One afternoon, a member walked into a University Credit Union branch planning to make a simple deposit. During a friendly conversation, our team noticed she had a credit card with us that she’d held for quite some time … at an interest rate of 20%. Recognizing an opportunity to help her save money and improve her financial wellness, we asked if she’d be open to exploring a refinance option.
She was pleasantly surprised and agreed to apply. We also recommended a credit limit increase, given her long-standing relationship with us and responsible usage.
The results were fantastic: she was approved for a new credit card at a significantly lower interest rate of 11.99%, and her credit limit increased by $5,000. What made this moment even more rewarding was seeing how far she had come. When she first received her credit card, her FICO score was 620. At the time of this application, her score had climbed to over 750, a reflection of her dedication and financial growth. The member was overjoyed! Not only because of the lower rate and higher limit, but also because she hadn’t realized how much her credit had improved.
This story is in no way unique to the movement (it’s what we do), but it will always be unique to the member, and that is what makes all the difference. At UCU, these are the moments we live for — helping members achieve financial milestones and celebrating their success along the way.
