Throughout 2023, we saw the Federal Reserve increase interest rates, at a historical pace. Although this was in their attempt to reduce inflation and balance the economy, it gave us the opportunity to pay you higher dividends on many of your deposits while keeping our loan rates as low as possible. In fact, despite these rising rates, we were able to originate $165 million in loans and return almost $3.9 million in dividends to members throughout our field of membership. While helping members with their financial needs, we maintained a solid foundation of net-worth on our balance sheet. For 2024 it is possible that the Federal Reserve could reduce some rates, but no one is certain. However, what we are certain of is that we continue to be financially stable and ready to serve you and your family’s financial needs into the future. We appreciate you choosing Heritage Family and wish you a very happy and prosperous 2024.

-Christine Messer, Executive Vice President/Chief Financial Officer