Skip Navigation Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view,download Adobe® Acrobat Reader.

Jennifer

Learning the ABC's of crucial financial service.

Ensuring you have financial security is really a matter of the most fundamental education. ALEC has demonstrated time and again that it is the master of the three R’s of service: range, reliability and resourcefulness.

Jennifer, a three-decade employee of Abbott, has been an ALEC devotee since 2010, so she knows very well about its range of services, with an auto loan, a credit card, a personal loan and checking and savings accounts.

She also is intimately familiar with ALEC's reliability because she has seen over the years that, unlike at a bank, where she is viewed as a customer, at ALEC she is treated as the credit-union partner she is.

As for resourcefulness, Jennifer got a firsthand demonstration not long ago when she needed some home improvements. She figured the answer was a home equity line of credit, or HELOC. But ALEC doesn't offer HELOCs in California, where Jennifer works, so what was she to do? Go to an impersonal and profit-focused bank?

In Your Words - Jennifer, Pull QuoteShe tried, even consulting a friend in the mortgage industry. But the bank quoted her one HELOC rate and later another, so she turned to ALEC's mortgage loan originator, Emily Smith, for an alternative solution: a mortgage refinance.

“Emily was amazing,” Jennifer said. “She was knowledgeable and answered all my questions. The bank wanted so much documentation, and the process was so long and drawn out. But with Emily, within three weeks it was all done.”

And here's where the resourcefulness came in: By choosing ALEC’s refinance option, Jennifer’s monthly payment came it at $3,600, compared with the bank's HELOC figure of $4,300.

“I was shocked that I was able to save over $600 every month for borrowing the same exact amount,” Jennifer beamed. “It all seemed so crazy, it was almost too easy!”

Next on the agenda is establishing a retirement plan for Jennifer and her husband to protect the next stage of their lives. For that, they will be speaking with one of the professionals at ALEC Investment Advisors — and very soon.

“Being with ALEC has been the best experience ever,” Jennifer said. It has been an education, all right.


Back to In Your Words