Board of Directors

Chairman's Message

As trustees elected from among the membership, my fellow Board members and I are focused on conducting business that aligns with our cooperative's mission ... a mission that benefits all of Us. Take for example the mutually beneficial results of our loan underwriting process in 2013. These "member friendly" changes (originally started a year ago) further expanded our guidelines to meet the borrowing needs of more members, giving more of Us access to affordable financing.

By generating more loans, we increase the revenue the credit union receives. The impact of this increased revenue was felt at the end of 2013 when we returned $5 million in PLUs (Payback for Loyalty to Us) payments to members – 67 percent more than the year before. Receiving PLUs is a result of your contribution to the organization. While we can't guarantee future payments, all of Us can take actions to increase their likelihood through active participation.

Participation is more than just using your account. It also includes allowing the credit union to help when you have a need to borrow, review your insurance, purchase a car or plan for retirement. Using the credit union for these services adds to the cooperative financially. Similarly, the use of our self-service tools (e.g. mobile deposit, mobile apps, account access by phone) reduces costs to process transactions. In 2013, there was a seven percent increased use in one of these tools. Since its launch in 2012, mobile deposit has become the preferred deposit method for many. And overall, we had nearly 700,000 fewer transactions that required the assistance of an employee, meaning more of Us feel empowered to use our self-service tools – helping to reduce operating costs. The inevitable result: more left over to share through PLUs.

Finally, I extend my thanks to everyone who made 2013 another successful year. Thank you to our members, employees, and my fellow Board members. As members of our financial cooperative, we have joined a group people in pursuit of a common goal – to be in control of our personal finances. All of our contributions allowed us to maintain a financially strong credit union for a third year in a row.

On behalf of the Board of Directors of Arizona Federal Credit Union, I am pleased to present our 2013 Annual Report.

"It's incomparable being one of Us! "

Kelvin Smith
Board Chair


Arizona Federal Board members are volunteers elected by members of Arizona Federal.

Kelvin Smith
Roy Levenda
Vice Chairman
J.R. Pooler
Tom Burgess
Tim Black
Cathleen Gleason

Monroe Warren