Five years ago, Eric Wisehart of Paoli had a financial problem. He didn’t have a problem with debt. He didn’t have a problem with his credit score. In fact, Eric had no credit score.
An entrepreneur for most of his life, Eric used cash for the majority of his needs and felt good about not having incurred debt. This changed when he tried to finance a vehicle. The lack of a credit score presented a significant and unexpected barrier.
“I was surprised,” he said. “I just didn’t know how credit worked.”
Eric reached out to his credit union for help, speaking with Tawnya Daugherty of Hoosier Hills Credit Union in Paoli.
“I just asked, ‘How do I fix this?” Eric recalls.
Tawnya helped Eric get started with a credit card to help establish a credit history, which was important for the current loan, as well as for his future financial plans.
Eric credits the guidance he received from Hoosier Hills staff as being critical to his ability to turn the corner on his financial problem. “I would talk to them about where I was and where I needed to go,” Eric said. “Once I knew how credit worked, it was a game changer.”
Having previously used a bank, Eric was immediately struck by what he noticed at Hoosier Hills Credit Union. “There is a difference. They know me and they don’t go just by the numbers. They don’t act like it’s their money, because it’s ours.”
Soon, Eric had established and built his credit. From there, he continued to work, even establishing his own business. “Everything I’ve done to build my credit wouldn’t have happened without the help I got from Hoosier Hills,” Eric said. “If you actively search and want to better your life, this is the place to do it.”
Not only has Eric found success with the help of his financial partner, but just five years after beginning the process of establishing credit himself, he was able to help a family member in a similar situation.
“Personally, it was a big step to be in a position to do that,” he recalled.
As Eric continues to build his personal financial success, he further strengthens the credit union cooperative of which he is a part. “I have a business and goals that I’ve set. And I can finish them here.”
“Watch me,” he continued. “I’m not done.”