What does MEMBER PREFERRED CREDI mean on my credit report?

Learn about MEMBER PREFERRED CREDI, 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 MEMBER PREFERRED CREDI?

MEMBER PREFERRED CREDI is shorthand for Members Preferred Credit Union, with the company name being Members Preferred Credit Union Inc

MEMBER PREFERRED CREDI 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 Preferred 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 high credit balance is $7000.

  • ⚫ The typical loan duration is 36 months.

The account is classified under the following METRO2 categories:

  • ⚫ Secured
  • ⚫ Auto Loan
  • ⚫ Unsecured

How do I contact them?

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

Address:

  • 1515 Hoopes Ave, Idaho Falls, ID 83404, United States

Website:

Email:

Phone:

Payments

to make a payment you can visit MPCU’s main branch in Idaho Falls, call the listed phone number, use online banking, or use an ATM. Other payment options such as using checks or money orders are available at Members Preferred Credit Union. Late or missed payments may incur penalties or fees.

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

Members Preferred Credit Union does not offer loan forgiveness. Members Preferred Credit Union offers loan services ranging from Auto Loans to RV Vehicle Loans and Visa Credit Cards. loan forgiveness qualifications vary by lender. Contact a representative of Members Preferred Credit Union to learn more about their loan forgiveness qualifications.

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 with Members Preferred Credit Union. You may also apply for a loan with a cosigner.

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.

MEMBER PREFERRED CREDI 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 MEMBER PREFERRED CREDI 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.