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Does Your FI “Get You?”

It all started when a dedicated lender met with a middle-aged couple who were seeking help in gaining control of their finances. They’d never owned their own home and raised their family moving from rental to rental, never really feeling ‘at home’.

At that initial meeting, the lender determined that while the couple longed to purchase their own home – they didn’t believe it was possible. By their own admission, they weren’t particularly comfortable with the concept of money management or budgeting.

So they sat down together and immediately devised a plan.  First of all, the lender asked that they keep a diary of every penny spent for an entire month.  The couple was a little intimidated by this request but, with their financial goals clearly in sight, they agreed to do it.  After one month, they returned and reviewed their spending record with the lender. They were astonished by how much money was spent on small things such as shopping at convenience stores versus planning and purchasing their supplies at supermarkets.

The lender then asked permission to develop a plan which would see them own a home in one year’s time.  The only condition was the budget and plan needed to be followed in every detail. The couple was thrilled to think that owning their home could actually become a reality.

A consolidation loan was established to effectively manage the outstanding debt, a full budget completed, and weekly contributions to a RRSP began.  They also committed to investing their future tax refund into the new RRSP. As expected and before long, their RRSP grew, and they soon had enough money for a down payment using the first-time home buyers plan.

Exactly one year later and according to plan, this 48 and 52 year old couple moved into their very first home, in no small part due to the tenacity of the credit union employee. She clearly embodied the belief that working with a credit unionis banking that goes further!

There’s no doubt in my mind that this employee totally ‘got’ her members because she took the necessary steps to truly understand their unique financial situation before recommending a custom solution.

To quote the lender “I’ve helped a lot of people obtain a first home in my career, but this one was the most rewarding.”

Interested in more information about Home Financing and the Credit Union difference? Why not visit http://focusedonme.ca/home-financing.asp


  • Head Office

    Head Office

    41 Gerrish Street
    P.O. Box 340
    Windsor, NS
    B0N 2T0
    Tel: (902) 798-1820
    Fax: (902) 798-1255

  • Brooklyn

    Brooklyn Branch

    7763 HWY 14
    P.O. Box 40
    Newport, Hants Co., NS
    B0N 2A0
    Tel: (902) 757-2525
    Fax: (902) 757-1766

  • Kennetcook

    Kennetcook Branch

    6206 Hwy. #354
    Comp. 8, Box 8
    Kennetcook, NS
    B0N 1P0
    Tel: (902) 362-2594
    Fax: (902) 362-2150

  • Windsor

    Windsor Branch

    150 Wentworth Road
    P.O. Box 340
    Windsor, NS
    B0N 2T0
    Tel: (902) 798-5726
    Fax: (902) 798-4425

Contact Victory Credit Union