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Money Matters

Your Credit Union Newsletter

Money Matters by Farmers Insurance Federal Credit Union
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Credit Union News
Best 5-Year CD Rates In California!

The economy is fickle. There are peaks and declines. The stock market climbs one quarter and crashes the next. And when it comes to interest rates, over the past five years, we bet you thought they couldn’t get any lower and wondered if they’d ever go down.

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Money Matters Laura Campbell Money Matters
Message From Our CEO

The last quarter was filled with new developments at your Credit Union. The most exciting was the introduction of Tulee, our digital banking platform. Thank you to all our Members who downloaded and are using the Tulee app. We hope it will make banking with us even easier. And be on the lookout for new Tools and improvements by the end of the year and into the future. We appreciate the enhancement suggestions – keep them coming!

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Farmers Agents
6 Reasons Now Is The Time To Buy Office Space

This year has been challenging for every sized business. But, despite the economic uncertainty, and rising interest rates, there are some silver linings. One is an abundance of office space and motivated sellers looking to cut their losses, meaning more bargaining power for you if you’re looking to purchase an office.

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Money Matters Laura Campbell Money Matters
Message From Our CEO

Excited as we are with Tulee, it’s just part of our long-term plan for members, and I’m glad to report that we’re well on track. Recently we had a banking econometrics expert review and analyze our performance over the last four years to help identify how we could improve compared to the rest of the credit union industry. A byproduct of this was a set of metrics that compared us to industry performance averages.

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Farmers Agents
How To Prepare For A Recession Part 1:  Finance

The Federal Reserve has committed to a policy of fiscal tightening by raising interest rates. According to Fed Chairman Powell “we still have some ways to go…we will stay the course [keep raising rates] until the job is done.” This leaves the economy on a knife edge. Raise rates too much, too fast and we fall into recession.  Too little and prices continue to rise and eat up savings.  

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Credit Union News Laura Campbell Money Matters
Message From Our CEO

Like the seasons, our economy goes through cycles, but unfortunately these aren’t as predictable as “spring follows winter.” During an adverse cycle, like the high inflation we’re experiencing, we can’t eliminate the pain but can take measures to mitigate its impact. Cutting back on discretionary purchases, like a few less Starbucks, or keeping the old phone six months longer is a great start. 

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Credit Union News Laura Campbell Money Matters
Message From Our CEO

These days, as you might imagine, the Credit Union spends a lot of time trying to help our member-family address the immediate effects of inflation. Today I’d like to focus on this, and also touch on how we keep our eye on the longer-term: how we help members plan for a financially independent “happily ever after.” Also, a bit of news on a big initiative we’re working on for you.

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