Member Saving Stories

That feeling you get when you help a member SAVE A LOT OF MONEY.

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This member visits the Seattle branch regularly and I started working on his auto loan refinance back in 2018. At that time he said he couldn’t apply because he was working on improving his credit, but he promised to come see me as soon as he got to where he needs to be. From that point on, he would come in occasionally and update me on his progress; and I even offered some advice on what he could do to improve his credit. Fast-forward to a couple of weeks ago, when he walked into the branch and walked straight to my window. We did his transaction, and I told him I believe it’s time to look into refinancing that car. He asked me to call in couple weeks so we could talk about it. I put a reminder in my calendar, and when I called to see if we could start the application process he said, “You caught me at a good time, so let’s do it.” We did the refinance application over the phone, and I told him I’d call as soon as we received a decision back from lending. While processing his application, I noticed there were other loans we could help with…

Once I got the approval back from Lending, I gave him a call and he was super excited by the news. Before the momentum could die, I said, “How would you feel about getting some of that debt off your back?” He replied, “Please tell me that’s possible.” I told him we could do a personal loan to pay off his higher rate debt. Before ending our conversation, I asked if he had any plans coming up—he said his grandma’s birthday was soon and they were planning a family vacation. I said, “Today is your lucky day, because we can help with your debt AND provide extra cash to take care of those expenses.” We submitted an application for a personal line of credit, which he could access when he needs it and doesn’t have to worry about making payments if he doesn’t use it. Both loans were approved and we lowered his auto loan rate, which cut about $3853.00 in interest and his monthly payments went down, saving him $182.33 a month. Getting rid of that high rate debt and making his grandma’s birthday dreams come true, is all in a day’s work!