Early last spring, a member reached out to us in need of a new furnace for her home. During the application process, she mentioned that her credit was not in great shape, which prompted a conversation. She explained that she had lost her husband a few years ago and that prior to his passing, they had used credit cards to cover medical expenses, travel, and other costs. She was now having difficulty keeping up with the monthly payments.
After reviewing the numbers together, I worked the application for enough to cover the cost of her new furnace system and pay off her most problematic credit cards, which she was happy to close. While her credit scores and recent payment history had faltered, we were able to help her based on her long-term relationship with the credit union and by understanding the full picture. The loan allowed her to have a safe and secure home with a new furnace installed and improved her financial stability by eliminating high-interest debt and lowering her monthly payments.
