America First Newsroom

Guest Commentary: Harnessing the Benefits of Economic Growth

By Glen Olpin, Senior Vice President and Chief Economist

The nation’s ongoing fiscal recovery has become the longest-running period of American economic growth on record. January was the 127^th month of expansion since the Great Recession concluded, far surpassing the previous mark. However, it is also notable that the pace of improvement is the slowest in history.

Consumers are leading the way, as our collective confidence is at an all-time high; many are comfortable with increasing their spending and debt levels. Personal income is up from last year, while inflation risk and U.S. unemployment remain low. Utah and Idaho enjoy robust employment, while the jobless rates in Nevada and Arizona inched only slightly higher.

Home prices across the country continue on an upward trajectory, but it is not quite as rapid. For the first time in many years, personal incomes are moderately outpacing housing costs. Western states are seeing home prices surge at a rate higher than the national average.

Auto sales slowed only modestly in 2019, with on-and-off downturns projected to extend into 2020. Overall, though, sales are expected to remain robust. Business production and capital expenditures are decreasing, while positive news regarding the resolution of trade disagreements could boost the economy and investment markets.

Overall U.S. economic strength, as measured by real gross domestic product, has been moderating. The yield curve, inverted for a short period during late summer last year, added to worries about future growth. We can expect election-year politics to generate further concerns as well.

What does this mean for America First in 2020?

Our credit union is, without question, financially strong and well capitalized
Economic slowdowns are uncomfortable, but the durability of our local economies can guard against negative national trends
As economic volatility persists, expect higher unemployment
Savings should grow, as members improve personal financial balance sheets
Competitive consumer borrowing will be available
Expect lower rates, especially in the short-term
Improved affordability, along with lower mortgage rates, will provide home-buying & refinancing opportunities

On balance, 2019 proved positive for the credit union and our valued members. Although some weakening signals appear in the forecast, we expect to manage any economic fluctuations and continue delivering the benefits you’ve earned.

During my career, I was privileged to witness and personally participate in the tremendous growth and success of America First, founded in 1939 on the principles of service, sharing resources, and members working alongside one another to achieve financial health. Going forward into the next 80 years, we remain committed to these same ideals, providing high-quality, competitive, convenient, safe and professional services to those who choose membership in our credit union.

Editor’s note: Glen retired in January 2020 after 44 years of service to America First Credit Union members.

America First Credit Union Cut Ribbon on Second Idaho Branch in Rexburg

Rexburg, ID – [January 28, 2020] – America First Credit Union (AFCU) celebrated the opening of a new branch in Rexburg with a ribbon cutting ceremony on Friday, January 24. The member-owned credit union is doubling its footprint in the state with its other branch located in Boise. The new branch, which opened on Dec. 16, is located at 510 N 2nd E in Rexburg.

The leading, not-for-profit cooperative financial institution branch is managed by Andrew Hadlock who has been part of the AFCU team for three years as a teller, loan officer, lead teller and assistant manager.

“I love helping people work toward and meet their financial goals and better their financial well-being,” said Hadlock. “I’m excited to be able to work with the community of Rexburg.”

The full-service, 1,353-square-foot branch includes two teller stations, two loan office stations, a branch self-service kiosk and an external ATM on the front of the branch. The branch will be open Monday to Friday from 9 a.m. to 6 p.m. and closed Saturday and Sunday.

Photo: The 1,353-square-foot branch is AFCU’s second location in Idaho.

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ABOUT AMERICA FIRST CREDIT UNION

Proudly celebrating 80 years of servicing members and a long-standing history, America First 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 131 locations, and is the ninth largest credit union in assets in the United States with over $11.7 billion, and the sixth largest credit union in membership in America with more than 1,071,000 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

Volunteers Dedicated to Serving Members

In accordance with America First bylaws, the Board of Directors Nominations Committee has identified four members who will stand for election by acclamation at the credit union’s Annual Meeting on April 21, 2020.

After thorough interviews and qualification screenings, the incumbent Board candidates are:

Linda K. Carver
David M. McKonkie
Gil A. Miller
James G. Wendler

Please join us in congratulating these volunteers, who selflessly give of their time, talent, expertise and experience to enhance the financial well-being of America First members.

