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Use friend's address for geoblocked Credit Union?

kremonis
Contributor

Use friend's address for geoblocked Credit Union?

There is a credit union I want to join that has unique terms for one of their financial product. They are geo locked with no others way to join. I live outside their area.

 

I have a friend that lives within the credit union's area. Plus this friends address was a place I used to live at many years. Sometimes the big 3 CRA have this address on my credit report.

 

Why if I used this friend's address to join the credit union?

 

Any legal issues. Would it be moot since I would have not documentation to verify that address (drivers' license, utilities bill, etc).

 

Message 1 of 8
7 REPLIES 7
FinStar
Moderator

Re: Use friend's address for geoblocked Credit Union?


@kremonis wrote:

There is a credit union I want to join that has unique terms for one of their financial product. They are geo locked with no others way to join. I live outside their area.

 

I have a friend that lives within the credit union's area. Plus this friends address was a place I used to live at many years. Sometimes the big 3 CRA have this address on my credit report.

 

Why if I used this friend's address to join the credit union?

 

Any legal issues. Would it be moot since I would have not documentation to verify that address (drivers' license, utilities bill, etc).

 


Well, the issue that may come up is if the CU requests for any verification docs, such as your DL (which we know the address won't match) and/or a utility bill in your name (which you won't have). It doesn't matter if that address is on the CRs, it's whether they're able to verify your identity.

 

Unless, your "friend" can sponsor or refer you somehow, but you'd still need to come up with some to docs to verify who you are. The smaller the CU, the more hoops you go through.

 

Your decision @kremonis.

Message 2 of 8
Shooting-For-800
Senior Contributor

Re: Use friend's address for geoblocked Credit Union?

Lying on an application is never a good idea...

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Message 3 of 8
SouthJamaica
Super Contributor

Re: Use friend's address for geoblocked Credit Union?


@kremonis wrote:

There is a credit union I want to join that has unique terms for one of their financial product. They are geo locked with no others way to join. I live outside their area.

 

I have a friend that lives within the credit union's area. Plus this friends address was a place I used to live at many years. Sometimes the big 3 CRA have this address on my credit report.

 

Why if I used this friend's address to join the credit union?

 

Any legal issues. Would it be moot since I would have not documentation to verify that address (drivers' license, utilities bill, etc).

 


Yes there are legal issues. Like fraud, and going to jail.


Total revolving limits 698000 (605000 reporting) FICO 8: EQ 721 TU 742 EX 715

Message 4 of 8
maestro07
Frequent Contributor

Re: Use friend's address for geoblocked Credit Union?

Honesty is the best policy. There would be some good CUs that you would be eligible to join locally and nationwide. Pursue those and you will have peace of mind!


@kremonis wrote:

There is a credit union I want to join that has unique terms for one of their financial product. They are geo locked with no others way to join. I live outside their area.

 

I have a friend that lives within the credit union's area. Plus this friends address was a place I used to live at many years. Sometimes the big 3 CRA have this address on my credit report.

 

Why if I used this friend's address to join the credit union?

 

Any legal issues. Would it be moot since I would have not documentation to verify that address (drivers' license, utilities bill, etc).

 


 

FICO 8: TU-775 EX-778 EQ-781 Total Credit Limit: $757,500
Message 5 of 8
batsy71
Regular Contributor

Re: Use friend's address for geoblocked Credit Union?

Applying for most CU triggers a Chex Systems hard pull just like how applying for credit card triggers credit history pull. Credit and Chex history also shows past and present official residence addresses you have reported in the past, either by signing a lease, submitting for other credit or bank applications, utility bills or applying for new jobs.

Your friend's residence address will not show in your Chex history and will trigger alarms. They will ask you for additional proof like property tax or bank statements or utility bills or rent lease etc for proof that you stay in that address. Maybe your friend could register you as an official tenant by including you in the rent agreement, then it might work. But remember this address will show in your background history for the next 10 years.

Another option for most CU's is the relative option. They allow relatives of members to join. If your friend is a member of the CU and you can somehow prove the he/she is your relatived then that's another way to get in, but you would have to prove that too.

In short, using the friend option won't work in most cases unless you literally sign rental agreements to become their roommate or are related to them.

Message 6 of 8
CreditInspired
Super Contributor

Re: Use friend's address for geoblocked Credit Union?


@Shooting-For-800 wrote:

Lying on an application is never a good idea...


^^^ this times 1,000. 


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Message 7 of 8
Guyatthebeach
Valued Contributor

Re: Use friend's address for geoblocked Credit Union?


@kremonis wrote:

There is a credit union I want to join that has unique terms for one of their financial product. They are geo locked with no others way to join. I live outside their area.

 

I have a friend that lives within the credit union's area. Plus this friends address was a place I used to live at many years. Sometimes the big 3 CRA have this address on my credit report.

 

Why if I used this friend's address to join the credit union?

 

Any legal issues. Would it be moot since I would have not documentation to verify that address (drivers' license, utilities bill, etc).

 


Personally the legal and verification issues would be a big fat no for me.  I'm sure if you look hard enough, I'm sure there is another credit union that offers the same or similar products. 

Guyatthebeach

Message 8 of 8
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