Month: October 2021

Proposed IRS Reporting Requirements

The Biden Administration is proposing that all financial institutions be required to report annual information returns to the IRS on the inflows and outflows of all business and personal accounts totaling over $600 in a given year.  If this passes, America First would be required to comply.  The credit union is opposed to this, and we are currently working with our Congressmen and Senators in Washington to express our concerns.

“We don’t trust anyone with our members’ sensitive information”, said Thayne Shaffer, president and chief executive officer at America First Credit Union.  “America First is opposed to being compelled to act as an enforcement arm of the IRS.  Our credit union, board leadership, and industry representatives are acting in the best interest of our members and have communicated this clearly and directly with our elected officials.”

The reconciliation bill has not been finalized and there is discussion of changing the initial proposal of $600 to $10,000.  Changing the dollar amount is not the answer.  This proposal of reporting is a major concern for consumer privacy and must be excluded in its entirety from the Build Back Better Act (BBBA).

Please visit the CUNA Grassroots Action Center for information on how you can contact your Federal Delegation.

First-Ever Credit Card Supporting Startups To Roll Out at Silicon Slopes Summit

America First Credit Union credit card allows customers to support startup tech companies

SALT LAKE CITY – October 12, 2021 – America First Credit Union is offering a groundbreaking approach to empowering entrepreneurs. Members are now able to support startup local technology companies and innovators with the Silicon Slopes Visa® credit card, which will be rolled out at the upcoming Silicon Slopes Summit Oct. 13 and 14 in Salt Lake City.

“The first-of-its-kind credit card is a unique way for members to contribute to the local community,” said Thayne Shaffer, president and CEO of America First Credit Union. “With the Silicon Slopes Startup Alliance Fund, we hope to empower entrepreneurs in the tech and startup communities here in Utah. We’re excited to be able to help this growing and thriving community right here in our backyard.”

In addition to giving cash back to its customers for purchases, the credit card also helps members contribute to Utah’s startup and tech community. Users get a 1% cash back on every purchase, and America First will contribute an additional 0.5% of each purchase to the Silicon Slopes Startup Alliance Fund. In addition, 100% of the credit card’s $50 annual fee will be contributed to the fund, helping expand tech opportunities across the state of Utah.

Each of these contributions provide funding to the entire local tech community with cash back to the consumers and contributions to the startup community. Funds contributed to the Silicon Slopes Startup Alliance Fund will be distributed annually and will enable entrepreneurs to pursue their innovative goals. Interested entrepreneurs will have the opportunity to pitch their business idea to a panel of Silicon Slopes and America First Credit Union judges to be awarded from the fund. Details about the distribution of the fund will be announced down the line.

Benefits offered by the Silicon Slopes Visa® credit card include:

  • Card Guard® mobile security
  • Identity theft recovery services
  • EMV chip technology
  • Travel and accident insurance
  • Global acceptance

Silicon Slopes Summit attendees can learn more about the card by visiting America First Credit Union’s booth and can enter to win two $500 gift cards.

Find more information or sign up for this unique credit card here.

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ABOUT AMERICA FIRST CREDIT UNION

Proudly celebrating 82 years of servicing members and a long-standing history, America First Credit Union has become one of the largest, most stable and most progressive credit unions in the country, and has remained a member-owned, not-for-profit cooperative financial institution. Today, America First has 120 locations, and is the eighth largest credit union in assets in the United States with over $16 billion, and the fifth largest credit union in membership in America with more than 1.2 million members.

MEDIA CONTACTS:

Nicole Cypers
America First Credit Union
801.827.8655
ncypers@americafirst.com

Kelsey Richardson
R&R Partners
801.913.9454
Kelsey.richardson@rrpartners.com

America First Credit Union Selected as Exclusive Corporate Partner of the Utah Jazz

America First Credit Union Selected as Exclusive Corporate Partner of the Utah Jazz

 
America First to Offer an Exclusive Co-Branded Debit Card, Focus on Small Business Showcase, Junior Jazz Youth Program, and a Combined Community Initiative Program in its Sponsorship
 
Utah Jazz & America First Credit Union signingSALT LAKE CITY (October 11, 2021) – The Utah Jazz and America First Credit Union announced today an exclusive, multi-year partnership, naming America First as the Official Credit Union of the Utah Jazz. The largest credit union in Utah, America First has been selected by the Jazz as the only corporate partner in its consumer category.

“The Jazz are thrilled to be aligned exclusively with America First Credit Union due to its long-standing presence in our state, its sense of service to the community through countless charitable endeavors, and its desire to help people achieve their dreams,” said Jazz President Jim Olson. “These admirable qualities are what we jointly strive for in our organizations in hopes of making a difference in people’s lives.”

“We’re elated to expand our involvement with the Jazz and provide value to our members and enhance our communities through this partnership,” said Thayne Shaffer, America First President and CEO. “We’ll continue to invest in our community and organizations that support and assist those in our community to power forward on their financial journey.”

