Know Your Lending Options
A member needs funds for a one-time unexpected expense and wants predictable payments. What are two basic features of Navigant's Personal Loan?
Navigant's published rate table currently shows standard Personal Loans up to $50,000, with larger amounts directed to the credit union for discussion.
I think I'm going to need another car.
What's ONE natural question you'd ask?
Have you started looking yet?
Are you replacing your current car?
Do you know what you're looking for?
At a general level, what does Navigant say a member needs to obtain a consumer loan?
Which Navigant lending product is specifically designed for home repairs or improvements and does not require an appraisal or collateral?
Home Improvement Loan.
It is unsecured loan, with no appraisal required and terms up to 15 years.
I'm so tired of making payments on four different credit cards.
What's ONE question you'd ask?
Is it mainly having several payments that's frustrating you, or are you also trying to change what you're paying overall?
Do you have a sense of roughly what the balances total?
What repayment frequencies does Navigant offer on consumer loans?
Weekly, biweekly and monthly.
We do offer biweekly repayment options, so that's something we can look at as we discuss the loan.
What's the fundamental difference between a Home Equity Loan and a HELOC?
Home Equity Loan: typically fixed rate and fixed borrowing/repayment structure.
HELOC: variable-rate revolving line; the member can borrow as needed and regain available credit as amounts are repaid. It can be recurring tuition, ongoing home improvements and frequent medical expenses as examples of possible HELOC uses.
We need a new roof. It's going to cost around $22,000.
What's ONE meaningful question you'd ask first?
Is the roof the only project you're planning, or are there other things around the house you expect to work on?
Would you prefer to keep the borrowing separate from your home, or are you comfortable considering the equity in the house?
I'd like to apply today. I brought my driver's license. Is that everything?
Don't immediately give a generic document list.
That's a great start. Tell me what you're looking to finance.
Navigant partners with which two organizations to provide student/education financing, and who actually makes those student loans?
RISLA and Sallie Mae.
The loans are made by RISLA or Sallie Mae—not Navigant. Navigant does not make the credit decision and isn't involved in underwriting, approval or servicing.
My daughter is starting college. We're about $20,000 short after her scholarships and financial aid. I was thinking maybe I should use my home equity. What do you think?
What should you recognize before discussing a HELOC, and what's your first question?
Recognize that Navigant has education-specific financing resources through RISLA and Sallie Mae.
Home equity may ultimately remain something the member wants to explore, but we shouldn't assume it is the starting point merely because the parent owns a home.
Absolutely. Before we look at using your home, can you tell me a little about the $20,000 gap and what you and your daughter have already explored?
Okay. Is your preference for your daughter to be the borrower, or are you thinking that you would take responsibility for the borrowing?
You've had a good conversation with a member who needs approximately $15,000 for a one-time personal expense.
The member understands the product being discussed and says:
I'd like to apply. I have time right now.
Ask yourself:
1. Is one of the authorized people available?
2. Is the member reasonably prepared with the information needed?
If yes + yes → warm transfer now.
If the appropriate banker isn't available or the member isn't prepared → schedule a specific appointment and explain what the member should bring.
We're doing about $30,000 of work on the house. We have an estimate, but my spouse keeps adding things. I really don't want the payment getting away from us.
What products could reasonably enter the conversation?
Potentially:
But we don't have enough information to choose.
I've got about $15,000 on credit cards. Our furnace needs to be replaced before winter. I have savings, but after everything that's happened this year, I'm afraid to drain it.
Where do you start?
You've got a few different things happening at once. Which one feels most important for us to address first?
Absolutely. Do you already know roughly what the furnace will cost?
Once we figure out the furnace, would you also like us to look at whether there's a better way to handle those card balances?
Absolutely. We don't have to assume everything belongs in one loan. We can look at the needs separately and see what makes sense.
You've learned:
That sounds like what I need. Can we start it today? What happens next?
First connect the product to what the member actually said:
“Based on what you've described, I understand why the flexibility of the line caught your attention.”
Then determine:
Ready + equity banker/BM available → warm transfer now.
Not available or member isn't ready → schedule an appointment and prepare the member.
Don't promise approval or imply that the application decision has already been made.