posted February 20, 2026 in Credit & Debt
Interest rates are a key factor in both your savings and loans. Simply put, an interest rate is the cost of borrowing money or the return you earn on your savings. Understanding how interest rates work can help you make smarter financial decisions when saving for the future or paying off debt. At Greater Iowa Credit Union, we want you to have the knowledge to manage your finances effectively, which includes knowing how interest rates can affect your financial goals.