Affinity Credit Union Des Moines Ia – The cooperative spirit is a real financial strength. This is a passion where small companies can make a big impact. Affinity Credit Union in Des Moines, IA is a practical example of this effort.
Its annual meeting was established in 1949 as a celebration with members, although needed work supplies were provided.
Affinity Credit Union Des Moines Ia
When members came to the meeting, they were given a 10-page annual report with 14 topics; board “oaths” and biographies; committee reports; 2022 Fund: and images showing Affinity’s role in society.
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Each report includes two raffle tickets for the post-meeting drawing for cash prizes. Speeches were made to kick off the event and attendees were treated to a complimentary buffet dinner before business began.
I spoke with members who joined in 1963 and an elderly couple who retired from the state government just two years ago. Many families brought their children. A member brought the date even though he is not a member yet.
Outside commentators had mixed reactions to Affinity’s impact. Michelle Bock, President of the Food Bank of Iowa, highlighted the issue of food insecurity, which affects 10% of Iowans each year. Affinity’s CEO, Jim Dean, sits on the bank’s board of directors.
Katie Averill, director of Iowa credit unions, emphasized the strength of the Iowa system in the wake of major financial failures. Of Iowa’s 80 credit unions with $33 billion in assets, 72 are state-approved, accounting for 97% of the state’s total. The system has experienced double-digit growth in the last five years.
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The five Iowa charters have assets of more than a billion dollars. The $145 million bond ranks 22nd. Averill outlined Affinity’s evolution since 1949, when it incorporated as USW Local 301. Legislative actions included FOM expansion, reform reputation, and consolidation thanks to the credit union’s long-standing position in the community. .
Respect for landowners was clearly evident when the chairman opened the meeting to members’ comments on new topics. Many questions came from the hall. Some are cheap; Will free movie tickets start again? The report presented to each participant shows a number of significant unrealized financial losses on investments and loss reserves for loans. All answered.
At the meeting’s reception desk, the credit union’s past history is displayed in a display case. The lunch pail used to collect and donate money while walking around the Firestone Inn in the early years included the opening message: “Here is a staff-created resource for the workers who will feed and depend on families in the future.”
A short video presentation by long-time member James Reasoner will be shown. It is clearly recovering financially after a near-bankruptcy two decades ago. He was also one of four members elected to the council that evening.
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Pride can be seen in the physical presence of the credit union. The headquarters is located less than a half-mile from the Firestone plant. Photos of the Firestone building hang in renovated offices surrounded by landscaped gardens.
The board’s “promise” begins with employee training. Wednesday mornings are the last opening that includes education. At the ceremony, awards were given to three employees who have worked at the credit union for more than 25 years. Misty was the one helping new board member James Reasoner in the video from twenty years ago.
“Enriching our communities” is another promise from the board. 6 senior students from various high schools were given scholarships to continue their education. Here it is.
The four board members elected at this meeting have leadership roles in their professional lives. James Reasoner’s talk is in the video link above. Bridget Neely is the CEO of Big Brothers, Big Sisters of Central Iowa. Cara Harris is the operations coordinator for Cortiva Agriscience in Johnston, Iowa.
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Webster Kranto is a small business owner born in Liberia. It takes three years for a refugee to enter the United States. BT. from Iowa State University, where he graduated. In 2019, he was appointed by the governor to the Iowa Department of Corrections for a 4-year term.
The two board members have been with Firestone for 22 and 23 years, respectively. Both are members of USW Local 301L. Board Chair Cindi Summers is Senior HR Manager at The Baker Group. She earned a master’s degree and a bachelor’s degree in business administration. Management and A.S. For legal work.
Christian Quijano, Vice President, works in Environmental Risk Management and was Chairman of the Iowa Board of Environmental Professionals from 2012-2018.
Leadership positions begin with the swearing in of all directors at the annual meeting. They stand up and face the members, promising to “be loyal, honest and not neglect the duties assigned to them.”
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The board’s most important role is to select the CEO. Jim Dean comes to the credit union after a long career in various leadership roles at Illinois. He embodied the credit union’s vision of “creating better lives” by showing how small can have a big impact: “small but mighty.” He launched a lawsuit against restrictions on Apple Pay and participated in a program to borrow $10 billion to make it easier for low-income residents in Iowa to own a home.
He asked me to come to a meeting to learn about the credit union. I have seen great dedication to solving the financial challenges of members, from those in high school to those who are retired. More than 50% of the 13,786 members live in low-income areas. A credit union teaches its members the basics of saving and borrowing so they have the skills to manage the economy.
Jim’s vision for success is more than increasing the number of financial transactions. He brought together the credit union’s financial resources and partners to support the health and well-being of the community. The Iowa Food Bank is just one example of this assistance.
Together with the board, he instilled the development of sustainable values and principles. This special cooperative spirit can spread success forever beyond the generations that have lived and continue to live. It highlights the principles that created the credit union. It gave new meaning to the organization’s founders’ mission of “nurturing families, futures and trust.”
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Jim believes the greatest benefit of a credit union is member loyalty. It’s not about size, it’s about service. The one-dimensional criterion is sufficient to protect members.
Jim, who decided to end Saturday branch hours due to low transaction volume, called on every member who actually uses the service to inform them about the change and other transaction options.
When I spoke at the annual meeting, I said that the most valuable resource we all have is our time. That evening, members spent several hours learning about the credit union and joining for another year.
It is my hope that each member-participant will expand their volunteer ownership opportunities and participate in promotion, service and financial support for the credit union’s mission.
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Affinity’s decision is driven and driven by community leaders. Volunteers and professional staff demonstrate the power of member democracy. The spirit of collaboration allows members to serve the financial needs of others rather than their own.
This relationship is an example of what other union leaders do to help members get what they want. Their teams invest time, energy, and resources to support their members’ aspirations and contribute to each other.
As leaders identify members’ needs and dreams, they become vulnerable in making decisions. The impact of their support and efforts is immeasurable. Because members are the foundation of a credit union’s strength.
Affinity holders love what they do, who they work for, and who they work for. A higher standard for life or work?
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Collaborative design is unique. Provides a unique focus on member value. The relationship between members is the foundation of the life of the credit union. Increasing membership participation in credit unions is critical to maintaining a viable service option for consumers.
This blog will share my interest and insights into consumer collaboration in the American economy. I emphasize the responsibility of all participants in the credit union system to enhance the legacy of our shared wealth passed on to future generations.
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When the Firestone plant in Des Moines, Iowa, decided to close its doors for the first two weeks on March 22 to prevent the spread of the coronavirus, there was a realization among the CEO of Affinity Credit Union ($122 million, Des Moines, IA). Jim Dean says there are other ways to help members who are in trouble. The closure of the credit union’s original SEG group, which has been ongoing since mid-April, has reportedly affected nearly all members, with many leaving.
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