Long-time TAPCO members were experiencing severe financial and medical hardships. The husband suffered a disabling medical event that left him permanently disabled, unable to work, and requiring constant monitoring. As a result, the wife was forced to find a new job that allowed her to work from home so she could provide care. They also had to adjust to the loss of more than $6,000 in monthly income due to the husband’s disability.
The wife faced the overwhelming challenge of keeping up with monthly expenses while needing to purchase a new vehicle, help their son repair his car, pay for their daughter’s wedding, manage outstanding medical bills, and serve as a full-time caregiver. The members came to the TAPCO Main Branch seeking financial solutions and guidance.
A branch employee listened carefully to their situation and recommended using their home as collateral to consolidate debt and access additional cash. We completed a 15-year fixed second mortgage that consolidated seven credit cards, an auto loan, student loan debt, and provided cash for a new vehicle, vehicle repairs, and their daughter’s wedding. Even with the additional cash disbursed, their monthly debt ratio improved.
This solution significantly improved their financial situation, reduced stress, provided peace of mind, and demonstrated TAPCO’s mission of Bringing Humanity to Financial Services. At loan closing, the members expressed deep gratitude for everything TAPCO had done for them, both in the past and present.
