Member Saving Stories

Catherine comes through for our members, especially when times are tough.

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While running a Personal Line of Credit application for this member, I noticed he had additional loans and credit cards and thought we might be able to turn around his whole financial life! I called to let him know we could potentially refinance his auto at a better rate and also use the equity to consolidate his other outstanding balances. I shared the numbers with him, and he said it sounded like a great deal but he needed a few days to think on it. His debt was related to a recent divorce, so I knew I wanted to make sure we could get him into a better financial situation – he promised to call me back soon.

It only took one night, and he called me the very next day saying he wanted to move forward! We submitted the applications, and then I needed to reach out to him a couple of times because some of the paperwork didn’t reflect the divorce. Luckily we were able to get all of the paperwork straightened out fairly quickly and he was very happy we got things wrapped up sooner than he thought it would be. We paid off his credit cards, consolidated a personal loan, and still managed to lower his auto loan rate from 10.40% to 5.99%. He was previously paying a total of $749 per month, but with the consolidation he will be saving him a total of $281.28 a month and he also took the advantage of our “90 Days No Pay” offer. All in a day’s work at Qualstar!