President's Message
Rates and Inflation

Submitted by ltownsend on October 28, 2022

At a recent meeting I attended, a specialist pointed out that we have just experienced the worst bond market in 40 years. It is not due to credit issues, but strictly due to rising interest rates. A big part of this is due to the inflation we are experiencing, and the rate increases that the Federal Reserve has implemented to try and get it under control. 

As a credit union, we must balance deposit rates and loan rates during these times of rate volatility to be competitive and be able to meet our loan demand. Our goal is to consistently pay near the top of the market on our deposits and offer some of the lowest loan rates in our markets. Occasionally, someone may offer a better deal, but we consistently strive to be your best choice. We will continue to adjust during these times, and we appreciate your commitment and loyalty to Skyward Credit Union during these times of volatility.  

Kevin Wilmoth