4 Stories of Credit Unions Making a Difference for Members

As people continue to face challenges, make changes in their lives, and expand their horizons, credit unions continue to support members with whatever financial needs come their way. While most members go to their credit union for their regular, everyday banking needs, there are times when credit unions and the services they provide have made a tremendous impact on people’s lives and the community. Here are some of those stories from our credit unions.

Greenville Heritage Federal Credit Union

A 29-year-old single mother with four children went through a separation due to domestic violence. When they separated, her soon-to-be ex-husband kept her car and the house, and she and her children were forced to live in a shelter until being taken in by one of the mother’s friends. Finances were a constant struggle. The funds she did have were primarily used to pay for rent, food, the attorney helping her with her divorce, and Uber fares for transportation to and from work and her children’s school. Over time, she fell behind on her credit card payments and other monthly bills, and the combined delinquency and maxed-out credit cards took their toll on her credit score.

It was at this point that she approached Green Heritage FCU for help. She explained that she needed a personal loan to help pay off her credit card bills, put a security deposit on an apartment, and purchase Christmas gifts for her children. She also needed help with another important financial matter: buying a vehicle. Not only was Greenville Heritage able to help her with all of those things, but she was also able to start back up a small business that she previously ran with her ex-husband, and she and her children were able to have a Merry Christmas with a roof over their heads!

Abbey Credit Union

A 30-year-old single mother of two children with disabilities had to work long hours at a nonprofit to support her family. She first learned of Abbey Credit Union through a Branch Manager at the Troy Abbey Office, and through that relationship, she eventually moved all her banking to Abbey.

One day, she came to the credit union for a loan request. At the time, she was going through a divorce and worried she was going to lose her house. Thanks to a cash-out refinance mortgage from Abbey, she was able to refinance the house in her name alone and pay off her other debts. In the end, she was able to increase her monthly cash flow and hold on to her house.

Centric Federal Credit Union

A husband and wife wanted to help their community, so they formed an LLC to provide non-emergent medical transportation. Through the business they started, they were able to help those in their community with medical issues and ensure they had access to the care they needed.

Recently, after hearing about the husband and wife’s program, Centric FCU stepped in to help them purchase another van for their business. With Centric FCU's support, they were able to help more people in their community, grow the business, and improve its reliability.

Guardians Credit Union

Through their nonprofit partner, Family Promise, Guardians Credit Union met a member who needed help escaping a deep financial hole. This particular member could not stay in her apartment because of her debt to a “pay here” car dealer and another online lender. When asked why she chose those lenders, she said that it was what other family members did and that she didn’t believe she could get a loan from a traditional bank. Additionally, before coming to Guardians, she had never heard of credit unions!

With Guardians' help, she was able to refinance her payday loan at a much better rate. Six months later, her credit had significantly improved, and the credit union was able to help her refinance the car again and get her monthly payment down to an even better rate than before! The member is also making plans to get out of her high-interest rate credit card through Guardians’ low-rate balance transfer program!

Credit unions continue to help the people they serve in many ways. Whether educating people about credit unions or helping them get out of a rough financial situation, credit unions make an impact in big and small ways. See more of our credit unions’ member impact stories here.