Transcript

Money Monday · Chuck Douglas

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Speaker 1: Greeting salutations. Welcome my friends to another edition of The
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Speaker 1: Power Hour on six to ten dou WUTV and I'm
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Speaker 1: Chuck Douglas. You know who you are, and we take
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Speaker 1: it from there. We get one hour together, which means
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Speaker 1: I talk really fast and you must listen even faster.
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Speaker 1: My number eight two one nine eight eighty six a
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Speaker 1: two to one WTV. And today today I had occasion
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Speaker 1: to visit Dayton, Ohio. A couple of things I noticed.
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Speaker 1: I'm gonna well, I'll get into that in the second
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Speaker 1: half hour. I'll tell you what though. The first thing,
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Speaker 1: because you know I'm always talking about the the the
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Speaker 1: lack of addiction, the lack of addiction today the elimination
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Speaker 1: of the middle consonant in words, far too a day on. Okay,
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Speaker 1: so the GPS, first time I've used it on the
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Speaker 1: new phone, a relatively new phone, it's about a month
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Speaker 1: and a half old now to go that direction, and
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Speaker 1: it had a middle consonant, but it wasn't the correct one.
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Speaker 1: The GPS kept saying Dayton daydon dayden oh. Even artificial
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Speaker 1: intelligence is unintelligent anymore, all right, So anyway, I will
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Speaker 1: tell you all about my excursion out of Daton here
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Speaker 1: in just a little bit. But first we're in the Monday.
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Speaker 1: We're in the money. We've got a not on what
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Speaker 1: it takes to get the first Monday of the month,
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Speaker 1: which of course makes it a money Monday with Pathways
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Speaker 1: Financial Credit Union, the man of a thousand picnic shirts
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Speaker 1: once again in the studio, Greg Kidwell, the president of
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Speaker 1: Pathways Financial Credit Union. You've got a great collection of
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Speaker 1: picnic shirts.
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Speaker 2: Well, I you know, I got it.
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Speaker 1: Give you a variety that I actually think I saw
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Speaker 1: Andy wear that to the Founder's Day picnic if I'm
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Speaker 1: not mistaken, and Barney spilled pain on it or something.
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Speaker 2: That could be you know, maybe what like nineteen fifty
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Speaker 2: three something love that.
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Speaker 1: But which was just yesterday if you think about it
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Speaker 1: only in my sick, demented mind. And what's going on
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Speaker 1: with you? It's been a month since I talked to you.
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Speaker 1: How's life?
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Speaker 2: Well, I just first of all, I want to start
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Speaker 2: off by thanking you because I know that you know,
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Speaker 2: we've spent a lot of time talking about fraud lately,
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Speaker 2: and and you know I've gotten more feedback from our
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Speaker 2: last Money Monday segment than any segment we've done yet.
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Speaker 2: From people who listen to that. So, yeah, I heard
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Speaker 2: about that. That was great information, that was great advice,
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Speaker 2: and so I just want to thank you for all
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Speaker 2: you're doing to help educate people throughout Ohio on how
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Speaker 2: to protect themselves and protect their money because people work
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Speaker 2: hard for their money.
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Speaker 1: Josh, yes, they do what I'm if that made a difference,
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Speaker 1: it made somebody pay attention that, I'm very happy. Gibility
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Speaker 1: is something from outside you can look at and go
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Speaker 1: you're an idiot, and then suddenly it's you one day
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Speaker 1: because you know, as we said, they're getting smarter, they're
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Speaker 1: getting better, and you don't have to be an idiot
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Speaker 1: to be glible in twenty twenty six, No.
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Speaker 2: You don't, because there are a lot of ways that
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Speaker 2: they can reach out. They reach out to you through
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Speaker 2: your phone, they reach out to you through your computer.
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Speaker 2: And the most important thing you can remember if you
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Speaker 2: get a text message from somebody that acts like they've
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Speaker 2: been to your friend for the last ten years and
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Speaker 2: you've never heard of them in your life, don't respond
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Speaker 2: because they're trying to find out if you have a
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Speaker 2: valid phone number or not, so maybe they can use
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Speaker 2: it against you, or maybe they could use it to
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Speaker 2: spoof your number to use it against somebody else. Just
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Speaker 2: hit that little button in your phone that says delete
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Speaker 2: and report spam.
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Speaker 1: Yeah, that's all you need to do in mine. Actually,
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Speaker 1: I just switch phones here recently, and I don't know
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Speaker 1: if it's the phone that does it, or the cell
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Speaker 1: carreer that does it or what. But I get a
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Speaker 1: lot that'll say suspected spam before I even bother yep.
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Speaker 1: And if it looks like a local number and I think, oh,
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Speaker 1: this could be a client or something, I'll answer it.
