Member Moments

We take the time to review your entire financial picture and make recommendations that make the most sense with your financial goals. Here are a few ways Premier Credit Union is Making Life Better for our members.

 

Friends helping Friends (March 2015)

A new member came into the Ames office with an existing Premier Credit Union member.  She had been to several other financial institutions to see about consolidating debt.  With the other financial institutions unable to help her out, she came to Premier Credit Union and was very pleased to find out she qualified for a Home Equity Loan to consolidate several credit cards as well as a few other things.  She had been with a different local credit union for over 20 years and because Premier was able to help her out, she switched all of her primary banking over to Premier.  She has even referred her son for a consolidation loan as well!

 

Yes, They Sell Trucks! (February 2015)

In the February e-newsletter blast, we featured an article about our partnership with Enterprise Car Sales in Urbandale, IA.  Upon reading the email, one of our long-time members’ visited Enterprise Car Sales as they were in the market for a pick-up truck.  Cory Tass and his team over at Enterprise Car Sales were able to find them a beautiful Dodge truck.  When you are in the market to make a vehicle purchase, check out Enterprise Car Sales and tell them that Premier Credit Union sent you!

 

Lowering Ratios (January 2015)

While in the process of qualifying for a home mortgage, our member was struggling with their debit to income.  Our Mortgage Officer was able to see that they had equity in their auto, so in turn we were able to combine their vehicle loan and an unsecured loan.  Not only did this lower their interest rate and monthly payment by over $150 but it also changed their ratios allowing them to qualify for a larger home!

 

No More Struggles. (December 2014)

After struggling for several months, a member applied for a signature loan to help pay property taxes.  The member is retired and receives a nice pension, social security and also works part time to help pay for a home equity loan, two credit cards and an auto loan.  As the loan officer reviewed the member’s financial picture, it was discovered that they had plenty of equity in their home to pay off the $12k in credit card debt plus the home equity loan.  The member qualified for a 7-year loan and is saving over $300 a month and was very appreciative!

 

Making Room for 7! (November 2014)

A newly referred member came in looking to expand their living quarters and needed a home mortgage.  While she was preparing for her wedding, she was also preparing to purchase a new home for their new family of 7!   Our loan officer was able to refinance their auto, lowering their debt to income ratio and allowing them to purchase a bigger house for their 5 children.  They were able to close on the new house just in time for the wedding; we wish this new family the best!

 

Falling Short and Charging More (October 2014) 

Recently a member came in looking for a Signature Loan to pay off some credit card debit.  In speaking with the member, it was discovered that by paying monthly medical bills and a high-interest credit card bill it was leaving him short every month thus he was charging more on his credit card.  Our Loan Officer suggested he take out a Home Equity Loan to pay off the monthly bills and switch his credit card to a Premier Gold Card with a lower interest rate to use in emergencies.  By doing this, the member was able to lower his monthly payment by $250! 

 

Take Me Out to the Ballgame (September 2014) 

Congratulations to the following as they were the Winners of the 2014 Premier Credit Union Iowa Cubs Experience!

  • Reshea Moore
  • Brian Boyer
  • Dan Pardock
  • Ruby Fogwell
  • Chris Harwood

Each winner received 4-Premier Home Plate Club Seats to an Iowa Cubs Home Game, $40 in Cubs Bucks, Tossed Out the First Pitch, Shot a Promotional Gun, Received 4 Ball Hats and One Team Autographed Ball.  Congratulations to the Iowa Cubs on a great 2014 season and to all our winners!  Stay tuned for your chance to win next season.

 

Getting Things Back to Square One (August 2014)

Just before a long holiday weekend, a self-employed member came into our main branch location looking to lower a high interest rate truck loan he had, as his current cash flow was making it hard to make the high payments he was facing. When speaking to a loan officer, it was discovered that he had equity in the truck. He was able to take that equity to make his mortgage current as well as pay off a major mechanical repair while still lowering his interest rate and payment. What a great start to holiday weekend plans!

 

Using Your Equity to Pay Down Bad Debt (July 2014)

Recently a member filled out a loan application online for a signature loan to payoff several department store cards as well as other small limit credit cards.  Upon reviewing the application, our loan officer determined that she did not have an auto or a home loan.  After speaking with the member, it was discovered that she was driving a 2009 vehicle that could be used as equity towards a loan to payoff all of those high interest rate cards.  Currently we are in the process of paying off the credit cards and have cut her monthly payment from $798 in credit card payments to one $300 auto loan payment!

 

Happily Ever After (June 2014)

A new member was referred to Premier by his co-worker last fall.  While on a stroll through the skywalks, he was intrigued by a posted interest rate and stopped by to pick up more information.  He was getting ready to purchase an engagement ring and at the same time his co-worker was encouraging him to think about refinancing his auto for a lower rate.  He acted on the refinance and was not only able to lower his rate, but he took the equity in his auto to purchase the ring; leaving his savings account intact to purchase a new home down the road.

