Debt feels overwhelming. A looming lurking presence that you can’t get rid of, a boulder fastened to your shoulders, slowing your progress up a very steep climb.

It doesn’t have to be this way.

While there may be many complicated emotions associated with debt, there are actionable solutions to help you get rid of debt for good.

First, recognize the Earthmover difference. We are here to provide personalized solutions tailored to your specific financial needs. Stop by a local branch or give us a call at 630.844.4950 to talk. We are here to help.

Now, let’s get into some debt solutions. Initially, we will try to get a complete picture of your finances, including income, expenses and debts. In addition to budget counseling, there are many options to consider.

Debt Solutions

  • Debt consolidation: If you have several sources of debt, consolidating them into one monthly payment makes it easier to pay off and save you money. Personal loans work well for debt consolidation, but they aren’t the only option available. Our goal is to secure a lower interest rate to reduce monthly payments and save you interest.
  • Use your vehicle: If you own a vehicle, using the vehicle title as collateral to consolidate debt is an option.
  • Home equity: Do you own a home? If so, we can calculate available equity to see if a home equity loan or line of credit would be a good fit. Home equity loan products often have lower interest rates and longer terms than other products, translating into an affordable payment each month. There are no prepayment penalties, so you can even pay your loan off sooner.
  • Balance transfer: Members with high-interest credit card debt can use Visa balance transfers to move their high-interest credit card balance to a credit card with a lower rate.

Other Options

In addition to the above options, financial counseling plays a significant role in preventing future debt. We partner with the Aurora Financial Empowerment Center (FEC), which provides free financial counseling services for the community. The FEC is a fantastic resource to support you on your financial journey. Money management can be just as overwhelming as debt. The FEC can help you learn smart money habits to ease the burden of debt and expenses.

New Insights

One of the ways we measure that impact is through Insight, our program that tracks the interest our members save by refinancing their loans with us. Since 2011, Earthmover Credit Union has helped members save more than $53 million in interest through loan refinancing.

Looking for ways to strengthen your financial future? Ask about Insight360, our complimentary, comprehensive financial review. During an Insight360 session, our team takes a holistic look at your finances, identifies opportunities to save and recommends solutions tailored to your goals.

Ask for an Insight360 at your next visit and discover how Earthmover Credit Union can help you make the most of your money.

We Are Here to Help

Debt can be intimidating. With Earthmover Credit Union at your side, it doesn’t have to be. Our experienced team is trained to find actionable solutions to equip you with the financial resources needed to succeed. If you’re finding it difficult to deal with debt, give us a call at 630.844.4950, stop by a branch or send us a message. We are here to help.