What does WJCFCU mean on my credit report?
Learn about WJCFCU, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is WJCFCU?
WJCFCU is shorthand for Wayne County Community Federal Credit Union, with the company name being Wayne County Community Federal Credit Union Inc
These volunteer staff are unpaid; their business background and expertise guide our credit union to serve as non-profit cooperative to its members and the community.
WJCFCU 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 Wayne County Community 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.
How do I contact them?
Here is the current contact details for Wayne County Community Federal Credit Union:
Address:
- 311 Kaufmann Dr, Smithville, OH 44677, United States
Website:
Email:
Phone:
Payments
Wayne County Community Federal Credit Union offers many payment options such as online payment, mobile payment, wire transfer, and using a prepaid debit card. There is no penalty for late or missed payments. Two forms of identification are required, one being government-issued with a photo, and an initial deposit of $5 to open a savings account is required. Most credit unions require a $5 initial deposit to open a savings account and no minimum deposit is required for a checking account.
| Question | Answer |
|---|---|
| Do they offer a monthly payment plan? | Yes |
| 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
Wayne County Community Federal Credit Union does not offer loan forgiveness, but does offer loan consolidation services. To qualify for loan forgiveness, one must be a member of Wayne County Community Federal Credit Union and provide two forms of identification, including a government-issued identification with a photo. Initial deposits of $5 are required for savings accounts and no minimum deposit for checking accounts.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | Yes |
How to Apply
Wayne County Community Federal Credit Union offers loan application services online, over the phone, and in person. To apply in person, you need two forms of identification - one of which should be a government-issued photo ID - and an initial deposit of $5 to open your savings account. You can also apply using the mobile banking app.
| 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 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 WJCFCU 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.
