When Valerie found herself in debt, she popped into Natco Credit Union. See how she turned the corner thanks to a little help from a friend.

Did your credit card debt grow in 2020?

When Valerie came to Natco Credit Union, she reminded us of so many of the members we know. For the past few years, she has been smart about her spending. She hadn’t been able to save up a lot, but her job at a local hotel was enough that she wasn’t falling behind.

Then things changed.

When the pandemic hit, fewer and fewer people were staying at the hotel. There were cuts in hours and staff and Valerie found herself with less income than before. Unfortunately, she didn’t have many expenses that could be cut, she was already managing without a lot discretionary purchases already. The credit card helped cover some necessities, but that’s when the balances started to add up.

The payments started out small enough, but they too began to grow. After a few months, all she could afford were the minimums. But those payments weren’t paying down the balance. Every month, trying to keep up was getting harder and harder.

The Turning Point

It all started with some popcorn. Valerie had covered a purchase for a friend for a Boy Scouts fundraiser When she received the check from her friend, she stopped by Natco Credit Union to deposit it.

There, the member service representative who deposited her check asked her “Valerie, you’ve lived in your home for a while now, right?”

“Yes. I guess it’s been more than ten years now!” She said.

“Would it make sense to talk about using that to have a line of credit, maybe just some security or a way to pay down any debt you might have?”

Valerie immediately agreed to take a look at things with her banker that day.

The Solution

Valerie applied for a home equity line of credit (HELOC). Since she had been keeping up those minimum payments on the credit card, her credit score was still high, and she got a really low interest rate.

She transferred the balance of the credit card to the HELOC and cut her interest rate to less than a quarter of what it was before.

Rates as low as:

3.25% APR

Natco home equity lines of credit include a 10 year draw period plus a 15 year repayment period.

Home equity lines of credit (HELOC) can be used to accomplish many goals. Here’s a couple more examples…

vance family at table (link to story)

The Vance Family didn’t realize it at first, but the best move they could make when they needed more space was to stay exactly where they were.

two people wearing rain boots

When a storm threatened to sink her plans, Morgan found security. See how Natco helped float her through trouble.

The Natco Credit Union HELOC examples are fictitious and not based on real people or stories. Any resemblance to actual events or locales or persons is entirely coincidental. If you’d like to share your story with us, we’d love to hear it! Just contact us here and tell us how you’re putting your HELOC to work.

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Get the help you need today and tomorrow with Natco’s Home Equity Loan

Choose the Natco Home Equity Loan to help you handle life’s goals and challenges. Apply online today. Have questions? We’re happy to help. Contact us at

(765) 962-2561 or …