HPAL: Kinetic Credit Union saves member more than $5K

HPAL: Kinetic Credit Union saves member more than $5K

The story below is just one example of how Georgia credit unions help people afford life each day. This account was featured in Georgia Credit Union Affiliates’ 2017 Helping People Afford Life Stories booklet. 

While conducting preliminary research for a member interested in refinancing a loan at Kinetic Credit Union, the loan originator noticed a homestead exemption had not been filed on the property.

The homeowner was entitled to claim the exemption, so the credit union loan officer reached out to discuss it with the member.

After looking further into the matter, the loan officer located a copy of the member’s warranty deed from 10 years back. Advising the member to contact the Muskogee County tax commissioner’s office, she sent him the contact information and the deed so he could move forward with claiming his exemption.

A few weeks later, the member stopped by the credit union to report he’d taken the advice. He was happy to confirm that when he went to the courthouse to file the paperwork, he was told his taxes would be zero for the next two years, saving him more than $5,000 over what he was paying previously.

The member receives disability benefits and this savings makes a significant impact on his financial well being.

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