Tag Archives: fees

Why are unavoidable monthly fees harmful to members, credit unions, and society?

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

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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

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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

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The main issue is the unavoidable monthly $3 fee, which must be eliminated

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

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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

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Arizona Federal Credit Union fees and rates are extremely uncompetitive. Arizona FCU is not a smarter choice.

Arizona Federal Credit Union pays extremely low, uncompetitive rates on its share savings account, only 0.01%. Once you factor in the unavoidable $3 monthly weasel fees, which come to $36 in yearly fees, you could suffer a huge negative return. … Continue reading

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Arizona Federal Credit Union has some of the highest, most excessive fees. Click the green Excel icon to download, or the folder icon to enlarge.

Are these high and excessive fees to feed the hungry bankers eating like pigs? A credit union should not be acting like a bank with excessive fees. A credit union should be trying to help members save, not trying to … Continue reading

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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

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