Category Archives: underserved
Who is most harmed by unavoidable monthly fees? The poor Assume an honest, hard-working, younger, poorer member, living paycheck-to-paycheck has $100 in their savings account and gets charged $3 in unavoidable membership fees per month, which is $36 per year, … Continue reading
Why is the $3 monthly weasel fee, which encourages the poor and young to leave Arizona FCU, a foolish short-sighted decision?
Why is the $3 monthly weasel fee, which encourages the poor and young to leave Arizona FCU, a foolish, short-sighted decision? 1 It is not ethically right, because it is intentionally discriminatory to the young and poor. 2 It is … Continue reading
What does it mean to be a member-owner of a credit union? Every member is an owner, and every member has 1 vote, regardless of balance size, account activity, or length of time one has been a member.
What does it mean to be a member-owner of a credit union? Every member is an owner, and every member has 1 vote, regardless of balance size, account activity, number of accounts, or length of time one has been a … Continue reading
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
People do not care so much if the financial institution where they keep their money is a bank, a credit union, or a savings and loan association. People do not care so much about the distinctions or definitions of what … Continue reading
Arizona Federal Credit Union’s Board of Directors are not properly representing the interests of members
BOARD OF DIRECTORS chair Kelvin D Smith vice-chair Monroe C Warren treasurer J.R. Pooler secretary Tom Burgess directors Timothy “Tim” Black, Cathleen Gleason, Roy Levenda SUPERVISORY COMMITTEE chair Libby Bissa members Jeffrey Barton, Christopher DeChant, William Greene former member Mary … Continue reading
Why are Credit Unions Tax Exempt? Does Arizona Federal Credit Union still deserve its tax exemption?
Arizona Federal Credit Union is kicking people of modest means to the curb with the out-of-line $3 monthly membership fee. Since Arizona FCU no longer wants to serve the poor, then why does Arizona FCU continue to deserve a tax-exemption? … Continue reading
In 2003, Ron Westad spoke about his personal values and beliefs. “It wasn’t a matter of how much could we make or how much could we charge members.”
In 2003, 10 years before the unavoidable $3 monthly weasel fee took effect, Ron Westad spoke about his personal values and beliefs. “It wasn’t a matter of how much could we make or how much could we charge members.” When … Continue reading
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
Do $3 monthly weasel fees produce mutually beneficial results for all members, or only the richest members?
https://www.arizonafederal.org/about/presidentsmessage 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 … Continue reading