A Zeal member since 2009 never had a loan over $1,000. After a charged-off credit card in 2019, he worked with our asset recovery team to repay his balance and regain full services. A few years later, he applied for an auto loan, but due to limited credit history, he only qualified with a co-signer and high interest. Instead, he opened a credit card to build his credit.
Just over a year later, he returned—this time in urgent need. His car had broken down, and as a father of four working two jobs, he needed transportation immediately. He’d been denied elsewhere and came into the branch looking defeated. A dealership was holding a car for him for one day only.
Our branch manager acted fast, contacting our lending underwriters. Within 45 minutes, he was approved—with a much lower interest rate of 8.74% and a manageable monthly payment. Had he financed through the dealership, his rate would’ve been over 17%.
The relief in his voice was unmistakable. Since then, Zeal has also provided him with a small personal loan to continue building credit and ease financial stress. He’s still renting but dreams of owning a home—and now, he’s on the road to making that dream a reality.
CU Strategic Planning, a Callahan company, submitted this member impact story on behalf of the credit union.
