Call it a ham sandwich if you want, but member-owners know its still a fee since $3 leaves our accounts every month.
Sure, Arizona Federal Credit Union is trying to pull the wool over the eyes of members by attempting to spin the $3 monthly fees as “member participation dues.” The member-owners see this for what it is, a fee, a tax, a theft of their own money. Call it a ham sandwich if you want, but the members still know $3 moving out of their accounts every month, on the 5th of the month, is simply wrong.
An account with $36 or less with be fee’d to death within 12 months, at a burn rate of $3 per month. The new fee structure is not a way to serve people of modest means. It’s clearly a way to run them off. How is that serving the community or good for society?
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.