At the Tacoma branch one day, I started talking to a couple of members about upgrading their Gateway Line of Credit to a regular Visa Credit Card since they had been making regular payments on time for a while. Because of their positive payment history, we could likely get them into a better product. As we were discussing their options, our conversation lead to talking about their current auto loan as well. I was sure we could get them a better deal on that loan too, so I got them over to a loan officer.
Once the loan application was submitted, we were able to upgrade their Gateway to a more convenient Visa Card and we refinanced their auto. They would now pay a rate 8% LOWER for their credit card, and their auto loan rate went down from 11.22% to 5.99%. By upgrading to the Visa we were able to help the member continue to build her credit, pay off a small credit card and save them money with a lower rate. The auto refinance also saved them $94.26 every month on their loan payments. That’s what we’re here for!