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Destination: Financial Health, Part 2

May 10, 2024

A new series highlighting real member success stories with Choice Map.

Credit built brick by brick

Achieving even the biggest, boldest, most audacious goals begins with a single step. Last fall, a Community Choice member visited our Livonia member center with a dream of buying the home he’d been renting for years.  

To move from renter to owner, he thought he’d need to improve his credit score, and personal advisor Elizabeth K. knew just what to do to support him.  She used her training as a Credit Union Certified Financial Counselor and our Choice Map program to help him improve his credit score and build his savings. 

She started by reviewing the member’s credit report, revealing a few small debts he had recently paid off. Taking care of older debts gave him forward momentum, so next she recommended two simple steps to build a positive credit history and expand his credit mix: applying for a Secured Credit Card and a Share Secured Loan gave the member new opportunities to establish credit usage and payment history. He agreed with the recommendation and successfully opened both accounts.  

Balancing saving and borrowing

On top of responsibly managing both his new card and his loan, he deposited funds into his savings account every time he made his payments. In less than six months, this credit-savvy member has saved almost $2000.  

When he started his Choice Map journey with Elizabeth, this member’s credit score was 569, and he would likely have had trouble being approved for a mortgage to buy his home. Today, he has lifted his score to over 700, so he is well on his way to living his dream of homeownership. 

Maybe these stories feel familiar – or maybe you’d like to write your own? Let’s connect. We’ll meet you wherever you are today and chart a path toward a brighter tomorrow.