What does AAFCU mean on my credit report?

Learn about AAFCU, 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 AAFCU?

AAFCU is shorthand for AIR ACADEMY, with the company name being AIR ACADEMY LLC

1 Size does not always fit all aspects of life, and we feel similarly concerning the nature of banking services. We are committed to designing custom, caring financial solutions to provide members with a banking experience that is personally meaningful by doing what is right, not what is easy.

AAFCU 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 AIR ACADEMY.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

  • ⚫ The average account balance is $200.

  • ⚫ The average high credit balance is $1100.

  • ⚫ The average credit limit is $300.

  • ⚫ The average monthly repayment is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Unsecured
  • ⚫ Secured
  • ⚫ Auto Loan
  • ⚫ Collection Agency/Attorney
  • ⚫ Line of Credit
  • ⚫ Credit Card

How do I contact them?

Here is the current contact details for AIR ACADEMY:


  • P.O. Box 62910, Colorado Springs, CO, 80962-2910





You can make a loan payment using the external account feature through online or mobile banking, or through the remote deposit feature in the mobile banking app. You can also sign up for free recurring payments withdrawn from your account at another financial institution, pay at your nearest branch location, or pay by mail. You can also pay online with a debit card or eCheck/Bank Account, with a limit of $1,500.00 per payment. To get a payment refund, you can switch your direct deposit from your old account to your Air Academy Federal Credit Union (AAFCU) account which is fast and secure. AAFCU offers competitive and innovative financial solutions that are customizable and flexible. For more information, contact AAFCU at 719.593.8600 or 800.223.1983.

Question Answer
Can I make payments over the phone? Yes
Can I make payments online? Yes
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

Loan forgiveness is available for federal student loans under certain circumstances, such as death or total and permanent disability of the borrower. Consolidation is also an option through Air Academy Federal Credit Union. To qualify for loan forgiveness, individuals must meet certain criteria set by the U.S. Department of Education.

Question Answer
Do they offer loan forgiveness? Yes
Do they offer loan consolidation? Yes

How to Apply

you can apply for a loan online, over the phone, or in person with Air Academy Federal Credit Union. The credit union offers competitive and innovative loan products, including auto loans with APR* as low as 5.99%, home equity loans with APR* as low as 6.75%, adjustable-rate mortgages with APR* as low as 5.64%, and personal loans with APR* as low as 9.99%. You can also apply for a loan using the AAFCU Mobile app. The app allows you to check balances, view transactions, transfer funds, pay bills, and review and make loan and credit card payments from anywhere at any time. Ratings suggest the app is easy to use with few errors, however users have reported issues with the repayment of the loan or credit feature. Loan options include signature loans, share secured loans and lines of credit.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? Yes
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.

AAFCU 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 AAFCU 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.