Building on Equity
UFCU is a big advocate of saving for a rainy day. That rainy day came for Ada M when her family needed her help with some expenses. She was glad that she had the resources to help — thanks to the strong financial basis she had built through UFCU. Ada says:
“It makes me feel good to be able to help my family whenever I can. When my family needed financial assistance, my UFCU representative suggested I apply for a home equity loan to give me the flexibility to manage various financial needs. With UFCU’s help, I was able to do more than I thought was possible.
“I finished paying off my mortgage early which allowed me to retire early. I invested some of my savings with CUSO and I am debt free! Now, I enjoy gardening, playing with my two cats, volunteering, and traveling. Life is good.”
A home equity loan, or second mortgage, is a type of loan available to homeowners with good credit who have paid down much of the principal on their original home loan. Because of her strong financial position, UFCU was able to offer Ada a loan at a low interest rate with an affordable payment. The loan allowed her to help her family — and paid for a kitchen remodel that she had wanted but didn’t think she could afford. The remodel increased the value of her home as well as enriching her quality of life.
It was a smart expense that Ada had earned. She was the first in her family to graduate from college and worked for over two decades as a medical social worker with a large Austin-area hospital system. As a UFCU Member since 1995, Ada has taken advantage of many savings features: certificates of deposit, free checking, savings, and long-term financial planning.
Ada’s practice of good financial health over time enabled her to do well for herself and for her family. UFCU is proud to be a part of her success story, and we’re sharing it to inspire others to join Ada in planning for a secure future.
Member Ada M
Member Since 1995
Services Home Equity Loan, Checking, Credit Card, Certificates