A member was experiencing significant difficulty making ends meet and wanted help consolidating her debt, paying off higher-interest loans, and getting slightly ahead financially. She was the first member I worked with in our Resource Center, which was created to support our community with financial literacy, debt consolidation guidance, assistance with loan and job applications, résumé support, and, in the future, mortgage application assistance.
I explained that her FICO score had fallen below my approval authority and that the loan application would need to go before the Loan Committee. I shared that I believed in her commitment to becoming debt-free. After totaling her obligations, including an unsecured loan with the credit union, she owed approximately $11,913.62. I explained that she would need to demonstrate good faith by providing proof of payoff for her debts. I also shared that her success in repaying the loan, should it be approved, would help us assist future members in similar situations, while a failure could impact our ability to do so.
She is a single parent who earned her bachelor’s degree and was working toward a CPA designation. She is driven and resilient. She had recently left an extremely abusive relationship where she feared for her life, and her father and stepmother brought her back to Molokai to ensure her safety. As she navigated rebuilding her life, she needed a hand up, and I believed the credit union was able to provide exactly that.
When the Loan Committee approved her loan, she was overwhelmed with gratitude. She sat and cried and thanked us for believing in her. She kept her word, provided proof of payoff, and has remained faithful in making her monthly payments. As a member of this close-knit community, I find it a true blessing to be in a position to help so many people. Our kuleana to our lāhui and our community embodies our motto of People Helping People With Aloha. We strive to create a safe space where members can survive and thrive throughout their financial journey. Kulia i ka nuʻu.
