While certain types of debt can be useful in many cases, it can become costly in others. In 2020, our 业务 Development Team set out to educate members on the impact of debt using our popular new “All Hands on Debt” workshop, offered onsite at many of our partner organizations. The class highlights strategies for paying down debt, including the creative approach of using the equity in your home to save money on interest rates.
Brittani戴维斯, Director of Human 资源 at iLAB, found the idea of paying off her higher-interest debt at a lower rate compelling. She reached out to Ron Ellis, her dedicated 元素 Relationship Manager, “looking for direction on how (she) could be more intentional in paying debt off in the most financially responsible way possible.” Ellis knew just the right solution – a 房屋净值 Line of Credit from 元素.
While many members of 元素 use their 房屋净值 Line of Credit for home improvements, 度假屋, 和旅行, Davis has been able to pay off high-interest debt at a significantly lower rate, saving her a large sum of money over the length of the loans. Our HELOC product boasts a low rate and flexible terms to fit our members’ individual needs.
The 元素 team wants you to make financially responsible choices and does not pressure you into any decisions. You always have a very positive and personal experience!
Davis explains that Ellis has been there for her personally, as well as for the staff of iLAB to “help answer questions and direct employees to the best person to find a solution.” Because of her positive experience, she has expanded her relationship with 元素 to include a savings account and regularly uses our online banking platform, explaining that it is “easier to use, especially when transferring funds to external accounts, than most other institutions.”
在元素, we’re proud of our members, 像戴维斯, who have found unique ways to use our products to improve their overall financial wellness!
