Category Archives: profits and losses

Arizona Federal Credit Union – Mutually beneficial? For whom? Ronald L. Westad?

Arizona FCU says they paid out a $3 million bonus to a little over 77,000 members in December 2012. They also show they had Net Income, or earnings, of about $45 million, in 2012. There were almost 162,000 members as … Continue reading

Posted in angry members, principles, values, listening to members, profits and losses, Ronald L. Westad | Tagged , , , , , , , | Leave a comment

Arizona FCU propagandists are less than honest with members and journalists.

The mouthpiece of Arizona FCU, Steve Kelley, senior director of marketing, was recently quoted in the Credit Union Journal. http://www.cujournal.com/issues/17_14/arizona-federal-charging-3-dollar-monthly-membership-dues-1018585-1.html: “PHOENIX-Three months after instituting a $3 per month “membership dues” for members, the $1.2-billion Arizona Federal Credit Union said member … Continue reading

Posted in angry members, banks, principles, values, listening to members, profits and losses, Ronald L. Westad, underserved | Tagged , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments

What happened to Arizona Federal’s commitment to serving the young, the poor, the underserved?

Is Ronald Westad and Arizona Federal turning its back on the young, the poor, and the underserved in our community? How is this mutually beneficial to society? Is the $3 per month and $36 per year weasel fee the right … Continue reading

Posted in principles, values, listening to members, profits and losses, Ronald L. Westad, underserved | Tagged , , , , , , | Leave a comment

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 … Continue reading

Posted in comparison spreadsheet, principles, values, listening to members, profits and losses | Tagged , , , | Leave a comment

Arizona Federal’s performance the last 6 years has been terrible compared to the competition! Click green Excel icon to download, or lower right folder icon to view full size

Total assets are down 28% from year end 2007 to year end 2012. Yet unavoidable weasel fees are up from $0 per year in 2012 to $36 per year as of January 1, 2013. Why are members paying more but … Continue reading

Posted in comparison spreadsheet, competition, profits and losses | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Arizona Federal CU is changing its stripes to focus on the wealthy, not “people of small means” or the underserved, or the most disadvantaged people in their community. Yet, they trumpet how much they care about member-owners and the community.

Arizona FCU is changing its stripes to focus on the wealthy, not “people of small means” or the underserved, or the most disadvantaged people in their community. Yet, they trumpet how much they care about member-owners and the community. Are … Continue reading

Posted in principles, values, listening to members, profits and losses, underserved | Tagged , | Leave a comment

In 2008, it was “all about you, the member.” In 2013, it’s all about “us” rich fatcats.

In 2008, it was “all about you, the member.”  In 2013, it’s all about “us” rich fatcats.  Arizona Federal also stopped advertising free ID Theft Recovery Service they once offered to all members in 2008.  Now, to get ID Protect, all members must pay … Continue reading

Posted in angry members, principles, values, listening to members, profits and losses, Ronald L. Westad, underserved | Tagged , , , , , | Leave a comment

ASmarterChoice.org lists alternative credit unions in your area, that are nicer than Arizona Federal Credit Union

Credit unions are democratically owned.  Did the members have an opportunity to vote for this $36 annual fee for the so-called privilege of being a member?  NO!  To make it worse, they insult US with the so-called “Power of US,” … Continue reading

Posted in angry members, competition, profits and losses | Tagged , , , , , , , , , , , , , , , , , , , , , , | Leave a comment