NEW YORK-McGraw-Hill FCU was featured in a financial makeover segment on ABC's "Good Morning, America" last week.
GMA Correspondent Elisabeth Leamy, author of "Save Big" worked with the Shoblock family in New Jersey and helped them eke out savings of more than $100,000. A big part of the strategy was to work with a credit union on such things as refinancing the car loan and mortgage, as well as develop a plan to pay down credit card debt and then get a lower-rate card with the CU.
GMA went onsite to McGraw-Hill FCU, Hightstown, N.J., to film the family as it worked with the credit union on several of these savings tactics. As a result of working with the CU, the Shoblocks will save $1,995 on their car loan over the next four years, another $16,000 in savings with the new credit card from McGraw-Hill, and a
Robin Shoblock had written to Leamy for help with the couple's debts. The Shoblocks have seven children, and were struggling after Gary Shoblock lost his job and Robin had returned to school to earn a teaching degree. With Leamy's help, the family saved a total of $108,602.
"I'm speechless," Robin Shoblock said when she learned how much McGraw-Hill could help her. "It's just so hard to come up with ways to thank you guys for your help."
