What does SOLUTNFST CU mean on my credit report?

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

Updated January 1, 2023
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What is SOLUTNFST CU?

SOLUTNFST CU is shorthand for Solutions Credit Union, with the company name being Solutions Credit Union Inc

Today, with a pledge to serve our members, we have established over $36 million in assets as we begin to grow; our mission is to encourage thrift by providing financially sound, competitively priced, and valuable personal banking services to our members. We consider it a privilege to serve our community and to uphold the credit union philosophy “people helping people”. Please join us at Solutions Credit Union!

SOLUTNFST CU 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 Solutions 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 Solutions Credit Union:

Address:

  • 907 Broadway St, Elmira, NY 14904

Website:

Email:

Phone:

Payments

To make a payment, log in to your Solutions Credit Union account. They offer various loan, savings and other financial services. There is no monthly payment plan. To get a payment refund, log in to your Solutions Credit Union account and contact the credit union directly. Solutions Credit Union offers payments over the phone and online as well as other banking services. There is no discount for automatic payments. Solutions Credit Union offers payment options such as using a check or money order. Solutions Credit Union offers a free mobile app for making payments. There are no penalties for late or missed payments. Solutions Credit Union offers prepaid debit cards, allowing members to make payments with their check cards. Solutions Credit Union offers wire transfers and payment options.

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

Solutions Credit Union does not offer loan forgiveness or consolidation services.

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

How to Apply

Solutions Credit Union offers online loan applications and services. Applying for a loan over a phone call is not possible. You cannot apply for a loan in person. Solutions Credit Union offers a mobile app that members can use to apply for a loan. Solutions Credit Union offers auto loans, personal loans, and savings accounts with competitive rates for members.

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

SmartCredit Report Example

  • This is an example of what this creditor will look like on your SmartCredit report.

SOLUTNFST CU SmartCredit 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 SOLUTNFST CU 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.