America First Credit Union Announces Extended Partnership with Real Salt Lake

AFCU Becomes Official Credit Union of Real Salt Lake, Utah Royals FC and Rio Tinto Stadium

OGDEN, Utah – (Tuesday, January 14, 2020) – America First Credit Union (AFCU) is proud to announce a long-term extension to its partnership with Real Salt Lake. With the extension, America First Credit Union will become the Official Credit Union of Real Salt Lake, Utah Royals FC and Rio Tinto Stadium, and will also have a significant partnership with the 2019 USL Championship title-winning Real Monarchs and the RSL Youth Development Academy.

The partnership extension will provide more exclusive America First Credit Union member-only benefits and connectivity with fans, and generate deeper, stronger and better market-wide promotions – including AFCU/Real Salt Lake and AFCU/Utah Royals FC co-branded credit and debit cards. Building on a long-standing partnership between the club and AFCU that has seen numerous activations at Rio Tinto Stadium, including in the America First Credit Union Pavilion, the two Utah community leaders will now extend their relationship to include promotions with the America First Charitable Foundation and the RSL Youth Development Academy.

“America First Credit Union is always looking for ways to provide value to our members and enhance our communities and we’re thankful to be able to provide that through our partnership with Real Salt Lake,” said John B. Lund, AFCU President and CEO. “We’ll continue to invest in community members and organizations that support and inspire those in our community to secure their goals, both literally and financially.”

“America First Credit Union has long been a valued partner with Real Salt Lake and this extension and commitment not only broadens the spectrum of the relationship to include a wider array of activation possibilities, but also provides a much deeper connection between the RSL organization and AFCU,” Real Salt Lake Chief Business Officer Andrew Carroll said. “America First Credit Union and its members have made a tremendous commitment in support of Utah’s soccer community for all men, women, boys and girls, which further demonstrates their special and comprehensive commitment to Utah’s community overall.”

Real Salt Lake finished the 2019 season third in the Western Conference at 16-13-5 (53 points) and advanced to the Western Conference Semifinals for the second consecutive season. RSL will open the 2020 season on the road against Orlando City SC on February 29 before returning to Rio Tinto Stadium for the home opener against the New York Red Bulls on Saturday, March 7, at 12 p.m. MT.

About America First Credit Union
Proudly celebrating 80 years of servicing members and a long-standing history, America First 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 131 locations, and is the ninth largest credit union in assets in the United States with over $11.7 billion, and the sixth largest credit union in membership in America with more than 1,071,000 members.

About Real Salt Lake
Real Salt Lake has been a staple in Utah communities since the club’s inaugural season in 2005. Winners of the 2009 MLS Cup, RSL continues to impress on and off the field under Owner Dell Loy Hansen, regularly filling Rio Tinto Stadium in Sandy and expanding into the inclusion of Utah Royals FC in the NWSL and Real Monarchs in the USL Championship.

Volunteer Service Highlights Annual Meeting

In accordance with America First Credit Union bylaws, four members will be elected to three-year terms on our Board of Directors at the Annual Meeting. It is scheduled for 7 p.m. on April 21, 2020 at the David S. Eccles Conference Center in Ogden, Utah. Incumbent volunteers, who serve without compensation, are:

Linda K. Carver | Gil A. Miller | James G. Wendler | David M. McConkie

Those interested in becoming directors must meet the following minimum standards:

Membership in good standing
Legal age (18 years or older)
Bondable
Free from any conflicts of interest
Available for all Board of Directors, Committee, and other designated meetings unless excused

Please submit your application and resume to the America First Nominations Committee by 5 p.m. on January 10, 2020. You can complete the process online here.

Nominations by petition are also accepted and must include qualification statements, documents attested to by 500 fellow America First members, and a signed certificate from the nominee stating he or she is agreeable to the process and will serve if elected. Petition applications, which can be completed here, must be received by 5 p.m., February 28, 2020. Nominations are not accepted from the floor at the meeting.

