CEO Discusses Hardship and Debt Relief
Theresa Mann, President and CEO, Shares How the Credit Union Helps Members with Debt Relief
August 16 —Bad things happen to good people. I know that this is true because all of our members are good people. Everyone that has a loan with the credit union fully qualified when they took the loan and most are able to pay the loan back without issue. But for some, the unexpected happens. Whether it’s a health crisis, divorce or job loss, before they know it they are far behind in debt and they feel buried.
What happens next depends on how much they know, how quickly they ask for help and how clearly they can see the information. When we feel buried we tend to hide, no longer opening the mail, answering the phone or paying attention to the information being shared. I know this from experience. When I was younger, my mother and father (who were proud, good people) came upon hard times due to a job loss and I watched as their pride fell through to the soles of their feet. They managed to get through the crisis, but it was not pretty and I now marvel at the courage it took them to address it head on like they did.
I am lucky to work with people here at the Credit Union who are inspired by the opportunity to help others. It is this passion that led Desiree Williams, Debt Solutions Manager, and Cheryl Dickerson, Account Relations Specialist, to become Certified Financial Counselors so that they may help members who need assistance getting back on track. It is this belief in the importance of credit building that inspired our Zipline Credit Builder loan, where people with any (or no) credit score may qualify for a small line of credit to build or rebuild their credit. And it’s certainly this day to day experience of making a difference that led our Loan Officer Shadiamond Harvey to envision our new Reverse Personal Loan where members may borrow the money for a secured loan and after paying it back end up with a nice savings account.
And, while we are committed to working with our members no matter their plight, it is important that each of them be armed with as much information as possible so that they may help themselves. There are many ways that provide both temporary and permanent relief. However, they all begin with a conversation with the lender involved and asking for help earlier is always better.
From temporary relief in payments to working with a debt relief company to bankruptcy. We have seen it all and are ready to help you on your journey.
To help our members and their families, we have written an article explaining the many faces of debt relief. Take a look and feel free to forward it to anyone you think it may help. And, call us at 800-285-3286 any time… don’t wait too long!
Theresa B. Mann