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Speaker 1: If you get that little before anything, I'm like, yeah,
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Speaker 1: that's another auto dialer.
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Speaker 2: Yep.
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Speaker 1: I'm not sure who's responsible for inserting that sound, but
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Speaker 1: bless their hearts, good giveaway, Yes it is. You get it.
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Speaker 1: But phone does that when I call, which I don't appreciate.
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Speaker 1: I think it's just because.
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Speaker 2: I have an old phone. Shot. It's like me, I'm old,
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Speaker 2: my phone's old, you know.
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Speaker 1: Yeah. The way it is, we are already in the
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Speaker 1: month of August. I cannot believe how quickly summer is going.
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Speaker 1: A lot of people get rbs and boats.
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Speaker 2: Yeah. We've had definitely really good response to that promotion.
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Speaker 1: Good though, good that means I that is an indicator
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Speaker 1: of the mindset of people. And I'm glad to hear
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Speaker 1: that the recreational mindset is back because we spent we
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Speaker 1: spend way too much time being worried. And when people
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Speaker 1: buy things like that, it means, you know what, I'm
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Speaker 1: not worried. I'm going to go fishing. I'm going to
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Speaker 1: take the family on a vacation. We're going to see
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Speaker 1: Yellowstone whatever. I love that because it's an indicator of
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Speaker 1: other things. So I'm glad to hear that.
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Speaker 2: Yeah, we're obviously glad to see that too, but we
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Speaker 2: do also know that, you know, among our membership, you know,
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Speaker 2: the economy is not that great right now. You know
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Speaker 2: things are tough because you know, inflational drive prices up
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Speaker 2: up like a rocket, but they don't tend to come
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Speaker 2: down very fast. They come down like a feather. Right, Yeah,
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Speaker 2: So go up like the prices, go up like a rocket,
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Speaker 2: come down like a feather. And you know that makes
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Speaker 2: makes things tough for people, and especially with gasoline and
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Speaker 2: things of that nature. You know, it makes it hard
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Speaker 2: to afford other things. And like I said, people work
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Speaker 2: hard for their money, and you know, when people are
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Speaker 2: working hard for their money. They deserve a decent return
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Speaker 2: on their money. And at Pathway's Financial Credit Union here
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Speaker 2: in August and through the end of September, we're trying
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Speaker 2: to help them out with something that will give them
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Speaker 2: a better return on their money than what they might
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Speaker 2: find in a traditional savings account or even your average
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Speaker 2: money market account that you might come across.
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Speaker 1: All right, so this beats a toaster? What do we do?
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Speaker 1: It used to be when the financial place said, you know,
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Speaker 1: we've got something new if they give you a toaster
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Speaker 1: for opening a new account. But this sounds better than
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Speaker 1: a toaster.
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Speaker 2: If you come in and open up a membership with
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Speaker 2: Pathways Financial Credit Union and you have twenty five hundred
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Speaker 2: dollars up to a million dollars, you can open up
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Speaker 2: a money market account that will earn you four percent
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Speaker 2: annual percentage yield for a period from the time you
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Speaker 2: open that account until January thirty first of twenty twenty seven.
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Speaker 1: So four percent. I mean, I've seen people out there
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Speaker 1: happy that I'm getting two point one two point twenty
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Speaker 1: five percent four percent. As crazy as it sounds, that
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Speaker 1: is a big deal.
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Speaker 2: Absolutely, and we, like I said, we want to reward
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Speaker 2: people for banking with Pathways. And so if you come
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Speaker 2: in between August first and September thirtieth, open that money
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Speaker 2: market account, you will earn that rate until January thirty first,
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Speaker 2: twenty twenty seven. So you can earn that you can
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Speaker 2: earn that four percent apy for up to six months.
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Speaker 1: That's again, it's wonderful. And and you know what's six
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Speaker 1: months from now, Let's hope that things are going gangbusters
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Speaker 1: and you know, overseas has calmed down and gas prices
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Speaker 1: are at least less volatile if they can't be much lower,
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Speaker 1: and the supply chain is going well, and I can
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Speaker 1: finally have some lettuce again. I mean, there's all kinds
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Speaker 1: of good stuff that could happen, yes, in the next
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Speaker 1: six months. And you know, the smart money people, I
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Speaker 1: would say, if it's going well and rates are even higher,
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Speaker 1: you just roll that money over because I'm guessing there's
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Speaker 1: probably going to be a following product that's going to
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Speaker 1: be good to you as well, as long as the
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Speaker 1: rest of the economy is doing well.
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Speaker 2: Yeah, this would be a springboard, you know, to get
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Speaker 2: right into after that six month promotional period expires, into
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Speaker 2: you know something maybe a little longer term, maybe a six, twelve, eighteen,
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Speaker 2: twenty four month certificate of deposit.
