What does MEMBERS CHCU mean on my credit report?
Learn about MEMBERS CHCU, an credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is MEMBERS CHCU?
MEMBERS CHCU is shorthand for Community Healthcare Credit Union, with the company name being Community Healthcare Credit Union Inc
As a credit card company, Community Healthcare Credit Union is a non-profit financial co-operative owned and operated by our members. We are located and offer services similar to many banks, but at minimal or no cost to the membership.
MEMBERS CHCU is a Credit Union provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Community Healthcare Credit Union.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
The account is classified under the following METRO2 categories:
- ⚫ Credit Card
How do I contact them?
Here is the current contact details for Community Healthcare Credit Union:
Address:
- 48 Haynes Street Manchester, CT 06040
Website:
Email:
Phone:
Payments
payment can be made online through Community Healthcare Credit Union, Inc. using online banking, bill pay, and the Visa Credit Card online portal. Payment can also be made by phone using the TransAction Line. Other payment options such as checks and money orders are available. There are penalties for late or missed payments, including a late fee and other possible consequences.
| 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
Community Healthcare Credit Union, Inc. does not offer loan forgiveness or consolidation. However, they are qualified for FHA 3.5% Down, VA 0% Down, Rural Housing, Conventional, or HARP 2.0 mortgage programs, as well as 5-year loans with fixed rates of 4.75% APR*.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
Community Healthcare Credit Union, Inc. offers various loan options for their members. Loan applications can be done online, in person, or through their mobile app. They offer fixed rates as low as 4.75% APR and mortgage programs with FHA 3.5% Down, VA 0% Down and other options. Community Healthcare Credit Union, Inc. also offers loan options with a cosigner and a CHCU Visa Credit Card with a fixed rate and no annual fee.
| 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 MEMBERS CHCU 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.