Access to free credit scores, credit history and credit rehabilitation programs often present the biggest obstacles on the road to achieving financial goals. 1st Financial Federal Credit Union (Wentzville) is hoping to remove these barriers by offering a free Trans Union FICO credit score and providing a no obligation one-on-one counseling session at any of their four St. Louis area branch locations from March 17 - April 30. This free program is 100 percent confidential and open to anyone in St. Louis and St. Charles County. The one-on-one credit review will identify strategies for building credit, recommend options for repairing past issues, and propose solutions for saving money in the long run.
“I recently had a new member come in for a loan on a car and had to decline him because of the records on his credit report," says Jamie Kehoe, lead financial service representative (St. Charles branch). "He didn’t know anything about how to establish or maintain good credit. His loans were in collections and one of his vehicles had been repossessed. Eventually, we were able to qualify him for an auto loan with a cosigner which increased his non-existent credit score to the low 600’s. Now two years and several loans later, this member has a 748 credit score and proud to have achieved many of his long term financial goals.”
She explained that she earned his trust by taking the time to look at his situation and explain what needed to be done.
"I am very excited to continue supporting our community by teaching the importance of good credit and provide opportunities to rebuild and repair past damage,” continues Kehoe.
Providing a program to help restore good credit and work towards achieving financial success is just one more way 1st Financial Federal invests in their community.
“I think this is a wonderful service,” said Nancy Tate, lead financial service representative (Wentzville branch). “Many of the people I meet don’t know what is available in their credit report. Most are unsure who they can trust with fixing their credit.”
She has been working with a one member for the past ten years. Recently, he fell on hard times.
"We have been able to help him right his ship, save him close to $400.00 a month through loan consolidation, and create a payment plan to rebuild his credit," says Tate. "We are so excited, knowing this program will give us more opportunities to give back to our community.”
Interested members are urged to contact a member service representative at any 1st Financial Federal Credit Union branch before April 30, 2014. This is the form they fill out.