People Helping People
What Our Members Say...
A Contact Center Representative recently dealt with a member who had submitted an e-BRANCH message regarding a debt consolidation effort. Patriot contacted the member to find out more about the situation and discovered that the members spouse recently lost his job, and while he's now working again, he's making less money. Through this transition, the members have depleted their savings in order to keep their bills paid. The Contact Center Representative explained the various loan options that PFCU offers. They did apply (via Loan Connect) for a $60,000 Home Equity Loan over a 15 year term, by which they will satisfy balances owed to another financial institution, major automotive manufacturer and two existing PFCU loans. The consolidation will be saving them approximately $520 per month! The members are elated that they'll be saving this kind of money!
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Non-members came in to inquire on what it would take to open a new membership as they were not happy with their curren financial institution. As the membership officer discussed the advantages of becoming a new member she also discussed current interest rates and reviewed their credit report. We noticed that they currently had a 1st mortgage and some outstanding balances on their credit cards. We talked about Patriot's great rates and the possibility of debt consolidation. As a result of these conversations, Patriot added two new members to the credit union.
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An individual who lives in West Virginia, stated that she and her husband had a vehicle loan with PFCU that was paid off last year and then the member closed the account. She said they were very happy with PFCU and were concerned they wouldn't be able to rejoin since they live and work in WV. Patriot's Membership Officer inquired about more eligibility possibilities and discovered that they do attend church in Hagerstown. She was very happy they would be able to become members again and will be in with her husband on Friday to open a savings and checking account with direct deposit.
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Non-members came in to inquire about becoming new member as they were not happy with their current financial institution. Patriot's Membership Officer discussed the advantages of becoming a new member and discussed current interest rates as well. After speaking about Patriot's great rates and the possibility of debt consolidation, Patriot has two new members with direct deposit and a Home Equity Loan in process.
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A Patriot Membership Officer spoke with a member about her first mortgage, currently at 6.50%. Because of her balance, remaining term and excellent credit she could refinance her first mortgage balance into a fixed Home Equity at 5.25%, saving her about $4000 in interest plus saving on first mortgage closings costs. Additionally, it will make it easier for her to put extra on the principal, because her goal is to pay it off by the time she retires. Member was very excited to be able to lower the rate and keep it in-house.
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A member came into the credit union to inquire about adding a garage to their home. In reviewing his credit, a Patriot Membership Officer also consolidated credit cards and current home equity. Thus reducing on credit card balances and saving our member thousands in interest.
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A non-member came into the Wayne Avenue office to request a $4,000 signature loan. After qualifying the individual for membership, the Membership Officer opened a savings account for him and established direct deposit, to save him from making unnecessary trips to the credit union. While qualifying him for the signature loan, she noticed he had a vehicle loan at another institution with a loan rate of 8.25% APR. The Membership Officer brought his vehicle loan to PFCU; gave him a lower rate of 5.50% APR; and provided him with the additional cash he needed, using the equity in his car loan. The member left with a smile. He was saving interest on his car loan - had been given the money he requested at a rate lower than he would have paid on the signature loan -and his vehicle loan payment stayed the same!
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