The Rotary Club of Harrisburg (#23 in the world) returned to the Hilton Harrisburg on Monday, March 7, 2022.  The meeting was called to order by President Matt Staub at 12:10 pm.  The invocation was given by Carolyn Dumaresq, and the pledge of allegiance was led by President Matt.  Following the pledge, Matt released the Rotarians to meet and greet each other for the first time in a long while.  Much engaging interaction followed.  

Guests attending today were introduced by their hosts as follows:

• Una Martone introduced Joe Robinson

• Karen Paris introduced Nick DiFrancesca of the Dauphin Co. Library

• Sue Ward-Diorio introduced Dave Carl and Jennifer Kern from Central PA Food Bank

• Rick B. introduced Peter Megovlas from Members 1st FCU

Meet the Member presentation:

Rotarian Char Magaro shared her classification talk with the club.  Many know Char as the owner of Char’s at Tracy Mansion, and she has also been involved in many other businesses over the years in the community and in other areas.  Originally from Erie, PA, she has traveled internationally, living in the Himalayas for a few years early in her adult life.  Char has lived in the Central PA area for 48 years, and has a strong interest in environmental issues and serving the needs of the community.  She believes in visioning–if you can envision it, you can attain it.  It’s great to have you as a member, Char!

Peggy Grove  shared (as an honorary host) that the Heart Association of Harrisburg is again holding a gala on April 1.  See her if you have an interest in attending.

Toni Mark reported that our 4-Way Test Speech Contest winner has become one of the five finalists presenting at the District Conference in May.  Good luck!

Our next Service on a Monday is scheduled to be at the Humane Society of Harrisburg on March 21 in place of our noon meeting at the Hilton.  Space is limited, so please sign up on ClubRunner as soon as possible.

President Matt reported that the board has voted to donate $1,500 from unused meals costs to three different organizations ($500 each).  These are Downtown Daily Bread, Central PA Food Bank and the Rotary Foundation's Disaster Relief Fund, which will be directed to support Ukrainian refugees. 

Rotarian Dr. Ski introduced our speaker for today, Members 1st FCU President and CEO George Nahodil.  Mr. Nahodil leads a financial institution with 500,000 members in Central PA.  He has worked in the NY banking industry, and has previously served as a teacher in New York state as well.  He serves on many boards in the region, and has received many well-deserved awards.

George shared about the local and national economy, and some details of the growth of Members’ 1st and their commitment to serving the community.  They are the second largest provider of mortgages in the state, provide car loans totaling $100 million monthly, and have $700 million in commercial loans.  During the pandemic, they were able to provide $186 million in PPP loans to area businesses. 

He then spent some time comparing the dynamics of the 2020 and 2021 periods of the pandemic, and how that compares to what is currently happening and may happen in the future.  Following the disruption of the first two years of the COVID pandemic Members 1st has strong lending demand, while deposits remain flat as members begin to spend some of the money they have delayed spending during the pandemic.  He reports that Fed interest rates are rising, but the long term rates are still low, which affects the size of deposit rates by keeping them low as well.  Housing supply is low and demand is high, which has made sales prices rise significantly.  His prognosis for the future is that interest rates will increase due to inflationary pressures.  He believes the inflation rise is transitory, and will peak later this year and that supply chains will normalize over time.  In closing, he said that Central PA is a mecca and attractive to many as a place to live and work.  This bodes well for our future.

Mr. Nahodil responded to questions after speaking, and then signed the book on local geography for elementary students.

President Matt adjourned the meeting at 1:05 p.m.