A recent headline in the Wall Street Journal went: “Mass Layoffs or Hiring Boom?” This curious title perfectly sums up the difficulty we are all facing: deciding where our economy is heading.
Despite significant layoffs in some sectors this year, overall employment is strong and wages have grown. Interest rate increases, however, threaten to push our economy into a mild recession, according to many economists.
Where does this leave us? Understandably we’re wondering how best to manage our finances in the face of uncertainty. Fortunately, your Credit Union has seen most every financial scenario in our almost 90 years. Please take advantage of our expertise. Bounce ideas off us. Sit down for one of our free Financial Wellness Checkups. In fact, bring up whatever’s on your mind no matter how small. We’ll give you unbiased, practical and straightforward advice and tips, and we always have your best interests at heart. In fact, right now, take a look at our blog articles on planning for the risk of recession, covering both general and agent-specific situations. Even if we, hopefully, avoid a recession, these tips can improve your financial health and resilience.
One area of the economy I can unconditionally predict is shaping up for a strong year is right here at your Credit Union. You’ll hear about our sound finances at our annual meeting shortly, and you can register for this here: Annual Meeting. A little hint. It’s well worth attending. In addition to learning about our financial health and outlook, we’ll be giving away cash prizes to randomly-selected members, but only if you attend.
I’ll end on another high note. One of the benefits of being financially strong is having the wherewithal to invest in our future and that of our members. As you’ve probably heard by now we’ve developed a new, cutting edge way of banking, an app-based platform we call Tulee, and we can hardly wait to share it. That’s why we’re been rolling out select pre-launch Tulee features for members to try now. Keep an eye out for emails with an invitation to enroll and check out the early-access features, or as we call them, “Tools.” Signing up now also ensures that you don’t scramble when we discontinue our current Online and Mobile platform and switch to Tulee.
President & CEO