We finally had a year with little impact from COVID-19 in 2022, but the year was not without its challenges. Towards the end of 2021, inflation started to climb and reached numbers we hadn’t seen in decades. This trend continued into 2022 and the year-over-year inflation rate peaked at 9.1% in June, the highest rate since 1981. In response to these inflation numbers, the Fed began raising interest rates in March and kept right on raising them throughout the year. We started 2022 with a Prime Interest Rate of 3.25% and ended the year at 7.50%.

Our Annual Meeting was held on March 24th at Walker Cinemas in North Ogden. Members were welcomed to the event by our friend MONEY MOO$E! Remarks were made by Chairman of the Board, Mark Ramsey, and our CEO and President, Jeff Shaw.