OnPath Credit Union

Yes – you may be able to negotiate a lower auto loan interest rate with some lenders. Lenders base approved rates on traditional loan approval criteria like a borrower’s credit score and the size of their down payment. However, there isn’t a uniform rubric for rate decisions, and there are a handful of techniques car purchasers can employ to secure a lower rate.

Deanna Taylor is the owner of Sophisticated Linen, one of the first black-owned linen companies in New Orleans which specializes in event décor including table linens, chair covers, and just about all the essentials needed to create an elegant party experience. She has been a member of OnPath Federal Credit Union for over 6 years. Last December, she was on the search for a new addition to her business, a company vehicle. With the help of our commercial loan officer, Princess Vincent, she scored a good deal on an SUV. “The finance process was very smooth and fast. Princess knew exactly what I had to ask for. Most people either approve or deny you, but she really took the time to investigate and help me watch every dollar,” says Deanna. Deanna now has a vehicle large enough to fit her staff and equipment when traveling to off-site events.

We sat down with the business owner to talk about the impact COVID-19 has had on her business, advice for future entrepreneurs, and how OnPath FCU has helped her along the way.

Matt and Amber have been the owners of Fat Happy Media, a full-service production company located in New Orleans for over a year now. The business owners were first introduced to the credit union in 2019, as they were hired to work on a video for the 2018 annual meeting. During this time, they interviewed two members and were impressed to hear how highly they spoke of the credit union, leading them to become members. In September of 2019, they joined the credit union and obtained a line of credit for their business. In March 2020 they put their line of credit to use and constructed the perfect space for their team, just to be told days later, that all unessential businesses had to shut down due to COVID-19. We sat down with the business owners to discuss the challenges they've faced during Covid-19, how they are adjusting to the new norm, and advice for entrepreneurs who are looking to start their own business. 

Meet Patrick. Patrick has been a member of OnPath FCU for over 26 years. He recently came across an issue that involved his account and a money transfer company. Learn how the OnPath FCU team was able to successfully help him resolve this issue.

In 2005, business owners Malcolm and Hebert joined OnPath FCU with hopes of obtaining funds to purchase an asset for their already established business, Professional Funeral Services. Instead of instantly receiving funding, they received financial advice that would set their business up for a successful future. From working capital, lines of credit, renovations, to a second location in Port Allen, the two entrepreneurs have been able to expand their business beyond what they imagined over the last 15 years. We sat down to talk with the owners about what they’ve done to overcome business challenges, advice for future entrepreneurs and how OnPath FCU has helped them along the way.

Sara and her fiance Joey (not pictured) moved to New Orleans about 4 years ago so that she could pursue graduate school in architecture. The couple loved the city so much they tied the knot here and soon after decided it was time for them to own a piece of it. With hopes of owning their first home together, the newlyweds attended a First Time Home buyer's Workshop and purchased their first home. A double converted into a single-family home in an Uptown neighborhood. We sat down with Sara to discuss the couple’s home-buying experience and how ASII First Time Home buying workshop has helped them along the way.

Meet 25-year-old Freddie. He’s always had an interest in real estate and investing and with the assistance provided by ASII First Time Home buyers workshop counselors, he successfully purchased his first investment property. Learn more about his workshop experience, home buying process and more.

Nick Conner, contractor and owner of a custom wood work company, Conner Millworks, has been a proud OnPath FCU member since 2018. He was referred to the credit union to obtain a loan to help build and restore properties in the Hoffman Triangle, his business location for more than 6 years. In less than a year, with the assistance of OnPath FCU's Commercial Lending team, Nick completed two rental projects. He transformed a single family abandoned home into a two-bedroom two-bath duplex as well as completed construction on a duplex with a modern architectural design guaranteed to catch the eyes of passersby.

When Richard Molina married his wife Lilian and had her move to the United States from their native Honduras, he had no idea she was an accomplished Pastry chef. "My wife, when I married her, I didn't know she knew how to do all these things. I'm an engineer but when I asked her what she wanted to do, she said she wanted to open her own business," states Molina, Manager, and Owner of Fleur De Lily Rivertown Café. They opened their business in 2013 and spent 3 years in a rented commercial space in Williams Boulevard. However, in 2016, their landlord raised the rent. "Our landlady wanted to raise the lease by $850.00. It was too much, we were not in business to be working for her so we decided to close the shop and look for alternatives," Richard explains.

One of our newest members, Juan, visited the Harahan branch to apply for a home improvement loan with our Member Service Representative, Esmeralda Landaverde- Mata. At the time Mr. Juan was paying $1095 a month for his truck which he purchased through a local dealer. After listening to him, learning more about his financial needs and with a click of a few buttons, Esmeralda was able to refinance his truck at a much lower rate, saving him $450 each month.

Instructor, Director, Dancer, wife and mom, Lori Weil is the owner of Creative Dance & Music Studio in Harvey, LA and longtime member of OnPath Federal Credit Union. Founded by her mom in 1985, Lori took over the business in 2004. She has spent the last 14 years living her dream and teaching children the art of dance, tumbling, and music. After taking over the business she added an additional location, but soon downsized to one larger location to accommodate the needs of her students and growth in class size. Due to extensive growth and changes in the area, Lori was faced with the decision to remain in her current space or move her business to another location. With the help of OnPath FCU's Business Lending team, Lori is now building her first stand-alone studio.