A member called after receiving our auto loan promotion email – he had an auto loan he wanted to bring to us and refinance for a lower rate and payment. We started his application right away, and once I got the credit report pulled up for him and his wife, I saw they had a lot of credit card debt. I already knew they owned their home, and I wanted to see if we could help them out with a debt consolidation plan, so I suggested an equity loan to pay off some of those cards. He was very agreeable and said they had been discussing doing some type of debt consolidation for the cards, but they didn’t know where to start. Good thing that email prompted him to call us!
I explained our equity loan options, and they ultimately decided to go with the Option Equity Line of Credit. We also discussed getting them approved for our low-rate Visa Credit Card, and the interest rate we approved for them was substantially lower than any other card they had. In the end, we were able to reduce their monthly payments by quite a bit, all because we sent out an auto loan promotion. That one phone call gave me the opportunity to help these members pay off those balances at a lower rate, which will help improve their financial situation – that’s what we’re here for!