The members clearly see that the new unavoidable $3 fee charged every month, simply for being a member, is wrong. How can the employees and Board of Directors say with a straight face that this fee is “mutually beneficial” as they claim? If it were mutually beneficial, the members would be happy, not irate. That the members do not view it as mutually beneficial, are angry and/or moving their money to other banks and credit unions, shows that it is not mutually beneficial and that Arizona FCU crossed the line. A bank or credit union should never charge an unavoidable fee simply for being a member! An unavoidable monthly fee, simply for being a member/customer, is inappropriate and a poor business decision. At Arizona Federal Credit Union, a member that only has a share savings account will still be charged $3 every month, which is $36 every year.
Steve Kelley, Senior Director of Marketing, aka Senior Mouthpiece and Chief Propagandist, tried to spin the outrage over the $3 monthly weasel fee as “minimal pushback” when interviewed by the Credit Union Journal. Apparently, he is not being honest or is not listening to the angry members sufficiently: