Arizona Federal Credit Union’s Board of Directors are not properly representing the interests of members

chair Kelvin D Smith
vice-chair Monroe C Warren
treasurer J.R. Pooler
secretary Tom Burgess
directors Timothy “Tim” Black, Cathleen Gleason, Roy Levenda

chair Libby Bissa
members Jeffrey Barton, Christopher DeChant, William Greene
former member Mary Modelski

The Supervisory Committee is comprised of volunteers who are appointed by the Board of Directors to represent Arizona Federal’s members. The committee is responsible for ensuring that members’ funds and interests are protected at all times. To accomplish this goal, the Supervisory Committee performs several specific duties, including:
Ensuring that all policies and procedural guidelines are followed.

As we move ahead, it’s important that we make sure that we’re all focused on what must be our common goal: creating and maintaining a strong financial cooperative. To this end, our Board of Directors and staff recently put pen to paper to craft a new mission statement that effectively captures the essence of what we’re all about:

“Our mission is to develop and serve an empowered membership through the delivery of financial services and expertise, producing mutually beneficial results.”
“Concern for Community
While focusing on member needs, cooperatives work for the sustainable development of their communities.”

The disenchanted member-owners of Arizona FCU want to know:
1 If the policy is to be mutually beneficial, then why was a fee structure enacted that was targeted to intentionally drive off the poorest members? Are they not also members? Who is looking out for their interests?
2 If the unavoidable $3 fee, which is involuntarily removed from the wallets of members every month, focuses on member needs and is mutually beneficial, then why are so many members outraged?
3 How can you honesty say something is mutually beneficial when the members do not share that sentiment? The fact that so many members are irate proves that the $3 monthly membership fee is inherently not mutually beneficial. If it were mutually beneficial, the members would be overjoyed, not outraged.
4 When and why did Arizona Federal Credit Union stop caring about the poor, underserved, and those of modest means? How is that sustainable for the communities?
5 How does an unavoidable monthly fee, disguised as “dues” protect a member’s finances when they are $3 poorer every month?
6 How many of the members asked for a $3 monthly fee before it was enacted?
7 Isn’t the new fee-gouging structure wholly inconsistent with the proclaimed guidelines?
8 How is focusing on short-term profitability by intentionally running off the poorer and younger members good for the long-term success of the community and credit union?
9 Do the richest members or poorest members benefit the most from this unavoidable weasel fee?
10 Where is the duty of care to members?
11 Ronald L. Westad – President/CEO, like other members, pays the $3 monthly membership fee. How much did Ronald L. Westad receive as his so-called “Payback for Loyalty to Us” on December 31, 2012? How much is he personally benefitting from this new program compared to the average member, many of which received no payback at all for their loyalty?

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 angry members, principles, values, listening to members, underserved and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink.

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