The P.A.

A weekly address from Patrick Adams,
President of St. Louis Community Credit Union

Credit Union Offers Hope During These Difficult Times

On August 22nd, 2011, posted in: Uncategorized by

Uh-oh.  It would appear to me that a confluence of factors is responsible for what I see setting up to be an ugly 2012 for the great people of our community.  I hope I’m wrong.  I don’t read tea leaves, tarot cards, palms or minds.  But I do read enough other things to see the writing on the wall, and it doesn’t look good.  Sorry – don’t shoot the messenger!

Granted, the last thing you need is another headline or discussion centered on the negative, but “it is what it is.”  Maybe, just maybe, St. Louis Community Credit Union can serve as a beacon of hope during these difficult times.  But the fact remains, times are tough and we need solutions vs. unproductive political discourse.

Back to the confluence of factors that are setting up on the wrong side of wealth.  We have inflation (both core and headline) outpacing real wages.  That means that every time we buy the things we need, we have a little less money in our pocket.  Groceries and gas lead the way as being more expensive, so there’s a good chance we’re doing without some of the other stuff we love (i.e. apparel, house wares and even electronics).  Of course, having less money after shopping makes it harder to save money for a rainy day.

So a recap shows less “real” earnings equates to less purchasing power, which means less savings.  Unfortunately, less purchasing probably leads to somebody somewhere getting laid off or getting their hours cut.  Neither is good.  Loss of job or hours cut leads to even less purchasing power.  And, all of this leads to less savings – which exacerbates the concern for dealing with the “what ifs” in life (i.e. flat tires or other such emergencies).

Step into the picture, St. Louis Community Credit Union.  First things first, we don’t judge – we help.  Second, we aren’t just preaching from the bully pulpit that consumers must be smarter in the management of their hard-earned money; we actually provide resources and affordable pricing to help people achieve their goals.

Big financial goals are great, but achieving that first step may be the hardest.  Think SLCCU as your solution.  You need a checking account that doesn’t eat your lunch with monthly fees or an unreasonable minimum balance.  You need offices that are convenient in the neighborhoods in which you work, live or commute to and fro.  You need access to cost-effective overdraft privileges in case you hit the proverbial wall and need a “help-me-up” to get over it.

Look, I’m concerned.  Too many trends, key indicators, economic factors, bellwethers and discussions among so-called experts lead one to believe that 2012 won’t be turning the corner to prosperity.  So, help yourself by using St. Louis Community Credit Union to maximize your financial position.  Or as we like to call it: “get more bang for your buck.”

I hope the projections are wrong.  We love our members, the community and the region.  We want nothing but the best for you and your family.  That “best” is probably us.

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