Mountain Credit Union regularly compiles and shares its member
success stories. The following success story comes from Fletcher Branch
Manager Tara Garrett.
"A member came to me because her husband had passed away recently.
The Department of Social Security reclaimed the funds of a previous
direct deposit by taking the check amount back out of the account from
the month in which he had passed away. This meant that the account was
in the negative for over $1000! She had asked to set up payment
arrangements but told us that she could only afford $25 a month (which
would have taken about 3 ½ years to pay back!). She herself is on Social
Security and on a very limited income.
"She was telling me about all of her bills and I stopped her when she
told me what her car payment was. I asked what kind of car she drove and
started to look up the value as she continued to tell me her story. By
the time she had finished her list, I had determined that we could not
only refinance her car and pay off her negative account with MCU, but we
could also pay off most of her credit cards.
"When it was all said and done I had saved the member $300 /month.
That’s over a quarter of her monthly SS income back in her pocket! I was
also able to remove a burden by setting the payments up on payroll
deduction. As an added bonus, paying off these revolving credit card
accounts will also increase her credit score by as much as 70 points!" -
Tara Garrett, Branch Manager, Mountain Credit Union in Fletcher, NC