The Principles that Lead to Longevity

By John B. Lund, President and Chief Executive Officer

My maternal grandmother lived to be 102, having been born in 1898 and passing away in 2000. Reaching the age of over a century is quite an accomplishment and demonstration in perseverance. Perhaps what interests me most about her amazing life, however, is that she experienced firsthand the entire 1900s.

It’s extraordinary to think of the world’s development during her lifetime. She was there for the first automobiles, airplanes, radios, televisions and more. She ultimately witnessed space travel and men landing on the moon. She experienced years when tremendous advances in medicine were made, when cures for terrible diseases were found, and when technological innovations including the internet were realized.

On one occasion, I asked my grandmother what she felt may have attributed to her longevity. Without hesitation, she responded, “If you need to shed a tear, shed it and then get on with life and don’t worry about things you can’t control.”

She did not have an easy time, losing her husband at a young age and going through tremendous economic hardships. She battled breast cancer and bravely faced numerous personal and family challenges.

When I think of her attitude and wisdom, I am truly grateful for her legacy and am encouraged about the future as we move forward in a new decade. It is a time when many of us make resolutions and commitments for the months to come. As I set my own goals for 2020, I will strive always to take my grandmother’s advice to heart.

The past year proved to be one of strength and solid performance for the credit union. We celebrated our 80^th anniversary and achieved the significant milestone of surpassing one million members. We are grateful for your business, loyalty, and remain dedicated to providing each of you with the personal attention you deserve, as well as the finest products & services you need.

Our mission is to help simplify and improve the financial portion of your life, minimize stress, and strengthen a lasting partnership that benefits you and your family.

America First Credit Union Opens Second Idaho Branch in Rexburg

FOR IMMEDIATE RELEASE

America First Credit Union Opens Second Idaho Branch in Rexburg

Rexburg, ID – December 16, 2019 – America First Credit Union (AFCU) is celebrating the opening of a new branch in Idaho on Monday with a new location in Rexburg. The member-owned credit union is doubling its footprint in the state with its other branch located in Boise. The new branch, opening on Dec. 16, is located at 510 N 2nd E in Rexburg.

The leading, not-for-profit cooperative financial institution branch will be managed by Andrew Hadlock who has been part of the AFCU team for three years as a teller, loan officer, lead teller and assistant manager.

“I love helping people work toward and meet their financial goals and better their financial well-being,” said Hadlock. “I’m excited to be able to work with the community of Rexburg.”

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ABOUT AMERICA FIRST CREDIT UNION

Proudly celebrating 80 years of servicing members and a long-standing history, America First 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 131 locations, and is the ninth largest credit union in assets in the United States with over $11.5 billion, and the sixth largest credit union in membership in America with more than 1,062,000 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

Nonprofits Receive $110,000 in Donations from America First Credit Union to Make Impact on Local Communities

For Immediate Release
December 12, 2019

Nonprofits Receive $110,000 in Donations from America First Credit Union to Make Impact on Local Communities

Riverdale, Utah – To uplift the communities in which America First Credit Union (AFCU) is invested, the group donated $110,000 to 11 nonprofits serving Utah and Southern Nevada. As part of the credit union’s Community Assistance Program (CAP), the credit union recognized each of the nonprofits at an annual event celebrating nonprofits.

During the event, each organization was presented with a $10,000 check, which they will use to further their respective missions. The local nonprofits recognized include: Cathedral of Madeleine Good Samaritan Program, Catholic Community Services Joyce Hansen Hall Food Bank, Christmas Box International, Food & Care Coalition, For the Kids, Safe Nest Shelter, Lantern House, The Road Home, Three Square Food Bank, Your Community Connection of Northern Utah, and The Logan Family Center.

“We are grateful for our dedicated members whose contributions make these funds possible,” said Nicole Cypers, AFCU VP of public relations. “Our foundation will continue to uphold the philosophy of people helping people because it’s in our DNA.”

For the past 30 years, AFCU has donated to nonprofits. The purpose of the CAP program is to provide strategic financial support to some of the greatest community needs – job assistance, training, housing, food and medical services.

