What does SHELL FEDERAL CREDIT U mean on my credit report?

Learn about SHELL FEDERAL CREDIT U, 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 SHELL FEDERAL CREDIT U?

SHELL FEDERAL CREDIT U 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 FEDERAL CREDIT U 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 Shell FCU.

  • ⚫ 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 $500.

  • ⚫ The average high credit balance is $33400.

  • ⚫ The average credit limit is $100.

The account is classified under the following METRO2 categories:

  • ⚫ Collection Agency/Attorney
  • ⚫ Unsecured
  • ⚫ Credit Card
  • ⚫ Auto Loan

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.

SHELL FEDERAL CREDIT U 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 FEDERAL CREDIT U 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.