CEO Message

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     My formative years were in the mid-1970’s – the decade that introduced us to disco, mood rings, Wacky Package stickers (look them up), cassette tapes – and high, double-digit inflation. While I have fond memories from those early-teen years of listening to my sisters’ 78 LPs or playing Pong (look this up too), I must admit the economic impact of high inflation was not on my mind at the time. As we experience rapidly rising inflation in 2022, I have a better understanding of how inflation affects everyone in some way – and how we as a member-owned credit union can respond to help those that are most affected. With inflation pinching family budgets, we visit every day with members that need advice on how to make their money go further to combat escalating gas, food, and housing expenses. Our Personal Bankers and Lenders strive for solutions that are tailored for each unique situation. Whether it is consolidating debts to improve monthly cash flow, counseling a homebuyer on payment affordability, or even for the saver that wants to take advantage of higher CD rates, we want to make sure each member that seeks our help has options that will put them on a path where they can better absorb the sting of inflation. I am not an economist, and I can’t predict when we will return to ‘normal’ levels of inflation, but I can assure you that we are here to help each and every member however we can to navigate these uncertain times. That is a promise that has endured for decades and it is a promise that we are committed to every day. As Jimmy “JJ” Walker used to say on the ‘70’s sitcom ‘Good Times’: that promise is dy-no-mite!

     As always, stop in and say hi, introduce yourself or even comment on what you want First Federal to do for you!

Tom Chalstrom

President & CEO