Latest / Chuck Douglas / Money Monday 11-2-2026

Transcript

Money Monday 11-2-2026 · Chuck Douglas

• 0:00
  Speaker 1: We're in the money. We're in the money. We've got
• 0:05
  Speaker 1: a lot of what it takes to get along.
• 0:17
  Speaker 2: All righty then. Hard to believe we are already in
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  Speaker 2: the month of November, but we are. And the first
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  Speaker 2: Monday of the month is always a Money Monday with
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  Speaker 2: Pathways Financial Credit Union and Greg Kidwell. the president in
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  Speaker 2: a really nifty Ohio State shirt today, joining me in
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  Speaker 2: the studio for Money Monday. How are you doing?
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  Speaker 1: I'm doing great, Chuck. How are you today?
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  Speaker 2: I'm loving that shirt. Really, sir. The blocko is so understated,
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  Speaker 2: unless you look for it, you don't even see it.
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  Speaker 2: That's very cool.
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  Speaker 1: Well, you know.
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  Speaker 2: It fits in with the pattern of the shirt. Did
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  Speaker 2: you make that yourself? No.
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  Speaker 1: Actually, my friends in our accounting department Pathways got it
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  Speaker 1: for me. Really? For a Christmas present.
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  Speaker 2: Oh, that's so sweet.
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  Speaker 1: Yeah, they happened to like me at that time.
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  Speaker 2: At that time. You are a very likable person.
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  Speaker 1: It can change on a day-to-day basis.
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  Speaker 2: So how's things been for the last month? Everything going well?
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  Speaker 1: Everything's going great. We've been really blessed at Pathways to
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  Speaker 1: have a great year. Doing great financially.
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  Speaker 2: And looking forward to another great year because, I mean,
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  Speaker 2: 27 is, what, two months away now. We're in 2027 already.
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  Speaker 1: Which is hard to believe. Yes, it is. It's crazy
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  Speaker 1: how fast time has gone this year. But, you know,
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  Speaker 1: because we're doing so great and because we're a credit
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  Speaker 1: union and credit unions are not-for-profit financial cooperatives, we want
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  Speaker 1: to share some of that with our members. So we
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  Speaker 1: made a decision just to About a week ago, that
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  Speaker 1: starting in November, we would substantially raise our money market
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  Speaker 1: account rates.
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  Speaker 2: I like this.
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  Speaker 1: And we raised our rates to the point where they
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  Speaker 1: should be among the best money market rates in town.
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  Speaker 1: That is great. That's for all of our different tiers
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  Speaker 1: of our money market, anywhere from $ 2, 500 up.
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  Speaker 2: So when the Fed raises rates, I get depressed. When
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  Speaker 2: you raise rates, I get happy because that means a
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  Speaker 2: bigger payoff for the customer.
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  Speaker 1: Well, we're raising them on the deposit side, not the
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  Speaker 1: loan side.
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  Speaker 2: Well, don't do that.
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  Speaker 1: Exactly. So, you know, we want to continue to grow
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  Speaker 1: our deposits and continue to grow our membership. So we
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  Speaker 1: thought by raising our money market rates the way we did,
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  Speaker 1: It's pretty substantial, and you can check that out just
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  Speaker 1: by going to our website at www.pathwaycu.com. You'll see just
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  Speaker 1: how substantially we've raised those rates and how good they
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  Speaker 1: are compared to the rest of the market. And we
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  Speaker 1: think you might, if you're not a member, you might
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  Speaker 1: want to become one. If you are a member, you're
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  Speaker 1: probably going to get excited about it.
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  Speaker 2: And this is what, $ 2, 500 minimum? $ 2, 500 minimum.
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  Speaker 1: No maximum.
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  Speaker 2: Well, no, you don't want a maximum. And that begins
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  Speaker 2: now in November. How long do you have to get
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  Speaker 2: in on this?
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  Speaker 1: This is not a promotion. This is literally our regular
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  Speaker 1: money market rates. And so what we've said, we've committed
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  Speaker 1: as a board, as a management team, we've committed to
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  Speaker 1: leave these rates in place at least until January 31st
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  Speaker 1: of 2027. So we're going to have these rates in
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  Speaker 1: place at least until that point. And, you know, you
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  Speaker 1: just mentioned rates going up. The Federal Reserve may raise
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  Speaker 1: rates again in December. Nobody knows except for them, right? Yeah.
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  Speaker 1: But the markets seem to be in a position to
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  Speaker 1: be betting that way. So, you know... We may end
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  Speaker 1: up raising them again. I can't say for sure, but
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  Speaker 1: one thing I can tell people is we're not going
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  Speaker 1: to lower those rates. We've committed to spend this extra
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  Speaker 1: money in dividends for our members and for new members
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  Speaker 1: coming in who want to take advantage of these rates.
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  Speaker 2: That's the side of the economy that most of us
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  Speaker 2: are illiterate. I largely illiterate myself when it comes to
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  Speaker 2: economic things. But I do know that while it is
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  Speaker 2: bad news, per se, when we hear, well, the Fed
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  Speaker 2: has increased the basis points a quarter of a percent.
