What does CU MTG ASSOC mean on my credit report?

Is CU MTG ASSOC making an impact on your credit score?

Updated January 1, 2023
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What is CU MTG ASSOC?

CU MTG ASSOC is shorthand for Credit Union Mortgage Association, with the company name being Credit Union Mortgage Association Inc

Why does this text use different language than the previous one?

CU MTG ASSOC is a 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 Credit Union Mortgage Association.

  • ⚫ 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:

  • ⚫ Real estate

How do I contact them?

Here is the current contact details for Credit Union Mortgage Association:

Address:

  • 10800 Main St, Fairfax, VA 22030, United States

Website:

Email:

Phone:

Payments

To make a payment, you can log in and access the online payment system on the Credit Union Mortgage Association, Inc. website, call 703-425-1204 or 1-800-231-8855, Option 5, or set up recurring payments. You can also make payments over the phone or online. If you choose to make a payment using a check or money order, you can do so by contacting Credit Union Mortgage Association, Inc. There are penalties for late or missed payments, which may include additional fees, interest, and/or the potential for your account to be turned over to a collections agency. Additionally, late payments can also have a negative impact on your credit score. Wire transfers are accepted for making 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
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? No
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

they offer loan forgiveness and consolidation. To qualify, you must be employed by a qualifying organization, have made 120 qualifying payments, and not be in default on your loans.

Question Answer
Do they offer loan forgiveness? No

How to Apply

It is possible to apply for a loan both online and in person. Some lenders may require a phone call as part of the application process. Applying for a loan using a mobile app is also an option for some people. It may be possible to apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan in person? Yes
Can I apply for a loan using a mobile app? No

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

CU MTG ASSOC 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 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 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.

How do I remove CU MTG ASSOC 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.