or missed payments, such as service fees and additional interest. Payments can be made using a prepaid debit card or a wire transfer.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | Yes |
| 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
Industrial Credit Union does not offer loan consolidation or loan forgiveness. To qualify for loan forgiveness, you must have an account at Industrial CU, a username, a phone number and a correctly configured Browser. You can access your account on a phone, tablet or other mobile device by downloading a free mobile app or visiting the website. 8 months of account history can be viewed, and up to 3 years of eStatements are available online. You can download your transaction history into Quicken, QuickBooks, Microsoft Money, or Excel.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online with Industrial Credit Union. You must have an account with the credit union and a correctly configured browser. Online Banking is available 24 hours a day, and you can access your account on a mobile device using the free apps available. You can view 8 months of account history and download up to 3 years of eStatements. You can apply for a loan using a mobile app. Industrial Credit Union’s Online Banking is available 24/7 for iPhones, iPads, Android devices, and other web browsers. Your account history is viewable for 8 months and can be exported into applications such as Quicken, QuickBooks, Microsoft Money, or Excel. You can apply for a loan with a cosigner through Industrial Credit Union’s Online Banking services. You must have an account at Industrial Credit Union, a username, a phone number, and a correctly configured browser.
| 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.
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 INDUSTRIALCU 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.
