"Sorry we can't help you" was not the answer 19 year old, Drew Bach was looking for when he was turned down for a car loan at his bank for not meeting the credit requirements. From Dell Rapids, Bach had secured a job with Daktronics in Brookings and needed to purchase a car. He started researching car loans online and came across an endless supply of information talking about the benefits of doing business at a credit union. It was then Drew realized he had been driving by a credit union every day, but had never really paid any attention to it until now.
The next opportunity he had, Bach stopped into the 6th Street Brookings Branch and walked out a new credit union member with a car loan. Not long after, Drew returned to Dakotaland for a recreational vehicle loan on his new motorcycle. Life was moving along as it sometimes does and Mr. Bach found himself celebrating his 23rd birthday. At a milestone, he had begun to wonder if paying rent was really the best use of his funds and was contemplating the purchase of his first home, when he got a welcomed SURPRISE! There’s a baby on the way. Drew was going to be a dad.
At this point Drew had been a credit union member for four years, so back he went to Dakotaland and met Real Estate Loan Officer, Emmy Lebert for the first time on December 5th. “I told her what I owned, what I didn’t and how much money I had in my account. And then I waited for the turndown and a speech about how I was too young and not in a position to buy a house”, relayed Bach. But that is not what happened. Lebert immediately explained to Drew what his options were, the price range of houses he could afford and how the process worked. “I was shocked! There was absolutely no judgement and I left the credit union with hopes I could really make this home ownership thing happen”, confessed Bach.
Lucky for Drew, he was able to find a home to accommodate his soon–to–be new family in his hometown of Dell Rapids. It was more than twice the size of the house he was renting and his loan payment came in $100 less a month than his monthly rent check. The next two months flew by and due to Drew working a night shift, the majority of the house buying business took place over the phone and via email to accommodate his schedule. The loan was closed on February 2nd.
Drew explained, “The whole process was so much faster and easier than I expected, plus now I know there are opportunities out there to make it happen, but the trick is finding someone willing to help you”. Ms. Lebert believes Drew to be an inspiration to those who wish they could buy their own home, but don’t think it’s an option for them. Bach started small and took the necessary steps to position himself to achieve a bigger dream. He formed a relationship with the credit union and built some healthy credit after buying his car and motorcycle which led to his success as a young and very happy, first–time home owner.
