How far down the road do you look when making decisions? What environment's pertinent to your outlook? Are you all about the "here and now" or do you look longer term? If you follow the press... it's all about now. If you follow your members needs, it's a much longer term that needs to be considered.
In fact, I always take action following the following axiom: Rule #1 -- Be here next year.
That's pretty tough when our numbers come out monthly, we have an annual budget, and we are constantly renewing our 5-year plan. We really need to gaze further down the road than those short time-frames.
We certainly can't ignore current trends, but we should reflect how that will impact the future. I've seen cu's making 3% auto loans for up to 60 months. If they looked at their short-term investments, this may look to be a good idea. However, 36 months from now, that may not have been the best use of their funds. Especially when you figure in maintaining the account, statements, loss ratios... etc.
Like a good poker player, you've got to know when to hold them and when to sit the hand out.
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