For many borrowers, the idea of changing an existing loan can feel like a big decision. But sometimes, taking a closer look at your loan can uncover an opportunity to save money and reach your financial goals sooner. That’s exactly what happened when a local member connected with Penelope Rasmussen, Branch Manager in Kenmare.

After seeing one of Penelope’s “I Saved a Member” posts, the member reached out to see if there might be an opportunity to save on a loan they had taken out for a camper last summer. Together, they took a closer look at the existing loan and explored whether refinancing could provide a better option.

After reviewing the loan, Penelope was able to help the member save 1% on the interest rate on a $124,563 loan while also shortening the loan term by three years. By making these changes, the member is expected to save a total of $52,936 over the life of the loan.

This experience is a great example of why it can be worthwhile to revisit an existing loan, even when everything seems to be working just fine. A simple conversation with a trusted financial professional may uncover opportunities to lower your interest rate, shorten your repayment timeline, and potentially save thousands of dollars.

At Town & Country Credit Union, our team takes the time to understand each member’s individual financial situation and look beyond the numbers to find solutions that fit their goals. Whether you’re financing a recreational purchase, looking to refinance an existing loan, lower your monthly costs, or simply want to know if there may be a better option available, it’s worth having a conversation.

Could you be missing an opportunity to save? Contact Penelope Rasmussen, Branch Manager at our Kenmare location, today. She’d be happy to review your loan and help you explore your options. A simple conversation could make a significant difference in your financial future.

Individual results may vary. Savings and loan terms depend on creditworthiness and other factors.