TruPartner Credit Union’s Post

Tips to Rebuild Credit after Bankruptcy

"Life after bankruptcy is a gradual recovery process. Your credit score will rise and you’ll eventually qualify for loans again. What are the best ways to ensure you get your credit back on track? Here are 6 tips to rebuild credit and qualify for loans again in the fastest way possible."

I often will say that having good credit provides the opportunity to achieve personal goals and dreams. A dream is great, but what good is it if you cannot accomplish it? My client Ben in Austin had a dream of owning a supercharged Rousch 705 horsepower F150. He told me about all the bells and whistles he wanted on it; he already had it on order and it would be ready in 2-3 months. Problem was-his credit was not where it needed to be, so if he wanted to complete the loan he was needing to put down nearly half the cost of the truck-approximately $40,000 to make the purchase. So Ben reached out to Your Credit Medic - "Will L. Smith" to see what could be done in that short period of time to improve his credit and complete the loan without as large of a down payment. In 3 months we improved his score over 100 points. More importantly he was able to go back to the lender and purchase the truck with much smaller down payment and a great rate. That money he was going to spend on the down payment can now be invested or used to pay off other debts to help save on interest rates. Not only did he achieve the goal of buying his dream truck, but he is now able to be financially empowered like never before. Everyone's credit is different, everyone has different hopes and dreams. Hebrews 11:1 states that faith is the substance of things hoped for-Ben placed his faith in The Phenix Group and the outcome was his new ride. #thecreditmedic works with people all over the country providing customized game plans to restore credit and achieve dreams. It's why we say we are #MoreThanCreditRepair. If you want your credit to be more than what it is now, call me today. 469.200.3071 wills@thephenixgroup.com #teamphenix #creditscore #PreferredPartners #homebuying #carpurchase #realclientsrealresults #realestate #credit #TheCreditExperts #MortgageCreditPros #realtor #creditrepair

From humble beginnings to nationwide impact, credit unions have been empowering communities and individuals for 90 years. The earliest U.S. credit unions formed when neighbors and co-workers pooled their funds to provide low-interest loans. This idea of cooperative credit spread quickly, with many states passing laws that allowed credit unions to form under state charters. As we commemorate this milestone, we honor the spirit of cooperation, financial empowerment, and community support that defines the Credit Union Movement. Here's to 90 years of putting people first! Read the full article here: https://bit.ly/3Rho55N

When it comes to running a business, it's essential to build and maintain your business credit. At Redstone Bank, our team is here to help you build a solid credit profile. Here are a few tips from Littleton Market President, Heath Kinsland: https://lnkd.in/gtX62W8v #yourcommunity #yourbank #redstonebank

Announced at the end of March, Cascade Community Credit Union received top rankings through the nationally recognized S&P Global Market Intelligence list, ranking as the #1 Credit Union in Oregon and #2 of 4,900 Credit Unions in the United States in 2023. According to the data and analytics firm, S&P Global Market Intelligence calculated scores for each credit union based on five metrics: member growth; average loans per member; net worth as a percentage of total assets; delinquent loans as a percentage of total loans, and return on average assets. Cascade Community CU has ranked amongst the top credit unions in the nation for several years, proving not only their commitment to excellence locally but to the highest standards achievable. Cascade Community CEO, Lynn Calvert said that “For years, our organization has been recognized with this achievement from S&P Global Market Intelligence, this year with our highest ranking yet and it’s one we are exceptionally proud to receive. This accomplishment further solidifies our position as a nationally-recognized financial institution where members can feel safe about their financial future with a local organization headquartered in Douglas County for over 75 years. This is also evidence of the pivotal role our dedicated employees play in our success by meeting, or exceeding, our communities’ expectations day in and day out.” https://lnkd.in/guvDRb7n GoWest Credit Union Association Roseburg Area Chamber Commerce

⭐ Fourth Tip on how you can always be Superman (or Superwoman): Don't Be Quick To Sell ⭐ If you want to be recognized as Superman and authentically help as many people as possible, then I recommend you are not quick to sell your bank's solutions. I completely understand that it is important for a bank to open more deposit accounts and close more loans in order grow. And as bankers, it's fundamentally your job to promote all your great financial services. But that's what Clark Kent does. He simply does his job every day. And that doesn't really make him super or special in any way. Instead, be quick to offer professional advice to anyone and everyone regardless of whether they are likely to open an account or apply for a loan with your bank. Build trust and credibility... don't be a used car salesman. Understand needs and offer guidance... don't just recite features and benefits. Be a financial adviser- not simply a bank employee. By being Superman and authentically offering advice, you will soon be opening more accounts and closing more loans than Clark Kent ever will. Please feel free to comment and/ or share with your colleagues. #financeprofessionals #salestraining #newsletter #superhero #bankingsuccess #communitybanking

*** ATTENTION MY HUMAN RESOURCES FAMILY!! *** If your organization does not currently have a relationship with a respected, 70-plus year old financial ally like, ohhh -- First Financial of Maryland Federal Credit Union, then you're missing out on offering awesome rates on loans, credit cards and certificates of deposits to your employees, along with several other added perks that "standard" banks do not offer! Take a look at this terrific article that details many of the issues consumers have today with Big Banks and consider a FREE partnership with #FFFCU!

Those who know me know my passion for credit unions run deep as a member/customer of several of them and as an executive in the industry for over 20 years. Our industry needs a purpose revival in which credit unions truly live their mission statements on a daily basis reflected on its operations and decision-making. What happened to the philosophy of “people helping people”? What happened to serving the “underserved” and the “unbanked”? Mind you the underserved and unbanked are the low-income households, mostly minority demographics , immigrants, people with poor credit scores, the youth with no credit history, and mostly the financial illiterate (not exclusive). Isn’t part of the founding purpose of a credit union to cater to these population segments? Don’t these segments of the population need the most financial help and they are the ones being penalized the most with higher fees and rates and “some” discrimination? Are credit unions too focused on balance sheet growth and have become gentrified focusing primarily on high-income earners and people with good to great credit scores? The equation here seems upside down 🙃

In the world of credit unions, collaboration isn’t just a buzzword – it’s a key strategy for success. A Credit Union Service Organization (CUSO) brings credit unions together, allowing them to pool resources, share insights and ultimately provide better services to their members and communities. Learn more about our exclusive CUSO, CU Servnet and how we provide a member-centric approach for our credit union partners. #CenlarIsSubservicing #cenlar #cenlarfsb