 

We’ve got a bright idea…combine two loans into one with a great LOW rate! (May 2014)

Recently a member came in to obtain a Recreational Vehicle Loan for a motorcycle he was purchasing.  Not happy with the rate that the dealer gave him, he sat down to speak with one of our loan officers.  Upon looking at his entire financial picture, he was able to refinance his vehicle to payoff the existing auto loan at another financial institution and use the equity in the vehicle to purchase the motorcycle at a great interest rate.  He was excited to combine the two loans and bring it local, to Premier!

 

Retiring soon?  Now might be a great time to look at your entire financial picture  (April 2014)

A long-time member who will soon be retiring came into a branch location on a Saturday morning to get an advance on his Home Equity Line of Credit to purchase an older vehicle.  Upon evaluating his credit, the loan officer was able to combine a 1st and 2nd mortgage into one Fixed Rate Home Equity Loan with a 3.5% APR that saved him over $500 per month in mortgage payments!  The member left very thankful knowing he would be able to put the savings towards paying down other bills every month.

 

10-10-10 Home Mortgage Product Success (March 2014)

A recently divorced member came into the Credit Union to obtain a mortgage.  Due to recently entering the workforce and a few minor credit issues, qualifying for a mortgage had been a bit of a challenge.  Our Mortgage Officer was able to sit down with her and help her overcome a few difficulties.  By having 40% equity in her home, Premier Credit Union placed her in a 10-10-10 Mortgage product and she realized her home-ownership dream’s could come true. 


Benefits of an Extended Warranty  (Feb. 2014)

About two years back, a member secured an auto loan with Premier and at closing the loan officer explained the benefits of an extended warranty.  The warranty was added and it came in handy recently when the auto needed $2,500 worth of repairs. Because the warranty was in place, the work cost $0 out of pocket and but most importantly, it could not have gone more smoothly. Everything was handled between the mechanic and Route 66 and the member was ecstatic he purchased the warranty and with how well it worked in practice.

 

Lowered Interest Rate From 15% to 4%. (Jan. 2014)

A new member who was referred to Premier Credit Union from a current member stopped by to inquire and secure a vehicle loan.  While preparing the new loan documents they also inquired about a current vehicle loan they had with another financial institution at a 15% interest rate.  We were able to reduce the interest rate to 4%, which resulted in a savings of $120 per month.


Fixed-10 Home Equity Loan & Enterprise Car Sales. (Dec. 2013)

A member came in to get pre-approved for an auto loan and was informed of our new partnership with Enterprise Car Sales.  Since she did not know what type of car she wanted, our Loan Officer explained the benefits of Enterprise and made the introduction.  The helpful staff over at Enterprise found the right vehicle for her on a Saturday afternoon and she was even able to drive it off the lot the same day!  She was overjoyed by the process and is recommending Enterprise Car Sales to her friends and family.

Needing to consolidate a considerable amount of debt, a long-time member came in needing some guidance.  Our Loan Officer was able to get them into a Fixed-10 Home Equity product that saved them almost $300 per month in combined monthly payments.  They left thrilled that Premier was able look at their entire financial picture and guide them to a product that worked for their situation.


1% Cash Back and $100 monthly savings. (Nov. 2013)

A long-time member came in for a home equity advance as they were in a tough spot and needed some extra cash.  Our Loan Officer was able to look at their credit report, see that there was equity in their vehicle, took that equity and paid off 3 high interest credit cards which saved them roughly $100 each month.  They now have a Gold MasterCard which will earn them 1% cash back rewards on their purchases and has a lower interest rate.


Increased Credit Score = $100 Savings and New Member! (Oct. 2013)

A couple, which were not current members, stopped by the Credit Union to inquire about refinancing their auto loan.  Having no credit score prior to this loan, they were paying a high interest rate while trying to build their credit score.  Our loan officer was able to see that they had indeed increased their credit score and was able to refinance that loan resulting in a savings of $100 per month, shortening the term by one-year and new membership!


 High credit card debit paid off and saved over $450 per month! (Sep. 2013)

Recently, a member came in with a high level of credit card debt.  Our loan officer took a look at their entire financial picture, made a recommendation to refinance their two vehicles and provided a small, unsecured loan to pay off that credit card.  This resulted in a savings of over $450 per month to the member.


How did we save a member over $700 per month? (Aug. 2013)

A member came in looking to refinance his car. Upon looking at his entire financial picture, our loan officer recommended to roll his auto loan as well as his first and second mortgage into a Fixed-10 Home Equity product which resulted in a savings of over $700 per month.


Here’s Your Sign! (July 2013)

Out for lunch one afternoon, a member walked past the Skywalk branch and noticed the 1.89% auto loan special sign.  By stopping in, Premier was able to refinance three of their vehicles and saved the member $340 per month.

 

A new rate and shortening up the term of the loan = a member savings of almost $3,000. (June 2013)

A member came in and was told about our 1.89% auto loan special.  Upon sitting down with a Loan Officer, we were able to refinance the auto loan that day and save 9.99% on the rate, shorten their term by 6 months and saved almost $3,000 in interest over the life of the loan.

 


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