A disabled 60-year-old member living on a fixed income came to us in January of 2025 needing funds to repair her car and purchase new tires. She had been introduced to us through a community seminar on budgeting for seniors. With a 515 credit score, no previous lending history with us, and some delinquencies that occurred when she was in a tough financial position, we were unable to provide lending at that time.
We offered her a credit-building share-secured loan of $300 and educated her on the benefits of the loan and the importance of making payments on time. She made all six payments on time, improving her score to 599 by August 2025. At that point, we were able to provide a small $1,400 personal loan so she could repair her car and purchase the new tires she needed.
She is now saving for a down payment so she can apply to purchase a new car altogether. She has paid this loan perfectly, and we expect her to purchase a new vehicle with us this year. Her credit score as of November 2025 was 625 — an increase of more than 100 points in one year. She was very happy that we didn’t give up on her and helped her build positive credit history, with credit score improvement paving a path to an auto loan with us.