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  Speaker 2: If you're trying to borrow money, yeah, that's kind of
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  Speaker 2: a pain in the tuchus. However, if you have some money.
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  Speaker 2: There's a benefit to that because when they are raising
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  Speaker 2: those rates, that means that corresponding rates on things like
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  Speaker 2: your money markets, your certificates of deposit and so forth
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  Speaker 2: are also going to increase in what kind of yield
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  Speaker 2: you're going to get from the money you invest in them.
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  Speaker 2: So while the six o'clock news tries to make you
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  Speaker 2: think it's a terrible world, this is actually kind of
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  Speaker 2: a benefit of the terrible world stuff.
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  Speaker 1: Well, and when you look at it, and we're both
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  Speaker 1: old enough to remember this, but when you look at
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  Speaker 1: interest rates, interest rates go up, interest rates go down.
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  Speaker 1: It's very cyclical, just like everybody talks about the stock market.
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  Speaker 1: The stock market goes up, the stock market goes down,
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  Speaker 1: goes up again. But I think you remember back in
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  Speaker 1: the early 80s when people were opening CDs for like 16%, right? Mm-hmm.
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  Speaker 1: But you were also paying maybe 19% on your mortgage.
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  Speaker 2: Yep. In the early 80s, I actually had a program
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  Speaker 2: at the place I worked to buy savings bonds, U.S.
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  Speaker 2: savings bonds. And though they were double E, they were
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  Speaker 2: set up with a basement of 7%. They could not
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  Speaker 2: pay less than 7%. That's how high interest rates were
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  Speaker 2: because I think they're paying 2% now.
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  Speaker 1: Yeah, exactly. So you can see everything is cyclical, you know, but.
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  Speaker 1: You know, you're right. If you have money to save,
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  Speaker 1: it is a good time to be a saver.
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  Speaker 2: That's the benefit of being an older person with a memory.
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  Speaker 2: Because if you bother to recall the things that have
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  Speaker 2: happened before, pay attention to them because it is all
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  Speaker 2: a circle. It all comes back and we will see
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  Speaker 2: things go down again and profit going up and then
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  Speaker 2: interest rates going down and purchasing going up. And then
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  Speaker 2: we'll go back to where we are right now. Ten
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  Speaker 2: years from now, we'll be right back. The circle just
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  Speaker 2: keeps turning.
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  Speaker 1: Yeah, absolutely. It does.
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  Speaker 2: So as we're turning the circle into 27, anything else
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  Speaker 2: aside from this? This is awesome money market news. Anything
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  Speaker 2: else down the path that we can look forward to?
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  Speaker 1: Yeah, we have another little thing going on. But just
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  Speaker 1: real quick, I talked about the fact that we're a
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  Speaker 1: credit union. We're essentially a financial cooperative, if you will.
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  Speaker 1: Nothing says cooperative enough. more than sharing your profits with
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  Speaker 1: your members. And that's exactly what we're doing with this
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  Speaker 1: money market promotion. And that's the main difference between a
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  Speaker 1: credit union and other financial institutions.
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  Speaker 2: Pay your employees, pay your bills, but you're not there
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  Speaker 2: to sell stock and have a bunch of big dividends.
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  Speaker 2: You're a stockholder when you're a member.
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  Speaker 1: Yeah, we maximize our return to our members. We don't
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  Speaker 1: have outside shareholders that we have to worry about satisfying.
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  Speaker 2: That's why I love you.
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  Speaker 1: And that's why we love you right back. So as
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  Speaker 1: far as anything else going on, we have an auto
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  Speaker 1: loan refinance promotion going on. It's also here in the
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  Speaker 1: month of November. This is going to run through the
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  Speaker 1: end of the year. And we're offering rates as low
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  Speaker 1: as 5.75% with an APR of 5.99%. And that's going
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  Speaker 1: to be on Vehicles that are like from 2016 to
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  Speaker 1: 2022 model year. So it clearly is a used car
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  Speaker 1: refinance promotion because vehicles are expensive. Yes.
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  Speaker 2: And some people get suckered into interest rates that are ridiculous.
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  Speaker 2: I actually had a conversation with a young lady two
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  Speaker 2: weeks ago, maybe 10 days, two weeks. And the interest rate,
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  Speaker 2: she said, I just I can't believe how much I
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  Speaker 2: still owe on my car. the interest is killing her
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  Speaker 2: on this thing. You've been paying on this for four years.
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  Speaker 2: It should be paid off. But no, it's not because
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  Speaker 2: she's at like 16, eight or something like that.
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  Speaker 1: She'd be a perfect candidate.
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  Speaker 2: That's who needs to come see you.
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  Speaker 1: Yes. Because this is for people who have vehicles that
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  Speaker 1: are a little bit older, you know, vehicles that are
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  Speaker 1: a little bit older, but we can, we can get
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  Speaker 1: your interest rate down for you. And even if it's
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  Speaker 1: not at the lowest possible rate, it's going to be better.
