What does UNIVERSITY FED CR UN mean on my credit report?
Learn about UNIVERSITY FED CR UN, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is UNIVERSITY FED CR UN?
UNIVERSITY FED CR UN is shorthand for University Federal Credit Union, with the company name being University Federal Credit Union Inc
UNIVERSITY FED CR UN is a Federal 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 University Federal 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
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⚫ The average account balance is $7100.
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⚫ The average high credit balance is $10100.
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⚫ The average credit limit is $1500.
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⚫ The average monthly repayment is $200.
The account is classified under the following METRO2 categories:
- ⚫ Unsecured
- ⚫ Credit Card
- ⚫ Auto Loan
How do I contact them?
Here is the current contact details for University Federal Credit Union:
Address:
- 2860 10th Avenue N Suite 100 Grand Forks, ND 58203
Website:
Email:
Phone:
Payments
You can make a payment by wiring funds to the Bank of North Dakota with further credit to University Federal Credit Union, reporting a lost or stolen ATM or Debit card, and contacting UFCU for your initial password for Online Account Access. Additionally, complimentary notary service is available at both UFCU locations. Phone payments are not accepted. Payments can be made via wiring instructions, check, ATM/debit card, Visa Credit card and online account access. Notary service is also available at UFCU locations. 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? | 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
University Federal Credit Union does not offer loan forgiveness or consolidation. To qualify for loan forgiveness, you need to use the instructions to wire funds to University Federal Credit Union, order checks and ATM or debit cards, activate the card by calling the number on the front, obtain a password for online account access, and receive an email reminder when your statement is available to view. Notary service is also available at University Federal Credit Union locations.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
You can apply for a loan online at University Federal Credit Union. There are instructions for wiring funds, ordering checks, activating ATM and Debit cards, selecting Credit or Debit at merchants, and obtaining a Visa Credit Card. Additionally, one-time passwords are required for Online Account Access and eStatements are available to view within Online Account Access or the Mobile App. Notary service is also available at UFCU locations. You cannot apply for a loan over a phone call or in person, but you can apply for a loan using a mobile app. You can apply for a loan with a cosigner. UFCU offers complimentary notary service for loan applications.
| 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 UNIVERSITY FED CR UN 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.
