On today’s episode, Mark is joined by longtime friend and colleague, Fred Ryerse of Patriot FCU. Fred has been in the financial services world for 42 years now and offers insight on current trends by looking back at interest rates during the 1980s. Fred and Mark catch up on the old days as well as have a candid conversation about what is in store for 2022. Listen in as they discuss what credit unions should be thinking about today and pick up some pointers for your team.


  • [01:19] Fred shares about his work in financial services 
  • [02:23] What did interest rates look like back in the 1980s
  • [06:35] What lessons can we learn from the 80s
  • [09:36] How to respond to rising interest rate environment
  • [13:16] How will this affect delinquency numbers and what does the economy look like as a whole right now
  • [17:33] How to respond when a borrower requests a longer term rate
  • [22:57] What will 2022 look like for credit unions 
  • [25:52] Fred shares a client success story


  • It’s important not to panic during financial uncertain times like this. We are not in a recession yet and we may not ever get there despite everything that’s going on. However, the risk is definitely higher now than it was three months ago. 
  • What can credit unions do during this time? Be more diligent about staying close to your borrowers and understanding their cash flow concerns. In some cases, you’re going to have borrowers that have increasing revenues because of inflation. Pay attention to the ratios and the fact that staying exceedingly close to borrowers and understanding the risks.
  • Some customers may request a longer term rate because they are fearful of increasing rates. But don’t lose sight of the credit union’s need to be profitable at any point on the curve. Create your pricing model based on the cost of funds, what it takes to put tenure money out there, and the inevitable riskI due to the interest rates. This may create a premium price and option but one that still protects the credit union as well.


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Fred Ryerse is the Chief Lending Officer at Patriot Federal Credit Union, an almost billion credit union serving Chambersburg, PA, Hagerstown and Frederick, MD and Martinsburg, WV. He has had a 42 year career in financial services, with the last 25 being with credit unions. He is an advanced amateur photographer, and he and his wife love to travel, including Italy next week!

Mark Ritter is the CEO of MBFS and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership.

Mark Ritter Website

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“We’re not in a recession and we may not ever get there despite everything that’s going on, but the risk is higher.”

Fred Ryerse

“One of the lessons that we can look at from [the 80s], they weren’t going to increase interest rates in little tiny increments that didn’t really impact people. They said skyrocket interest rates and for the most part – I’m going off of history reading versus living – but it worked.”

Mark Ritter