What does TOPMARK FEDERAL CREDIT mean on my credit report?

Learn about TOPMARK FEDERAL CREDIT, an federal 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 TOPMARK FEDERAL CREDIT?

TOPMARK FEDERAL CREDIT is shorthand for TopMark Federal Credit Union, with the company name being TopMark Federal Credit Union Inc

TOPMARK FEDERAL CREDIT 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 TopMark 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:

  • ⚫ Auto Loan

How do I contact them?

Here is the current contact details for TopMark Federal Credit Union:

Address:

  • 609 E. Main Street Cridersville, OH 45806

Website:

Email:

Phone:

Payments

you can make payments through Direct Deposit and Pre Authorized Payment Information using a Routing Number and 13 digit account number. TopMark does not offer a monthly payment plan. No refunds are related to credit unions. Payments cannot be made over the phone. TopMark offers electronic deposits and payments through the ACH (Automated Clearing House) system and provides a Routing Number: 241279564 to initiate requests. they do not offer discounts for automatic payments. TopMark is a receiver of electronic deposits and payments through the ACH system, and credit unions are cooperative, not-for-profit financial institutions. TopMark Credit Union offers mobile app payment options such as direct deposits and pre-authorized payments. there are penalties for late or missed payments. These penalties may include additional fees and/or an increase in interest rates. prepaid debit cards may be used to make a payment through direct deposit or pre-authorized payment information. TopMark offers direct deposit and pre-authorized payments through wire transfers.

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

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

How to Apply

you can apply for a loan online with TopMark. You can also arrange to have your Payroll, Social Security, and other Benefit/Pension checks deposited to your account through Direct Deposit or Pre Authorized Payment. Credit unions are not-for-profit financial institutions owned by their members who are also entitled to vote on important issues. The credit union movement started in the United States in Manchester, New Hampshire.

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.

TOPMARK FEDERAL CREDIT 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 TOPMARK FEDERAL CREDIT 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.