What does MEBFIRSTCU mean on my credit report?

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

Updated January 1, 2023
Header image

What is MEBFIRSTCU?

MEBFIRSTCU is shorthand for Members First Credit Union, with the company name being Members First Credit Union Inc

On Mid-October 1958, 35 persons gathered at Box Elder High School and decided to establish Thiokol (Utah division) employees credit union. The membership were open to the staff of Thiokol corporation and family member of credit union members.

MEBFIRSTCU 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 Members First 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 average account balance is $300.

  • ⚫ The average high credit balance is $300.

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney

How do I contact them?

Here is the current contact details for Members First Credit Union:

Address:

  • 120 East 1000 South P.O. Box 657 Brigham City, Utah 84302

Website:

Email:

Phone:

Payments

Payments can be made using a credit card, debit card, PayPal account, or other methods. Refunds for payments can be requested by contacting the company you made the payment to directly. Payments can be made over the phone with a credit card or an electronic check. Online payments are a convenient and secure way to complete transactions. Many online services allow users to make payments with their bank cards, PayPal, or other payment methods. Depending on the service, payments can be processed instantly, or take up to several days to complete. There are no penalties for automatic payments. Late or missed payments can result in penalties. These penalties can vary depending on the terms of the payment agreement and the type of payment being made. Common penalties for late payments include additional fees, increased interest rates, or penalties for not paying on time.

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

Loan forgiveness and consolidation are both options from StudentLoans.gov. Loan forgiveness may be an option if you work in public service or meet other qualifications. Loan consolidation can lower your monthly payment or make it easier to pay off your loan.

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

How to Apply

You can apply for a loan in person, over the phone, or online. You may be able to use a mobile app to apply for a loan as well. You may need a cosigner for some loans.

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.

MEBFIRSTCU 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 MEBFIRSTCU 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.