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.
A Platinum Federal Credit Union member was in the process of obtaining a new auto loan, but was having trouble deciding whether he should trade in his existing vehicle at the dealership or sell it to a private buyer.
With an existing balance on the loan, he didn’t want to get stuck making two monthly car payments.
Coincidentally, another member visited the branch and mentioned he wanted to purchase a used car for his work commute. He said if any other credit union members were looking to sell their car, he would welcome the opportunity to talk with them.
Know the situations of both members, a loan offer reached out to them separately to dicuss the possibility of making a deal. They each gave permission for their contact information to be shared. They then connected and agreed to mutually beneficial terms.
The credit union financed the buyer’s loan and everyone met at the branch to finalize the transaction.
The new buyer received a great car for his commute, the seller received his full asking price and the credit union helped two members achieve their financial goals.