What does NECHESFCU mean on my credit report?
Learn about NECHESFCU, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
![Header image](https://og.explaincredit.com/explaincredit/NECHESFCU.png)
What is NECHESFCU?
NECHESFCU is shorthand for Neches Federal Credit Union
, with the company name being Neches Federal Credit Union Inc
NECHESFCU is a Federal 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 Neches Federal 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:
- ⚫ Unsecured
- ⚫ Auto Loan
- ⚫ Credit Card
- ⚫ Secured
- ⚫ Collection Agency/Attorney
- ⚫ Auto
How do I contact them?
Here is the current contact details for Neches Federal Credit Union:
Address:
- 676 Magnolia Ave. Port Neches, TX 7765
Website:
Email:
Phone:
Payments
Neches FCU offers many ways to make payments, including online, through their mobile app, over the phone, and with ACH, debit cards, and credit cards. 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? | 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
Neches FCU does not offer loan forgiveness. They do offer online loan payments, mobile banking, and access 24 telephone banking. Neches FCU does not offer loan consolidation. Qualifying for loan forgiveness requires different steps depending on the type of loan. Generally, loan forgiveness requires borrowers to make payments on their loans for an extended period of time, such as 10 to 30 years, depending on the specific loan. Additionally, borrowers may need to meet other requirements, such as having a certain balance in the loan or making payments on time.
Question | Answer |
---|---|
Do they offer loan forgiveness? | No |
Do they offer loan consolidation? | No |
How to Apply
At Neches FCU, you can apply for a loan online, over the phone, or via the mobile app. You may make loan payments over the phone through Interactive Voice Recognition, but you cannot apply for a loan. Neches FCU offers online banking, online loan payments, loan payment platform, mobile banking and access 24 telephone banking.
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? | No |
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 Federal 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 federal 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. The difference between a credit union and a federal is the fact that federal credit unions are federally insured.
How do I remove NECHESFCU 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.