A member I have known for a while — we worked together at Walmart and know a few of the same people — opened an account in 2023 so he could have a place to save money that was a little harder to access. I did a soft credit pull and talked to him about the importance of having good credit. I gave him a few tips to help give him a bit of a credit boost. I told him if he could pay down on credit cards, keep the balances low, and refrain from subprime use, he could see an increase in his score as his current score was 609.
A few months go by, and he comes back wanting to refinance his vehicle. He tells me he has been paying for his car with One Main for two years and feels like he has barely made any progress. We pulled his credit and his score had improved by 60 points to a 669! We refinanced his vehicle and also gave him one of our credit cards. The next time he came to see me, his score had gone from 669 to 741 in less than six months. In the three years that followed, the story continues to get better. He had a baby and recently sold the auto that we refinanced and used that money to buy a truck with room for his growing family. He has also been able to become a homeowner! His score is sitting comfortably at 778, and even though I only played a small role in his life, I am glad Family Savings gave me the chance to do so.
People today just need someone to listen and not judge, provide advice, but most of all care.
