Affinity Plus Highlights Investments In The Community, in the Cooperative at 89th Annual Meeting
Wednesday, April 3, 2019
Posted by: Julia Miller
Affinity Plus Federal Credit Union – SAINT. PAUL, MINN. (April 3, 2019) – Last week Affinity Plus Federal Credit Union hosted its 89th Annual Meeting of the Membership at its headquarters in St. Paul. The Board of Directors, employees, and members celebrated a successful 2018, recapping the investments the credit union made in the community and the cooperative throughout the year.
Chair Lori Trygg reminded attendees of the credit union difference, as a not-for-profit financial cooperative. She also highlighted Affinity Plus’ commitment to the communities it serves across the state of Minnesota.
“As a credit union, people and communities are really at the heart of who we are,” Trygg said. “We don’t have laws or mandates that require us to invest in communities. We truly believe that vibrant communities are synonymous with healthy families, and financial health plays a big part in that.”
Trygg celebrated Affinity Plus’ commitments to philanthropy, through its charities of choice and also through $130,000 in funding given by the Affinity Plus Foundation. She thanked employees for ongoing volunteer commitments, financial education both inside and outside the walls of the credit union, and community leadership in local organizations, school boards, churches and youth athletics.
In the past year, Affinity Plus had the privilege to receive several awards and honors, being named the “Best-In-State Credit Union” by Forbes and a Top 150 Workplace by the Star Tribune.
“These awards affirm the financial health of the credit union and also validate the positive feelings that our members and employees have about Affinity Plus,” Trygg said.
Affinity Plus President/CEO Dave Larson spoke about the financial health of the credit union and the incredible gains Affinity Plus has made in the past five years. The credit union’s net worth ratio and net income has grown from 7.50% and $3.5 million in December 2013 to 9.57% and $17.5 million in December 2018.
“It is this kind of success that has allowed us to make substantial investments in the cooperative, including the significant upgrade in our technology infrastructure,” Larson said.
Larson provided an overview of the many system changes that Affinity Plus implemented over the past three years, which included the culmination of a three- year journey resulting in the conversion of seven systems vital to the members and employees of the credit union.
“These systems represent a significant investment in the credit union, as they lay a solid technology foundation that will allow us to be more effective and efficient in serving our members,” he said.
System changes included:
- Upgraded mobile and online banking
- A comprehensive, consolidated loyalty program, MyPlus Rewards™
- New mortgage and consumer lending platforms
- An internal accounting program
- A more robust core processing system
Larson thanked the members for their patience and expressed excitement and optimism for the year ahead.
“With this critical year of conversions and upgrades in the rearview mirror, we will continue to move forward making continuous improvements to our internal processes and to the product and service offerings you have come to enjoy,” Larson said.
The Affinity Plus “2018 Annual Report” and “2018 Community Investment Report” are available for review online. Visit affinityplus.org/about-us/year-in-review
About Affinity Plus
Based in St. Paul, Minn., Affinity Plus Federal Credit Union is a not-for-profit, financial cooperative that puts people first above profits. Members of Affinity Plus receive maximum value through competitive rates, minimal fees, and unique, member-centric products and programs. Established in 1930, Affinity Plus has 28 branches located throughout Minnesota and is owned by more than 197,000 members. Affinity Plus has over $2 billion in assets. Additional information is available at affinityplus.org or by calling (800) 322-7228.