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Speaker 1: That's something you and I've really never talked about too much,
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Speaker 1: and that is the fact that rates and understanding interest
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Speaker 1: rates is so difficult for so many people. But when
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Speaker 1: you hear it, well, this interest rate is up, the
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Speaker 1: prime is up, the credit card rates are when rates
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Speaker 1: go up. If you are blessed, if you are fortunate
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Speaker 1: enough to have cash at your disposal, that's a great
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Speaker 1: time to make money.
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Speaker 2: Absolutely, it is a great time to make money. And
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Speaker 2: usually interest rates are rising because there is some pressure
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Speaker 2: in the economy. That's that's forcing that, and whether it's inflation,
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Speaker 2: whether it's unemployment, you know things. Typically, you know, rates
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Speaker 2: are typically going up when the Federal Reserve senses that
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Speaker 2: there's an issue in the economy and they need to
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Speaker 2: slow things down. Raising interest rates is a way of
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Speaker 2: flowing down borrowing.
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Speaker 1: That's what it's going to say. There there's no consistency
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Speaker 1: as well to why rates may rise, whether that's the
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Speaker 1: rates you're paying or the rates you're getting. If we're
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Speaker 1: going too strong and you know, everybody's buying new cars,
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Speaker 1: everybody's buying new houses, kids have new shoes, let's go
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Speaker 1: out there. That's when you know the government steps in,
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Speaker 1: The Fed steps in and says we need to slow
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Speaker 1: things down because this will cause inflation. They try to
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Speaker 1: keep inflation from happening by causing inflation, which is really
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Speaker 1: an odd way of thinking, but that's what they do.
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Speaker 1: If we're going gangbusters too strong, they want to slow
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Speaker 1: it down, and so interest rates begin to go up
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Speaker 1: in order to keep people from spending so much money.
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Speaker 1: As a way, it's it's kind of a controlled burn,
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Speaker 1: I think, is what they're going for.
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Speaker 2: Yes, exactly.
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Speaker 1: And so there is that sweet spot which I hope
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Speaker 1: we're headed for at the end of the six months
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Speaker 1: with this deal, where they're allowing things to prosper and
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Speaker 1: go gangbusters for a while to get us back in
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Speaker 1: the habits before they start adjusting thing. And that's that's
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Speaker 1: prime time to jump into situations like this.
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Speaker 2: Yes, and again, you don't need a lot of money
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Speaker 2: to do it right. You need twenty five hundred dollars
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Speaker 2: and you can open up this money market account. You
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Speaker 2: can earn four percent and at the end of the
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Speaker 2: six month period we'll see where the economy's at then.
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Speaker 2: But you know, if the economy is such that rates
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Speaker 2: are going down, well, then it's a great way to
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Speaker 2: step into a certificate where you can have a locked
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Speaker 2: rate for a period of time.
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Speaker 1: And this is you can do this beginning right now
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Speaker 1: through the end of September.
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Speaker 2: Right right now through the end of September, you'll you'll
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Speaker 2: still get the four percent. You'll be locked in on
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Speaker 2: four percent apy until January thirty first, twenty twenty seven.
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Speaker 2: But as you like to say, it is a limited
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Speaker 2: time promotion, so you have between now and September thirtieth dact.
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Speaker 1: The good stuff never lasts forever. You got a joke
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Speaker 1: when you can jump? That's right. Anything else in the
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Speaker 1: wonderful world of Pathways you want to tell me about
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Speaker 1: before you say goodbye this week, because stuff is always
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Speaker 1: happening there and I hear the gossip.
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Speaker 2: Well, yes, we always have something going on right now,
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Speaker 2: This this promotion is our main focus. We've been working
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Speaker 2: on getting this set up for for a number of
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Speaker 2: months and we're really excited about it. And so this
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Speaker 2: is going to be our focal point for the next
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Speaker 2: few months, all right, seeing how many new members that
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Speaker 2: we can attract the Pathways with this.
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Speaker 1: Offer, and if you've been wondering, what are they talking about?
11:13
Speaker 1: I missed that. PATHWAYCU dot com is the website Pathways
11:17
Speaker 1: SEU dot com. Everything you need to know about pathways
11:21
Speaker 1: and money and fraud prevention and credit cards and loans,
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Speaker 1: and it's all right there. I use it a great deal.
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Speaker 1: Lots of tabs across the top that will explain pretty
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Speaker 1: much any question you might have. And if you want
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Speaker 1: to know about this particular offer PATHWAYCU dot com, it
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Speaker 1: will all be there. They are federally ensured by NCUA.
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Speaker 1: They are Pathways Financial Credit Union and yes, yes, yes, yes,
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Speaker 1: Pathways Financial Credit Union is my credit union