Real People. Real Success.

Click an icon below to see how we were able to help members trade in their current loan for a better loan:

mortgage         auto


Mike and Diana saved 1.5% on their mortgage interest rate

They were thrilled to lower their house payment by $524.45 per month. By trading in their old loan for one with today's low rates, they saved more than 1.5% on their interest rate and extended their loan to lower the payments even further.

The Financial Picture:

The couple had a 30-year fixed-rate loan with a large national bank paying 6.00%. They had been paying for about 5 ½ years.

Original Loan Amount $ 385,000
Original Payment (Principal & Interest) $ 2,338
House Insurance $ 67
Property Taxes $ 350
Home Owners Association $ 85
Total $ 2,840

The Goal:

Lower monthly payments.

The Shrink My Debt Solution:

They refinanced their mortgage with Orange County's Credit Union, choosing a new 30-year fixed-rate loan at 4.50%/4.53% APR and a rebate of -375 points. They had excellent credit and an 84% loan to value.

New Payment (Principal & Interest) $ 1950.74
Mortgage Insurance $ 60.96
House Insurance $ 67
Property Taxes $ 350
Home Owners Association $ 85
Total $ 2315.55

If Mike and Diana would like to shrink their debt faster, they could pay a little extra each month.

Based on owner-occupied, single-family residence, no-cash out, and conventional loan. Rates used in this situation were effective 03/28/2017. APR is Annual Percentage Rate. Illustration is based on the use of each individual’s Interest Rate. Rates subject to change at any time. Rates based on individuals credit score at time of application. Other restrictions may apply. All loans subject to final approval.

Pam and Jay lowered their mortgage payment by $308.75

Pam and Jay only owed $140,000 on their home valued at $725,000, but were still able to leverage today's low rates to lower their monthly payment by $308.75.

The Financial Picture:

The couple's original mortgage loan was with a 30-year fixed rate paying 6.00%.

Original Loan Amount $ 150,000
Original Payment (Principal & Interest) $ 899
House Insurance $ 40
Property Taxes $ 350
Home Owners Association $ 299
Total $ 1,588

The Goal:

Lower monthly payments.

The Shrink My Debt Solution:

Pam and Jay refinanced using a 7/1 Adjustable Rate Mortgage (ARM). The loan was $140,000 at 3.625/3.594% APR with a rebate of -0.125 points. Using this option, the couple was able to lower their monthly payment by $308.75.

New Payment (Principal & Interest) $ 673.57
House Insurance $ 40
Property Taxes $ 350
Home Owners Association $ 299
Total $ 1,279.25


Based on owner-occupied, single-family residence, no-cash out, and conventional loan. Rates used in this situation were effective 03/28/2017. APR is Annual Percentage Rate. Illustration is based on the use of each individual’s Interest Rate. Rates subject to change at any time. Rates based on individuals credit score at time of application. Other restrictions may apply. All loans subject to final approval.

[back to top]


Mark lowered his monthly auto loan payment by $178

The cost of raising a new baby had Mark looking for ways to lower his monthly expenses. We helped him refinance his car loan, lowering his car payments by $178 a month. Now, dad and baby both sleep through the night.

The Financial Picture:

Mark drives a 2003 Toyota Matrix. He financed his original loan through a large auto finance company and was paying an interest rate of 12.00% APR. His payments were $416 with 18 months remaining on the loan.

The Goal:

Mark just had a new baby and needed to significantly lower his monthly payment.

The Shrink My Debt Solution:

We refinanced his loan at 7.99% APR, saving over 4% APR. By extending the term of his loan to 36 months, we were able to lower his monthly payment to $238-a monthly reduction of $178.

Pamela was able to cut her auto loan rate by more than half

A not-so-attractive car loan from a big bank had Pamela feeling like she was throwing money away each month. She came to the Credit Union for help and within minutes, we were able to cut her rate by more than half. She fell in love with her car once again.

The Financial Picture:

Pamela drives a 2007 Toyota FJ Cruiser. She had a car loan at a large national bank, paying an interest rate of 16.29% APR. Her payments were $490 with 49 months remaining.

The Goal:

Pamela wanted to lower her loan rate and reduce her monthly payments.

The Shrink My Debt Solution:

Even though Pamela's car had high mileage, we were able to refinance her loan at 7.99% APR, cutting her rate by more than half. Her new payment is $465-a savings of $25 per month. We were also able to reduce the term of the loan from 49 months to 48 months. Not only does Pamela save money each month, but she'll also pay off the loan sooner.

Carrie used her extra money to save for retirement

High car payments had Carrie wishing she could spend less on her car and more on her retirement fund. A quick loan refinance with the Credit Union saw her wish come true overnight. She's now able to drive her dream car without forfeiting her future.

The Financial Picture:

Carrie drives a 2008 Toyota Avalon. She originally borrowed $27,176 at 9.08% APR from a bank, and had made 25 payments of $491. She still owed $19,475 and had 47 payments left.

The Goal:

Carrie wanted to lower her monthly payment and use the money to save for retirement.

The Shrink My Debt Solution:

When Carrie read that our low auto loan rates were also available for refinancing, she contacted us about her loan. We refinanced the remaining balance at 2.99% APR, shaving off 6.09% APR. With the lower rate and an extended term, her payment went down to $350 per month. Carrie now has an extra $149 per month to save for retirement.

[back to top]


Results not typical and may vary on approved credit. APR is Annual Percentage Rate. Certain restrictions apply. Rates and terms subject to change without notice. Normal approval standards apply.

Use your car's value. If you have high-rate credit cards, use the value in your car to get a new loan with cash out to pay off credit cards.
Loan Stories
Dave and Sara saved more than 3.00% on their interest rate
> Howd they do it?
                   Bank with Us
Anyone living in Orange County,
Riverside County & Long Beach, CA
> Find a branch
$103,133,843 Interest borrowers have saved
by refinancing since Jan 2012
facebook mail