Changing Lives With TFSB Financing

Provided by The Federal Savings Bank (TFSB)

Recently, one of our HECM bankers here at TFSB, Bob Tranchell, went above and beyond the call of duty for a family that recently had a tragedy. Their son was paralyzed from the waist down, and insurance wouldn’t cover the costs of installing a wheelchair seat on their staircase, so he could go up and down the stairs and maneuver throughout the house. Our stellar team at TFSB was able to fund an unsecured loan within a week to cover the installation. Now, Bob is a preferred lender for financing through Patriot Mobility, the vendor supplying the stairlift installation.

When asked, Bob accredited several factors that contributed to the success of this venture. This includes our developed relationship with Patriot Mobility, as well as having the ability to provide the clients with multiple resources, ultimately giving the freedom to choose the best option for their lifestyle. Bob felt that it was important to meet the borrowers needs both initially and long term.

He states, “We are offering their clients multiple options for financing. The idea is to use the personal loan to meet the immediate need, but then also look to future needs where more substantial funding might be needed. That is where we might offer the HECM or a traditional mortgage financing. The best part about our personal loans is how quickly we can fund them, 5-7 days. That was a dramatic turn time in comparison to other lenders out there where the funding might take months. When there is a need such as the loan noted timing is everything. When we offer the HECM it is a revolutionary option. Imagine being able to fund a spouse’s need for a chair lift without a monthly payment, or in some cases we can offer an additional monthly check to help offset in-home care. Our clients are very grateful to have multiple options with varying payment plans.”

We are truly proud of the ownership Bob took, and we are proud to have him on our team here at The Federal Savings Bank!

To learn how you can do more for your clients and business, call us toll free at 855-650-0868.