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Community Choice Credit Union - Gives Big Advice on Interest Rates

Muskegon Metro Area News
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Community Choice Credit Union Gives Big!  As we've worked to help share that message, we also dropped an idea in their ear that they could give big equally by sharing some of the vast knowledge that's held in the minds of those they have in their Member Centers in Muskegon and across the state!  Then we said if you were able to find some who'd share, we've got what you need to spread the word and VOILA!  Community Choice Credit Union Gives Big Financial Advice!

Advice is one way to phrase it, but you could file this one under financial literacy too.  We're talking with Ethan Lohman who's the Manager of the Member Center in Downtown Muskegon on Western Avenue about interest rates.  Let's pause for transparency a moment.  The author of this column has ZERO concept of interest rates, how they work or what they mean (as you'll hear).  Why is this pointed out?  Well, here's the thing....interest rates....are hard.  Understanding why interest rates fluctuate is confusing at the simplest, difficult to most and to the completely unaware....it can be a life long trap.  Some interest rate programs are set up to NEVER let you tackle the principal. 

This is a valuable conversation about how interest rates go up and down and more importantly WHY.  It's also sound advice on financial planning and strategy beginning at a young age.  Take a listen!  
 

To learn patterns of discipline and consistency at an early age is key as Ethan said in the video.  Finance is also such an incredibly complicated field, that we've had to come to terms with the idea of "Predatory Lending".  There are plenty of opinions in the Student Loan Forgiveness Program, but had people understood what kind of loan they were taking out we may have never had to face that.  Think if lending and who you're working with.  Community Choice Credit Union is member driven and focused on helping their members money go the furthest for them.  A bank has one job and that is to make money for stock holders.  Stopping in to one of the Community Choice Credit Union Member Centers in Muskegon or Holland is a great way to see how "Different is Good".  Our thanks to Ethan and the staff of the Western Avenue Member Center today for the visit and know how!

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