Download 2012 Annual Report - Affinity Plus Federal Credit Union

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2012 Kyle L. Markland, President & CEO Affinity Plus’s mission is to make a difference in the lives of people by putting people first. We take that commitment seriously and I am honored you have trusted us with your financial goals. We recognize that the financial industry tends to generate mistrust and is oftentimes viewed as a place that just wants to make money—at the expense of customers. However, we choose to take the opposite stance—we are here to put people first, above profit. We focus on the significant events that happen in the lives of our members, such as buying a car, celebrating a birth, grieving a death, finding a first home, getting married, sending kids off to college and retiring. These events are significant, and it is when your goals surrounding them are achieved that we are successful. President’s report As a member of Affinity Plus, we hope you feel the difference when working with an organization that cares about you and wants to make a difference in your life. Our employees are empowered to make decisions in your best interest and ultimately do what’s right for you. Our unique business model caught the attention of Harvard Business School and as a result, several case studies have been written and published about Affinity Plus. Today, Harvard and other universities teach MBA classes using business cases on Affinity Plus as an example of an innovative way to run a business that is based on people, emotion and spirit. Recognizing that your goals are unique, we will continue to offer programs individualized to you that will save you money and help you achieve your goals. The Participation Rewards Program continues to help members save money and donate to charities. Over 5,900 members chose to reduce the rate of a current loan, and over 3,800 members increased the rate on their certificate to increase the interest they earn to nearly $494,000 more per year. Our members are very generous and redeemed points totaling $76,326 in donations to selected charities such as Second Harvest Heartland and Special Olympics. Additionally, we allowed our members to refund over $1.1 million in fees using Participation Rewards points. I am proud of our Ditch Your Bank campaign as it continues to empower consumers everywhere with the knowledge and confidence that there are better banking alternatives. As a result of this campaign and higher participation from our members overall, we experienced our highest level of new member growth in history. Simply by decreasing the annual cost of opening and maintaining a basic bank account, we’ve put an estimated $250 back into each new member’s pocket per year. What it comes down to is that you belong to an organization that at its core trusts and believes in people, wants to make a difference and values the uniqueness of each person. We believe in the goodness of people and we are here to make a difference—in the lives of our members and the communities we serve. We’re proud you have chosen Affinity Plus as your credit union and I am excited about what the future has in store for our members.
2012 Supervisory Committee The Supervisory Committee is made up of volunteer members of Affinity Plus who are responsible for safeguarding member assets through fair and accurate representation. The Committee is accountable for overseeing financial management practices and procedures, and the resulting decisions made on behalf of our members’ assets. report The Supervisory Committee meets monthly to review relevant information for its role. McGladrey LLP, provides internal audit information and assists the Committee in overseeing all areas of the organization to ensure compliance and operational performance. The Committee uses CliftonLarsonAllen, LLP to conduct quarterly regulatory compliance assessments and the annual financial statement audit. The Committee reviews information from the credit union’s Compliance Committee and Risk Management Committee monthly. The Supervisory Committee is confident the financial, compliance, and operational controls in place on behalf of Affinity Plus members are adequate to effectively monitor and respond to the safety of their interests. 2012 Supervisory Committee Members William S. Holloran, Chair Mike Tamte Margaret Egan Michelle Malott Matt Bryne
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