A message from our CEO, Kevin Brauer: Affinity Federal Credit Union remains focused on your financial well-being.
As a credit union, our number one priority is the financial security of our membership and your financial success and well-being. Our industry’s philosophy of people helping people was born out of the challenges of another tumultuous time in America—the Great Depression. And, for more than 85 years, Affinity has partnered closely with our members and the communities we serve, each and every day. During good times and bad—as a not-for-profit financial cooperative—we are focused on protecting and helping our members grow and achieve their dreams.
Proudly, I have been a credit union member and employee of the credit union industry for over 30 years. Over the last few days, I reflected on why and how credit unions act differently during such challenging times. Here are a few of the things that came to mind—both as a member and the CEO of Affinity:
- Member vs. shareholder: Affinity operates with the member, not a shareholder, in mind. Our decisions are through the lens of what the member needs and how we can support the well-being of the membership. Banks must satisfy shareholders first where credit unions satisfy their members first.
- Not-for-profit: As a not-for-profit financial cooperative, we maintain our balance sheet with reinvestment in the membership and communities in mind.
- Community impact: The impact we have as a partner in the communities we serve matters. Affinity’s mission and purpose is to forge a special place in the community; whether it be in close partnership with individuals, small businesses or local communities—like Madison, NJ (where we have a new branch slated for late spring)—we are here to help.
Affinity Federal Credit Union is well-diversified; member funds are protected in accordance with rigorously tested risk management protocols; we exceed the National Credit Union Administration’s (NCUA) definition of “well capitalized” and remain fully compliant with all NCUA regulations. We are prudent in our investment and credit decisions and follow a prescribed investment and risk management philosophy that assists in protecting your money.
On top of maintaining a safe and sound institution for members to place deposits, members have insurance on deposits up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF), providing additional protection and peace of mind to your deposits here at Affinity.
We appreciate your trust in us and take this responsibility very seriously. We will continue to provide you with relevant updates and news as the situation evolves.
Thank you for your continued partnership and membership.
President & CEO, Affinity Federal Credit Union
To learn more about how your deposits are insured and what the National Credit Union Share Insurance Fund is, please visit mycreditunion.gov.