Shopping for a Loan? Act Soon

We’re all too painfully aware: Inflation is taking its toll.

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To tamp it down, the Federal Reserve is expected to boost interest rates by another 0.75 percentage points this week. What that means: rates for certain loans, such as car loans and credit-card rates, will be rising. (Mortgage rates are tied to another benchmark—but they’ve been rising steadily, as well.)

 

What does that mean to you? Our rate for a 60-month loan on a new car is 4.25% today. If that rate goes to 5%, you’ll pay $900 more for your car over the life of your loan.

 

Make an appointment with one of our loan experts by calling your local credit union branch and find out how we can help you.