How one member built her credit to buy new car

CEDAR FALLS, Iowa—Porcha Fields knew her car was on borrowed time. She also knew she needed to build her credit before she could purchase a new one.

Dupaco’s Majda Karajic was sure the credit union could help her Cedar Falls friend with both concerns, so she kept encouraging Fields to give Dupaco a try.

Fields had her doubts.

“I had accounts at other places, so I didn’t really think I needed to open another account,” she said.

Eventually, Fields agreed to learn more about Dupaco—and how the financial cooperative could help her reach her goals.

A car of her own

The friends met at Dupaco’s Mullan Avenue branch in Waterloo.

Karajic reviewed Fields’ finances and set her up with her first credit card to begin building her credit score.

“I didn’t think I needed a credit card, but it helped improve my credit score,” Fields said. “And I had to use it for an emergency situation, so I’m glad I do have it for those instances.”

Within months of getting her Dupaco Visa credit card, Fields’ credit score began to climb. A higher score meant that she could get pre-approved for an auto loan and replace her failing vehicle.

That’s exactly what she did.

“It’s nice to have something reliable that I can call my own,” Fields said. “I was able to get this car totally on my own, which was refreshing because the last car I had was in my mom’s name. This time, I didn’t have to rely on someone else. It was a new accomplishment.”

‘I made a good decision’

Fields used Dupaco Insurance Services to insure her new ride, and Dupaco is helping her continue saving for her future.

Karajic helped Fields open a Launchpad savings account. The account uses compound interest to help members establish and grow retirement savings at their own pace. Fields has automatic deposits directed to her Launchpad account so the money will be there when she needs it.

During her first year as a Dupaco member, she even qualified for Thank Use cash—the credit union’s way of thanking members for participating in their financial cooperative.

“I made a good decision to end up going to Dupaco. They’ve been able to help me with all of my needs,” Fields said. “Honestly, Dupaco is the only financial that has helped me.”