What does LONE STAR CREDIT UNION mean on my credit report?

Learn about LONE STAR CREDIT UNION, an 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 LONE STAR CREDIT UNION?

LONE STAR CREDIT UNION is shorthand for Lone Star Credit Union , with the company name being Lone Star Credit Union Inc

LONE STAR CREDIT UNION 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 Lone Star 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 Loan

How do I contact them?

Here is the current contact details for Lone Star Credit Union :

Address:

  • 2611 Eastland Greenville, TX 75402

Website:

Email:

Phone:

Payments

Lone Star Credit Union offers several methods of payment, including direct deposit, wire transfers, bill payments, automated phone banking, and more. Your Member number is your savings account number and can be found on your eStatements in digital banking. Your checking account number can be found on the bottom of your checks after the routing number. Additionally, Automated Fraud Alerts are available to help protect your 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

Lone Star Credit Union offers loan consolidation services. To be eligible for loan forgiveness, borrowers must demonstrate financial hardship, meet certain criteria, and submit an application. Borrowers can also qualify for loan forgiveness programs based on their profession or if they serve in the military.

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

How to Apply

Lone Star Credit Union offers members the ability to apply for loans online, in person, or through their mobile app. Applicants may also use a cosigner when applying for a loan.

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.

LONE STAR CREDIT UNION 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 LONE STAR CREDIT UNION 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.