Nonprofits Receive $110,000 in Donations — Representatives from the eleven nonprofits serving Utah and Southern Nevada, accepted checks for $10,000.

AMERICA FIRST CREDIT UNION

Proudly celebrating 80 years of servicing members and a long-standing history, America First 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 130 locations, and is the ninth largest credit union in assets in the United States with over $11.5 billion, and the sixth largest credit union in membership in America with more than 1,062,000 members.

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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

Honoring Long-Standing Traditions and Building the New

By John B. Lund, President and Chief Executive Officer

It’s hard to believe 2019 is quickly coming to an end and the holidays are upon us. I do enjoy the season – all the bright lights, beautiful sights, sounds, excitement and activities. Even with the hustle and bustle, there is a peace about this time of year. For me, it’s always an opportunity for reflection and appreciation.

Part of what makes the season so special are family traditions, some old and others having been recently established. A venerable tradition dear to me is stringing popcorn and cranberries with a needle and thread to make a garland for our Christmas tree.

My mother began this practice when she was a child and it continued throughout my youth. My wife and I carried it forward with our family. For Mom, it was probably a good way to beautify the tree on a very small budget. For me, while it certainly adds charm, the process of creating these beautiful chains of red and white brings back cherished memories of Christmases past with family, friends, and loved ones.

My wife and I instituted a newer tradition where, while traveling, we collect an ornament from various parts of the country and world we have the opportunity to visit. Over time, these unique pieces have added up and are now very special to us. As we decorate the tree every year, each ornament prompts fond memories and gratitude for vacations, trips, and experiences we’ve had with special people.

Your credit union has held true to long-standing traditions such as financial strength, trust, and integrity. We’re dedicated to sustaining an outstanding service culture, continuing our passion for delivering relevant products and services of true value, and focusing on developing lifelong relationships with each member.

A more recently established tradition is our attention on continually expanding and improving our role as your premier provider of electronic services. In today’s fast-paced world, convenience & speed are an important priority, and we designed our award-winning mobile and digital platforms to ensure we’re available how, when, and where you need us.

Our commitment is to embrace and build upon these traditions, and to develop new ones as the times and seasons require. We appreciate your loyalty to and trust in America First as your financial partner.

On behalf of the credit union’s employees and volunteers, it’s my privilege to offer our sincere wishes for a wonderful, safe, enjoyable, and peaceful holiday.

America First Credit Union Cuts Ribbon on New West Valley Branch

West Valley, UT – November 21, 2019 – America First Credit Union (AFCU) held a ribbon-cutting ceremony on Friday, November 1 for its newest branch in West Valley.

The branch, which opened on Oct. 21, is located at 5568 W 4100 S in West Valley. The opening of the branch marks AFCU’s 110 branch in Utah and the 130 branch in the U.S.

The leading member-owned, not-for-profit cooperative financial institution branch is managed by David Le who has been part of the AFCU team for seven years and has been in a management role for four years. He’s worked with several locations ranging from West Jordan Macy’s to the Innovation Center at City Creek. David received his B.S. in Biology at Westminster College. His love for learning pushes him to continue to learn new things every day. He is an avid reader and spends as much time as possible listening to NPR and podcasts.

“As one of the largest cities in Utah, we’re excited to be expanding in West Valley and I’m honored to be able to serve the residents in the community,” said Le. “Our goal is to be a committed community supporter, an aid our members and their financial wellness, and be a partner for life.”

The newly constructed full-service, 3,331-square-foot branch includes 4 teller stations; a 2-lane drive-up, one lane being an ATM; a coin counter; 3 loan desks; and a remote expert office.

ABOUT AMERICA FIRST CREDIT UNION

Proudly celebrating 80 years of servicing members and a long-standing history, America First has become one of the largest, most stable and most progressive crdit unions in the country, and has remained a member-owned, not-for-profit cooperative financial institution. Today, America First has 130 locations, and is the 9th largest credit union in assets in the United States with over $11.5 billion, and the sixth largest credit union in membership in America with more than 1,062,000 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