We’re here to help you borrow with your financial health in mind
Your ability to borrow is one of the four factors in determining your financial health and supports you in creating and maintaining financial slack. We’re here to provide you with tools and resources to ensure you’re healthy when it comes to borrowing.
Borrowing to improve financial health
There are two things we focus on when thinking about borrowing: building credit and managing debt.
Build credit
Your credit score plays a major role in your ability to borrow, so start by checking where you stand today using free resources like our credit report tool in digital banking. Then, focus on key factors like payment history, credit utilization, credit mix, length of credit and new credit to improve your score over time.
Manage debt
Managing your debt is key to borrowing for financial health. To tackle debt, start by building a spending plan to take inventory of your debt payments and other expenses and compare it to your income. Use any financial slack (money left over after expenses) to pay down debt, starting with the smallest balance. If you have unmanageable debt, consider debt relief or consolidation through a personal loan, home equity loan or balance transfer to lower your payments.
Create a plan for managing debt and building credit
Building credit
If you need additional resources for building credit, we have you covered. Browse our resources below or visit our resource center for additional content.
Managing debt
If you need additional resources for managing debt, we have you covered. Browse our resources below or visit our resource center for additional content.
Ready to build financial slack?
Explore ways to build your financial slack in the areas of spend, save, plan and borrow.
Spend
Paying bills on time and spending less than you earn are the foundation for creating financial slack.
Save
Having a sufficient liquid savings and a long-term savings helps you weather unexpected events and reach your goals.
Plan
Planning ahead and getting insured are key factors in creating and maintaining financial slack.