What does SHELL FCU mean on my credit report?
Learn about SHELL FCU, an federal credit union offering loans for financial assistance. Check the impact to your credit report and financial status.
What is SHELL FCU?
SHELL FCU is shorthand for Shell FCU, with the company name being Shell FCU Inc
On 25 January 1937 at 8 p.m., the groundwork for the charter of Shell Federal Credit Union took place at the Shell Oil refinery clock house. The organizational meeting was attended by 40 Shell Oil Company employees. Present at this meeting were G.V. Carroll of the Texas Company Refinery, H.S. Bragg from the Downtown Office, and Shell Oil Refiner Manager Dr. Mullemeister. Carroll and Bragg shared their experiences on the credit union with those in attendance. A fee of $0.25 was charged per person who wanted to join.
SHELL FCU 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 Shell FCU.
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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
The account is classified under the following METRO2 categories:
- ⚫ Credit Card
- ⚫ Collection Agency/Attorney
- ⚫ Unsecured
- ⚫ Auto Loan
- ⚫ Secured
How do I contact them?
Here is the current contact details for Shell FCU:
Address:
- P.O. Box 578 Deer Park, TX 77536-0578
Website:
Email:
Phone:
Payments
Shell Federal Credit Union offers a variety of payment options including digital banking, mobile app, prepaid debit card, wire transfer, and more. 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? | 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
Shell FCU does not offer loan forgiveness. Shell Federal Credit Union does not offer loan consolidation. To qualify for student loan forgiveness, Borrowers should contact AES at (800) 233-0557 and make payments through their payment options. Shell Federal Credit Union offers a private student loan solution with zero origination fees, lower interest rates and flexible repayment options.
| Question | Answer |
|---|---|
| Do they offer loan forgiveness? | No |
| Do they offer loan consolidation? | No |
How to Apply
Shell Federal Credit Union offers loan services with various contact methods including online, through their mobile app, and in person. A cosigner is an option.
| 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 SHELL FCU 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.