Arizona Federal executives and board of directors seem to be oblivious to the will of the people
At the next annual meeting, how many members will show the necessary courage, intelligence, and leadership to express their outrage to management, the Board of Directors, and the Supervisory Committee? Do enough member-owners of Arizona Federal realize each member-owner has 1 vote, and is an equal owner in the credit union? Do enough of the 100,000+ member-owners understand that since they are the owners of the credit union, they greatly outnumber the approximately 400 employees. Do the member-owners understand that some employees may be salivating at the thought of an almost $6 million increase in fee income, generated as a result of the $3 monthly fees slapped on every member? Do enough of the member-owners understand that the employees should be working for the credit union member-owners, not against them?
“Let them eat cake” is the traditional translation of the French phrase “Qu’ils mangent de la brioche”, supposedly spoken by “a great princess” upon learning that the peasants had no bread. Since brioche was enriched with butter and eggs, as opposed to ordinary bread, the quote supposedly would reflect the princess’s obliviousness as to the condition of the people.
Similarly, management of Arizona Federal is oblivious to the needs of its citizens, the 100,000+ strong ranks of member-owners of the credit union.
Is this what management is thinking?
“Let them eat cake, because we will make all members contribute even more, to juice our fee income, whether they want to partake in additional services or not, as we laugh all the way to the bank.”