A Journey of Partnership and Peace of Mind

For Barry Nichols, a lifelong resident of Birmingham, Alabama, his greatest joy was his marriage to his high school sweetheart, Brenda. When Brenda sadly passed away, Barry needed to rebuild his life and his credit. Learn how the partnership with Cadence Bank helped provide the path to financial healing, raising Barry’s credit score and unlocking the opportunity for home renovations.

Barry Nichols, a lifelong resident of Birmingham, Alabama, grew up, attended school, and ran his own business in the city. Now semi-retired, his life found immense joy in his marriage to Brenda, whom he first fell in love with in the eighth grade. Though his feelings for her never changed, they didn't officially get together until their 35th high school reunion, later marrying in 2014. Barry states, "Life was grand with her. She made my life very happy.”

The Turning Point and the Promise

Barry had been a customer of Cadence Bank for seven years. When Brenda sadly passed away, Jennifer Brogdon, the branch manager at Gardendale, reached out. Jennifer had known Brenda for 14 years and had helped her with her banking needs. Upon hearing of Brenda’s passing, Jennifer let Barry know that she was there for any help he needed.

Before she died, Brenda had wanted Barry to rebuild his credit. He admitted that his credit score "was zero" and that he "had really given up on even trying.”

The Power of the Credit Builder Loan

Jennifer introduced Barry to the Credit Builder Loan. A Credit Builder Loan helps a customer build credit while also helping them save money. The process works like this:

• The customer borrows a set amount, such as $1,000.

• Cadence Bank puts that money into a separate, locked account.

• The customer repays the loan amount over a period of time, typically a two-year time frame.

• The payments are used to back the loan.

• Once the loan is fully repaid, the customer receives the initial borrowed amount plus the interest it earned.

Life-Changing Results

Once Barry finished the Credit Builder Loan, his credit score "went over 700". He credits Brenda, who "would be very proud" of starting the process.

This improved credit score made it possible for Barry to get the loans he needed to make major, quality-of-life improvements:

• He was able to replace his deck, where he entertains.

• He completely replaced his old heat and air conditioning unit, which was about 20 years old and on its last leg, with a new, much better system.

Barry now understands the importance of having good credit.

"Having credit is really important because you never know when that need is going to happen. Having a good score helps not only to get a loan but also to get a better rate on that loan."

Jennifer Brogdon, Branch Manager at Cadence Bank's Gardendale location

A Legacy of Trust and Care

For Barry, the relationship with Jennifer and Cadence Bank is a source of immense comfort. He said he feels that Jennifer "knows what I'm going through" and "is always there when I have a question on what I should do.”

Brenda realized the importance of planning ahead. Barry credits her with preparing him for the future. Barry was grateful, feeling she "left me in good hands with good people.”

Is improving your credit score a priority?

A Credit Builder Loan can be a powerful tool for establishing or rebuilding credit and saving money for your future. Contact Cadence Bank today to discuss how a Credit Builder Loan can help you unlock new opportunities.

This article is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the article. The article is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.