Learn more about our cooperative.

President's Message

Photo of Ronald L. Westad

Second Quarter 2019

As a member of Arizona Federal Credit Union, I trust you’ve found value in the changes we’ve made in 2019. The most notable being the elimination of monthly membership dues and establishment of our Checking Plus Account that has no monthly fee when you complete just 10 debit card purchase transactions per month.

These changes are a function of member engagement and participation, and the related high degree of our financial safety and soundness.

These changes also reflect greater value for your membership and reduced “friction,” with a longer-term objective of offering additional individualized financial service solutions/options. While our existing offerings provide great value and convenience to our 125,000+ members, we’ll continue our practice of researching and developing new products and services to meet your financial needs. You can expect more changes ahead as we look to expand our menu of financial service options.

One thing that isn’t changing is our commitment to share any surplus capital/earnings (Plus Payouts) with our participating member-owners (you!). Any distribution of surplus capital is based on your level of participation with your financial cooperative. We’ve made it simpler to be eligible for a payout in 2019 – all that’s required is a Checking Plus Account. Since payouts most likely will be in the forms of bonus dividends and loan interest refunds, you can maximize your Plus Payout by turning to Arizona Federal first when you have a lending need or are looking for a safe place to keep your savings, IRAs and emergency funds.

The aforementioned changes, future innovations, and our ongoing commitment to the seven principles of a cooperative serve as a testament to the care and commitment of our trustees – those you elect to serve as members of our Board of Directors. As another election cycle recently closed, I’d like to acknowledge and extend my thanks and gratitude to our volunteer Board of Directors for their service. We congratulate Libby Bissa, Bill Greene and Kelvin Smith for their re-election to the Board. Their responsibilities include ensuring positive financial results, appropriate enterprise risk management, regulatory compliance, and value creation on behalf of the membership.

As always, thank you for your membership and active participation in your credit union. We recognize that by joining together in our financial cooperative business model, all of us are more empowered to take control of our finances and reach our goals. Please let us know how we can help you reach your goals and turn your financial dreams into reality.


Ronald L. Westad
President and Chief Executive Officer

Connect with us