Member Saving Stories

Holly (and an Option Equity) Saves the Day!

I met this member’s husband a few different times at the Seattle branch. We chatted about how to improve he and his wife’s financial situation, but he said his wife did all the financials and I should talk to her. Well one day, in walks the Mrs.! While I was helping her, I struck up a conversation about their Gateway Line Of Credit and how since she had it for several years it would be a great time to upgrade to a Visa Gold credit card. I also encouraged her to look at options for her auto loan and RV they had recently purchased. We took an application, but before she left, I had one more question: “Are you paying on other credit cards?” She laughed and said they had a few…

I suggested it may be helpful to consolidate, and she said she didn’t know we could help with that. Her only concern was she had so many different cards that we might not be able to take care of them all. I reassured her we would look at everything and do our best to lighten the load. She told me she would love to look at her options, but wanted us to run the application first, and then decide what to do once she knew she was approved.

As it turned out, they had excellent credit even with quite a few credit cards. Since they owned their home, our Option Equity Line of Credit looked like a great way to minimize those monthly payments into one manageable payment at a lower ratethat’s what we are here for!