For six months, Connex Credit Union will be working closely with five participants to see who can become the most fiscally fit to win a $3,000 grand prize. Each participant has been paired with a Connex Financial Advocate who will offer real-world, practical advice on how to reduce debt, build savings, and many other helpful financial tips and advice. Connex received over 100 applications for the fourth annual ConneXfactor competition! Below is our update on Deborah F.
Deborah F.: Lowering Loan Payments
Coach: Michael Federico, North Haven Assistant Branch Manager
Throughout the last few weeks, Deb has made some significant changes to her finances. We had previously paid off her credit cards with a Connex Signature Personal Loan, which resulted in a lower payment with a true maturity date. We were also able to reduce her monthly auto loan payments. Her A+ credit score allowed us to approve her for the lowest rate by refinancing her auto loan that she previously had through the dealership.
For the upcoming weeks, Deb and I have devised a plan that will help us to allocate her funds in a more efficient and manageable manner. I am extremely impressed by Deb’s commitment to stick to her weekly budget where we have dedicated specific amounts of her paycheck towards her auto loan, personal loan, and her emergency savings account. At this point in the competition, Deb is looking like a strong competitor! She is starting to truly see her brighter financial future as a closer and closer reality.
Do you need help with making your loan payments more manageable? Join our ConneXfactor contestants and let our Financial Advocates work with you to create a financial plan to help you stay on track! Stop by any branch or get started online today!