A member reached out to us feeling overwhelmed by mounting credit card debt. With interest rates ranging from 17.99% to 27%, her minimum payments barely made a dent, keeping her trapped in a cycle of high-interest debt.
After listening to her concerns and reviewing her situation, our team suggested a personal loan to consolidate her balances into one manageable monthly payment at a much lower interest rate so she could tackle the unsecured debt. We provided a $23,506 personal loan — enough to eliminate her credit card debt without over-obligating her finances to set her up for long-term success.
With her new fixed rate of just 7.99%, the member was able to pay off and close nine credit cards while saving more than $460 each month in payments. The relief was immediate: she no longer faced the stress of juggling multiple high-interest bills she couldn’t afford and could finally see a path toward financial freedom.
Throughout the process, she shared her gratitude for the personalized guidance and support she received. She expressed how uplifting it felt to watch her credit card balances disappear and how hopeful she now feels about improving her credit and achieving her financial goals.
At California Credit Union, helping members regain control of their finances is what we’re here for — and we’re proud to have made a lasting difference for this member and her family.
This story was submitted by Jill Vasant, EVP & Chief Marketing Officer, California Credit Union.
