What does MEDIA MEMBERS FEDERAL mean on my credit report?

Updated January 1, 2023

What is MEDIA MEMBERS FEDERAL?

MEDIA MEMBERS FEDERAL is shorthand for Penn Credit Union, with the company name being Penn Credit Union Inc

The IAA is located north of Bayswater Road (High Street) on the western shore of Lake Ontario at the mouth of the Ottawa River.

MEDIA MEMBERS FEDERAL 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 Penn 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 Penn Credit Union:

Address:

• 3131 Walnut Street Philadelphia, PA 19104

Website:

• penncu.org

Email:

• MKLEIN@PENNCU.ORG

Phone:

• 215-898-8539

Payments

PennFCU offers many payment options such as online payment, phone payment, check, and money order. 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?	Yes

Forgiveness and Cancellation

Penn Federal Credit Union does not offer loan forgiveness. To qualify for loan forgiveness, you must join Penn Federal Credit Union and use the services of DXOnline, Sprig Mobile Banking, Co-Op Shared Branching, Sallie Mae Student Loans, and TruStage Insurance.

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

How to Apply

You can apply for a loan online, in person, or using a mobile app. Applying for a loan with a cosigner is also an option. Credit unions offer great rates on personal loans and mortgages.

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 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 MEDIA MEMBERS FEDERAL 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