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  Speaker 2: Well, even if it's, let's say she qualifies for 8%,
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  Speaker 2: that's better than 16 point anything. And the fact of
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  Speaker 2: the matter is, it's going to be paid off way
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  Speaker 2: quicker than her sticking to her current loan, which is
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  Speaker 2: exactly what I was trying to tell her when I said,
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  Speaker 2: go see these people.
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  Speaker 1: And we're not trying to shoehorn people into short terms
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  Speaker 1: for these loans. I mean, we're offering terms up to
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  Speaker 1: 60 months. for these vehicles.
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  Speaker 2: That's wonderful.
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  Speaker 1: So, you know, we're trying to help with affordability, right?
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  Speaker 2: But if you're already making, you know, a payment of
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  Speaker 2: $ 500 on your used car, that lower rate, oh, look,
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  Speaker 2: you only have to pay $ 260. But if you're used
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  Speaker 2: to making the $ 500 payment, go ahead and make it,
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  Speaker 2: pay the thing off faster, and then call Pathways and say,
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  Speaker 2: now I want something shiny and brand new.
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  Speaker 1: There you go. I think I couldn't have said it
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  Speaker 1: any better myself.
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  Speaker 2: Yeah, I've never... Never been a proponent for drawing things
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  Speaker 2: out any longer than they have.
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  Speaker 1: No, no. Obviously, you want to be in debt as
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  Speaker 1: short of a period. of time as possible.
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  Speaker 2: You got any wonderful stories for me that have happened
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  Speaker 2: since I talked to you last month? Any employees that
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  Speaker 2: went way beyond and above the call of duty and
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  Speaker 2: did anything impressive? Because I love those.
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  Speaker 1: You know, I didn't bring any with me today. I apologize,
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  Speaker 1: but They do it every day. And if you want
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  Speaker 1: to know those stories, all you really have to do
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  Speaker 1: is just pull up our Google reviews and look at
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  Speaker 1: our Google reviews. And those are where you'll find the stories.
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  Speaker 2: As a financial cooperative as opposed to some big, giant
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  Speaker 2: corporate entity, I know those Google reviews mean a lot
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  Speaker 2: to you. Are your clients, the family members at Pathways,
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  Speaker 2: are they different? Are they pretty good about that? Are
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  Speaker 2: the numbers of Google reviews growing for you now?
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  Speaker 1: Yes.
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  Speaker 2: Good.
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  Speaker 1: We pride ourselves on the fact that we probably have
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  Speaker 1: more Google reviews. And we post them all. They're not
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  Speaker 1: all five stars. We're just like anybody else. Occasionally we'll
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  Speaker 1: get a one star or a two star review. But
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  Speaker 1: we'll respond to those and we'll figure out what went
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  Speaker 1: wrong and we'll try to get them better. But the
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  Speaker 1: vast majority of the reviews are you know, four and
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  Speaker 1: five star reviews. And we have more Google reviews than
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  Speaker 1: any other credit union in the state of Ohio.
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  Speaker 2: Somebody gives you a one star review. You send me
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  Speaker 2: the name and address. I know people, man. I know people.
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  Speaker 1: I think really that's called a learning experience because we're
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  Speaker 1: not perfect and neither is anybody else in this world.
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  Speaker 2: And have you honestly, have you found something? Somebody gives
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  Speaker 2: you a low review on something. You know what? These
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  Speaker 2: people are right. We need to make a change here.
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  Speaker 1: Yeah, we've had situations where, you know, the way something
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  Speaker 1: was handled didn't go the way it should have gone.
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  Speaker 1: And we had to make it right.
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  Speaker 2: That kind of responsiveness is awesome.
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  Speaker 1: Yeah.
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  Speaker 2: I love it.
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  Speaker 1: That's what we try to do.
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  Speaker 2: You mentioned earlier you can go see everything, basically everything
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  Speaker 2: you need to know at PathwayCU.com. PathwayCU.com is the website.
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  Speaker 2: 2026 has been apparently a banner year because I see
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  Speaker 2: lots of smiles. Every time I go in. And if
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  Speaker 2: the world makes sense, 2027 is going to be even better.
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  Speaker 1: We hope so, right? I really believe so. It's what
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  Speaker 1: we all want. Every year should be better than the
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  Speaker 1: previous one.
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  Speaker 2: And those new higher money market rates are in effect
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  Speaker 2: right now. Instead of wasting it, invest it. Make your
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  Speaker 2: money work for you. You worked for the money, for
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  Speaker 2: goodness sake. And talk to your people in accounting and
• 12:36
  Speaker 2: see if maybe they got a really big one of
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  Speaker 2: those shirts.
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  Speaker 1: Let's see what I can do for you.
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  Speaker 2: I love that shirt. Greg Kidwell, he is the president.
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  Speaker 2: Another edition of Money Monday coming to a close here
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  Speaker 2: in this month of November. And my reminder to you
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  Speaker 2: that I am so awesome, so awesomely happy every time
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  Speaker 2: I get a chance to tell you that Pathways Financial
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  Speaker 2: Credit Union is my credit union.
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  Speaker 1: Thank you, Chuck.