Credit Union Reports Growth in Assets and Services

AFCU Annual Meeting

Volume C, No. 4April, 2000

Substantial increases in assets, transactions, and services to members were highlighted at the Actor’s Federal Credit Union annual meeting, which was held on Feb. 25.

AFCU President Jeff Rodman reported healthy increases in a number of key statistics: The credit union’s assets have increased to more than $49 million; loan volume last year exceeded $12.5 million; and AFCU processed more than half a billion dollars in transactions.

Services to members have also expanded, Rodman said, and one important measure of this is the fact that three additional ATMs will soon be available in Manhattan to better serve members of the AFCU and the entertainment community. Two of the machines will be available 24 hours a day, seven days a week, while the third will be open 23 hours a day, Monday through Thursday, and 24 hours on the weekends. One of the ATMs will be located in Times Square.

“Numerous members of the staff and myself worked hard throughout 1999 to answer the request of our members for more ATMs,” Rodman said. “I am very pleased with our ability to fulfill their request.”

His report detailed other exciting plans for 2000, including the addition of a VISA-check card, an AFCU web site, and internet banking. “The addition of these services will help to round out our offerings to members and fulfill our slogan, Family Banking for the Entertainment Community.”

AFCU’s board of directors saluted retiring treasurer Robert Kreller, who has played an indispensable role at the credit union for the last 25 years. Since he began working at AFCU, Kreller recalled, computers have gone from the size of several large filing cabinets to fitting on a desktop. “When I started, I used to work in the loan department, where I made over 11,000 loans. The majority of those loans were typed up on an old Smith-Corona typewriter.” Kreller said that the most significant changes he has seen, in his 25 years with the credit union, were the addition of checking accounts and VISA credit cards.