July 2017 President’s Message

President's Message from Donald Rausch, VCCU CEO

Decisions. . .Decisions!

Now that the Federal Reserve has raised interest rates for the third time in 6 months, many are starting to wonder what these actions may mean for their financial future. Let’s examine a few options from an economic and lending perspective.

According to the Federal Reserve’s Statement released after the announcement, “economic activity [and] job gains have moderated but have been solid, on average since the beginning of the year, and the unemployment rate has declined.” Furthermore, “The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for sometime, below levels that are expected to prevail in the longer run.”
In other words, interest rates are expected to continue to slowly increase over time, but the pace will continue to be driven by economic data. So now that you know the drivers, what decisions are best for you?

If economic activity and loan rates are going to increase, then the more affordable (cheaper) choice is to borrow for what you need to purchase today. Buying that home, refinancing your mortgage, using home equity to fund that special purpose, buying the auto you need VCCU is ready to help you with all your borrowing needs.

We recognize that decisions can be difficult during economic expansions, but having someone to “talk it through” with is half the battle. Give us a call or drop by and speak to us about your options. We’ll do our best to work with you and your specific situation, because we work for you and your financial well-being.


Donald Rausch

photo of VCCU office

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