THE VISION MOVING FORWARD “PLAN, PREPARE, BUILD”

By Eddie Campa, Executive Director

I have trusted my retirement account with Transamerica for many years; nothing should come as new when I receive quarterly statements. However, I was in disbelief when I opened my 4th quarter statement; I was in disbelief. I had lost almost 20% of my retirement. I realize that in time I should be able to recover what was lost and even more than that; however, it was a difficult pill to swallow.

It is nothing new to us. The economy, just like anything else, goes through seasons and adjustments that can make it difficult for everyone. What are some of the factors that have recently impacted the U.S. economy? We can start with inflation. Inflation is the overall cost increase for goods and services, decreasing the dollar’s purchasing power. Have you seen your grocery bill rise lately? The price of eggs and milk has increased, among many other items. Factors contributing to inflation have been increased employee wages, supply chain issues, and energy costs. All these, along with other factors, directly impact inflation.

DIRECTORS & EXECUTIVE OFFICERS

JOSEPH RODRIGUEZ, CHAIRMAN

ANDY PROVENCIO, VICE CHAIRMAN

EDDIE CAMPA, EXECUTIVE DIRECTOR

MARTIN AMADOR, SECRETARY

GIL AGUILAR, TREASURER

JORGE MONTES, DIRECTOR

LEOBARDO MAFFEY, DIRECTOR

SUZANNE VALENCIA, DIRECTOR

YVONNE VASQUEZ, DIRECTOR

GEORGE LOPEZ, DIRECTOR

LOAN COMMITTEE

ANDY PROVENCIO

JESSE VALDEZ

EMMANUEL VASQUEZ

MARIO PLASCENCIA

ADRIAN DIAZ

FINANCE COMMITTEE

GIL AGUILAR

SUZANNE VALENCIA

ISAI BAEZA

COMPLIANCE COMMITTEE

JORGE MONTES

YVONNE VASQUEZ

ERICKA JUÁREZ

STAFF

ABRAHAM MAFFEY, ACCOUNTANT

ESTEBAN ROBLEDO, LOAN OFFICER

EVA RODRIGUEZ, ASSIST. EXECUTIVE DIRECTOR

MICHELLE E. GONZALEZ, FINANCIAL ANALYST

ELIZABETH ORELLANA-CAUDILLO, EDITOR

DOMINIC MOSCHETTI, CREATIVE DIRECTOR

Aside from inflation having an impact on our economy, the surging rise of interest rates increases the cost of loans for families, small businesses, churches, and organizations. Rising interest rates also impact the stock market, causing investors to take losses. Although it is too early to tell, there is the possibility that we are headed to an economic downturn.

Even in times of economic uncertainty, we must look ahead with a positive outlook. We continue to dream and plan; however, we move forward wisely. We move into a season of saving and preparation for the right time. I like the advice that Solomon gives:

Do your planning and prepare your fields before building your house.

Proverbs 24:27 NLT

Before building the house, before building the dream, planning, and preparation are required. Solomon said to prepare the fields. Sow the seeds and reap the harvest so that there is adequate income to support the dream.

As you work on your financial plan for this year, consider Apostolic Mutual as an option to open a Certificate of Deposit or even an Individual Retirement Account to supplement what you already have. As interest rates increase, so will ours. We look forward to offering higher rates on our Deposit Accounts to help the churches and the members of the Apostolic Assembly prepare for plans. With our new systems now in place, depositors can now view their accounts online.