America First Union Credit, which has been affiliated with the Jazz since 1985, will have an expanded relationship with the franchise, including digital and traditional branding at Vivint Arena, activations during Jazz games, affiliations with the NBA G League Salt Lake City Stars and other sporting events. The two organizations will also work together on various community outreach initiatives throughout the state of Utah.

America First will continue to welcome guests into the home of the Utah Jazz with signage in the grand entryway, atrium, box office, and porch area overlooking the court. A co-branded debit card will provide member benefits, including discounted tickets, concessions, merchandise, and special access to events. Whether buying tickets for a Jazz game, gear at the Utah Jazz Team Store, or favorite game time food and beverage, this card will be a fast and secure way to make a payment.

America First will continue as a presenting sponsor of Junior Jazz, the largest and longest-running youth basketball league in the NBA, featuring more than 60,000 participants as well as supporting the Jazz Youth Camps & Clinics program. America First will also team up with the Jazz to expand its Small Business Showcase with financial and marketing support.

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ABOUT THE UTAH JAZZ

Founded as the 18th member of the National Basketball Association (NBA) in 1974, and located in Salt Lake City since 1979, the Utah Jazz are committed to excellence as a team and in the community. On the court, the Jazz are the second-winningest team in the NBA over the last 30 years, having won nine division titles and two Western Conference championships along with 17 seasons of 50-plus wins, and are supported by one of the most passionate fan bases in all of sports. The Utah Jazz also operate the Junior Jazz program, the largest and longest-running youth basketball league in the NBA, featuring more than 60,000 players and an additional 13,000 volunteers who take part annually across six states. For more information on the Utah Jazz, visit www.utahjazz.com.

ABOUT AMERICA FIRST CREDIT UNION

Proudly celebrating 82 years of servicing members and a long-standing history, America First Credit Union has become one of the largest, most stable and most progressive credits unions in the country, and has remained a member-owned, not-for-profit cooperative financial institution. Today, America First has 120 locations, and is the eighth largest credit union in assets in the United States with over $16 billion, and the fifth largest credit union membership in America with more than 1.2 million members. Learn more at www.americafirst.com.

MEDIA CONTACT:

Nicole Cypers
America First Credit Union
801.827.8655
ncypers@americafirst.com

Frank Zang
Utah Jazz
801.325.2570
frank.zang@utahjazz.com

#AFCUJazz #TakeNote

Celebrating Those Who Lift Our Communities

Thayne Shaffer
Thayne Schaffer – President/CEO
By Thayne Shaffer, President and Chief Executive Officer

Recently, I had the opportunity to participate in an event sponsored jointly by America First and the Las Vegas Raiders at the stunning new Allegiant Stadium. The gathering was held to recognize the finalists in the inaugural Raiders Small Business Showcase Presented by America First Credit Union, which highlights outstanding contributions to our communities by small businesses.

Over the course of the evening, I was able to speak with many impressive small business owners and see the sizable and varied impact they have on their communities. This year’s grand-prize winner was Felicia Parker, the owner of Any Occasion Baskets. Despite abruptly losing a majority of her business when the pandemic struck, Felicia and Any Occasion Baskets decided to utilize the business to buoy others where they could and give back to the community and people they serve. During the interruption, Felicia began providing gift baskets to first responders, healthcare providers, and other front-line workers who were laboring under intense pressure to help others make it through the crisis. I was profoundly touched by her story and thrilled to be a part of honoring her efforts.

As the showcase’s winner, Felicia and her business were awarded a single-season sponsorship with the Raiders worth more than $100,000, which includes signage inside Allegiant Stadium during Raiders home games, professionally produced radio spots, and digital promotions across Raiders.com and the Raiders mobile app. I’m proud of America First’s support of small businesses and appreciate working with a partner as influential as the Las Vegas Raiders to help showcase these small but integral organizations.

October is National Women’s Small Business Month, and I couldn’t let it pass without taking the chance to recognize and celebrate the female entrepreneurs and women-owned and -led businesses that are such a vital part of our economy and communities. At the heart of just about every thriving community in our country, you’ll find at least two essential elements: strong women and strong small businesses. So many of the women who own and operate small businesses share their passion, perspectives, and leadership, and as they do, they elevate everyone and everything around them to greater heights and new opportunities.

When I started working at America First in 1987, only 22% of small businesses in the United States were owned by women. However, in the 34 years since, that number has nearly doubled, and the rate at which women are starting new businesses is twice that of the national average of all businesses being started.

I hope that during this month and beyond, you’ll join me in supporting women’s small businesses. One of the best ways you can do that is by buying the products and services those businesses offer and then sharing your positive experience with others, especially through your favorite social media platforms. And if you own, operate, or are thinking about starting a small business, our expert Business Services team would love to help you take advantage of the many great resources that are available to small and women-owned businesses. My sincerest thanks to all of the women who build and inspire our communities, and to each one of you for being a member of this wonderful union of families, neighbors, coworkers, businesses, and friends.