What does JETSTREAM FEDERAL CU mean on my credit report?

Learn about JETSTREAM FEDERAL CU, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.

Updated January 1, 2023
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What is JETSTREAM FEDERAL CU?

JETSTREAM FEDERAL CU is shorthand for JetStream Federal Credit Union, with the company name being JetStream Federal Credit Union Inc

JETSTREAM FEDERAL CU 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 JetStream Federal Credit Union.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

How do I contact them?

Here is the current contact details for JetStream Federal Credit Union:

Address:

  • p.O. Box 5487 Miami Lakes, FL 33014

Website:

Email:

Phone:

Payments

You can make a loan payment online, by check, in person, or using a prepaid debit card. There is a $10 fee for using a debit or credit card from another financial institution. You can also pay using ACH Loan payment for no charge. 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? No

Forgiveness and Cancellation

JetStream does not offer loan forgiveness or consolidation. To make a payment, you must write a check and mail it, pay in person, or use ACH from another financial institution. If using another financial institution, there is a $10 charge with a maximum payment of $1500.

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

How to Apply

You can apply for a loan online by clicking the register button and entering your personal information, then selecting a payment method. There is a $10 charge for processing payments with a Debit or Credit Card from another financial institution, or you may pay from your JetStream savings or checking account or another Financial Institution with ACH Loan payment at no charge. You cannot apply for a loan over a phone call, in person, or using a mobile app. You cannot use a JetStream debit or credit card to make your loan payment. You can pay your loan from your JetStream account, through ACH from another financial institution, or by writing a check for the total amount and mailing it to JetStream.

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? No
Can I apply for a loan with a cosigner? No

SmartCredit Report Example

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

JETSTREAM FEDERAL CU 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 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 JETSTREAM FEDERAL CU 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.