What does SRVCFRST FCU mean on my credit report?

Updated January 1, 2023

What is SRVCFRST FCU?

SRVCFRST FCU is shorthand for Service First FCU, with the company name being Service First FCU Inc

SRVCFRST FCU 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 Service First FCU.

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

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

About the account

The account is classified under the following METRO2 categories:

• ⚫ Auto Loan

How do I contact them?

Here is the current contact details for Service First FCU:

Address:

• 1300 Morrell Ave Sioux Falls, SD 57103

Website:

• servicefirstfcu.org

Phone:

• 800-456-1703

Payments

Service First offers a variety of payment options, including online banking, monthly payments, checks, money orders, and wire transfer. They also offer a mobile app for payments. There are penalties for late or missed payments.

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

Service First does not offer loan consolidation or loan forgiveness.

Question	Answer
Do they offer loan forgiveness?	No
Do they offer loan consolidation?	No

How to Apply

Service First Federal Credit Union offers loans that can be applied for in person, by mail, or online. Service First offers Auto Loans and Mortgage Loans that can be applied for using an online banking login. Additionally, membership is open to almost everyone who lives, works, worships or attends school in 43 counties across 4 states.

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 SRVCFRST 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.

• Sample Equifax Dispute Letter
• Sample Experian Dispute Letter
• Sample TransUnion Dispute Letter