Arizona Federal, you don’t shrink your way to greatness! Click the green Excel icon to download, or the folder icon to enlarge.

Less members are being served, less assets are under management, while profits are at record highs, employment compensation at record highs, so why is instituting $3 monthly weasel fees necessary? Do the executives need bigger compensation packages, funded at the expense of the member-owners?

Are credit unions democratically structured with 1 member getting 1 vote? Did the members vote to tax themselves with these unprecedented weasel fees? Of course not! This seems like a wealth transfer from member-owners to employee pockets and bonus pools. The board of directors and management are not properly representing the member-owners. The employees and Board of Directors should be working for the members, not against them. The employees and Board of Directors should be trying to enrich the members, not pick their pockets with $3 monthly fees.

This is pitiful and must be stopped.

About Arizona Federal Credit Union Members United

Arizona Federal Credit Union Members United is a group of over 100 members and former members who care about our credit union being run fairly. The leadership of the credit union has failed to represent us properly by enacting a new and unnecessary, unavoidable, unconscionable, $3 monthly membership fee that we did not want. The members did not ask for this. Before implementing such a counter-productive fee, the proposal should have been put up for a vote to all the members to decide, so the will of the people is followed. The member-owners of Arizona FCU should not be taxed $3 monthly, simply for being a member. We want all the $3 monthly member fees refunded to all current and past members, the elimination of the fee going forward, and the elimination of the $25 rejoining fee. We are against any financial institution charging an unavoidable ongoing membership fee, simply for being a member. This is the wrong approach. Members and customers should be valued, not punished. We want to see Arizona FCU succeed, not fail. Imposing unfair policies that are detrimental to the long-run success of the credit union and detrimental to society should be abolished.
This entry was posted in comparison spreadsheet, principles, values, listening to members, profits and losses and tagged , , , . Bookmark the permalink.

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