Mr. Clipper was referred to Peninsula Credit Union by a local mortgage company in search of a home equity loan. He met with Ylma at our Poulsbo branch, where they began reviewing his financial picture. Ylma explained that PCU offers home equity loan options up to 100% of a home’s value for qualifying members, which gave Mr. Clipper hope.
But there was a complication. Mr. Clipper had recently gone through a personal family issue and was carrying more debt than expected. His initial application was declined due to a high debt-to-income ratio. Instead of turning him away, Ylma looked deeper for a path forward. She discovered that the property had recently been refinanced and was jointly owned with his brother.
Ylma asked if his brother might be willing to co-sign. After a conversation, Mr. Clipper returned with good news—his brother had agreed! Ylma resubmitted the application, and this time, it was approved. The impact was significant: Mr. Clipper consolidated his debts, reducing his monthly payments from by nearly $1,000!
Thanks to Ylma’s persistence, care, and problem-solving mindset, Mr. Clipper gained not only financial relief but a renewed sense of stability. It’s the kind of second chance that makes all the difference.
