By: Brian Wolfburg, President/CEO, VyStar Credit Union
Earlier this year, VyStar Credit Union introduced a new product that I am particularly proud of: our Adoption Line of Credit (LOC). This unique financial tool may be a helpful resource to eligible individuals or families who wish to adopt a child but may not have the funds needed to cover adoption expenses. Being that I am an adoptive parent myself, helping to bring families together through the important process of adoption—and bring some relief to that often complex and costly process—is an initiative that hits very close to home for me.
When my spouse and I got married more than eight years ago, we decided we wanted to start a family by adopting a child. After working with three different adoption agencies, filing legal paperwork, completing the required home studies, traveling from state to state for meetings with birth parents, attending parenting courses and preparing our home for our new arrival—all while keeping up with a steady stream of agency, legal and adoption fees—we finally became the parents of our beloved son, Asher, after a total of three years. And if there is one new thing we learned during those three years, it’s that adopting a child is a long, convoluted and expensive process that ultimately ends with the greatest reward: the gift of family.
Unfortunately, however, not every adoptive parent has the financial means to fund their adoption of a child. Throughout the adoption process, we often found ourselves in waiting rooms and meetings with other couples who had to put on hold their dreams of adopting a child and growing their family because they simply couldn’t afford it. I realized that there are a lot of sweet, innocent children out there who just want a home and someone to love them—and there are a lot of good people out there who so passionately want to be their parents. And, for me, making sure finances don’t stand in the way of bringing these potential families together is incredibly important.
If you find yourself struggling with adoption fees, you might think your only option is to turn to credit cards, home equity loans or other products from outside lenders that aren’t built to match the way expenses are incurred throughout the adoption process. However, we at VyStar have a better way for you to achieve your family goals: our Adoption LOC. We built this product specifically for adoptions, to help streamline the often-overwhelming financial aspect of the already complex process of adopting a child.
The Adoption LOC gives qualified members the flexibility to pay expenses as they are incurred throughout the process, and the peace of mind of knowing that you have the amount of money you need available when you need it. No need to pay advance fees on credit cards, no need to pay extra interest on taking out money and having it wait there for when you need it, and no need to take out a loan ahead of time and pay the whole amount at once when you only need a portion of it. If you qualify, you have no expense until the first day you need to draw a check, and you can rest easy knowing that we offer the lowest possible interest rate for this type of product.
Having access to a good product that is well fitted to the adoption process—a product with a fair rate and fair payments—helps remove the financial roadblock to bringing families together. I invite you to learn more about VyStar’s Adoption Line of Credit by exploring our website, calling or stopping by any VyStar branch.
Financials should not stand in the way of your decision to have a family. We look forward to supporting you in your adoption journey, and I hope that it brings as much joy to you as it did to my family.
Brian E. Wolfburg,
VyStar Credit Union