By Al Strawn
We just completed our annual membership meeting and election of directors. Credit unions are truly unique in the financial world, giving members an opportunity to have a voice in the future direction of their organization.
As CEO, I am directly accountable to the Board of Directors, and understand the importance of attracting qualified individuals who want to give back to their community. During my tenure at Matanuska Valley Federal Credit Union (MVFCU), I estimate there have been between 50 to 75 individuals serve on the board. This represents many different personalities, competencies and levels of engagement. The importance of good leadership guiding an organization cannot be overstated.
Recently, I challenged myself and others in management to think about some of the positive qualities that highly valuable and effective board members have. The list includes people who are visionary and strategic thinkers, their focus being on the future, rather than second guessing decisions of the past. They have a basic understanding of financial and accounting issues, and appreciate the healthy tension that sometimes exists between the regulators and the regulated. Highly valuable and effective board members always serve the interests of the membership, rather than special interests or personal agendas. They redirect others who are disruptive or self-serving. Good board members come to each meeting fully prepared and engaged, and are committed to continual learning and professional development. They serve with humility, not seeking recognition. Rather, they are servant leaders who have a passion for helping others.
To have such people as directors is truly a blessing. They lead by example, and challenge the rest of us to do our best, and give us courage to take action. When there are relationships built upon trust, respect and integrity, they produce an atmosphere that allows for innovation and creativity, while maintaining accountability. A board made up of good directors can become a great board, one that makes a difference and continually strives for excellence in governance.
MVFCU has been serving members for nearly 70 years. From very humble beginnings, the credit union has grown to become a full service financial provider with over 44,000 members. Our success is a reflection of consistent quality leadership, which starts at the top with the Board of Directors!
I encourage each of you to exercise all the privileges and responsibilities of membership. Look for opportunities to serve, and always participate in the elections. You have a voice, and you can help shape the future of our community! Thank you for being part of MVFCU.
The results of the 2018 Election were announced at the Membership Meeting in Palmer, AK. Amy Roberts, a librarian at Machetanz Elementary School, joins our Board of Directors along side of incumbent David Combs. Each are already hard at work assuring MVFCU's future is bright.
By Noelle Kai
In daily conversations I’m asked a multitude of questions ranging from current interest rates to the latest real estate news. It is our hope, as your partner in Financial Fitness, to help answer those questions and increase your knowledge as you make important decisions for your family and future.
One of the more frequest questions I hear is: Is there really a benefit to owning versus renting?
With rising sales prices, it’s not hard to understand why folks ask this question. The Honolulu Board of REALTORS (“HBR”) produces a monthly report detailing sales statistics for the Island of O`ahu, covering everything from the median sales price, to the number of closed sales and how long those properties were on the market. For the month of May, the HBR noted the median sales price for Single-Family homes at $778,000 and $430,000 for Condos. Those prices were up 4.4% and 5.8%, respectively, from the same time last year.
While we wonder who can afford those prices, you have to consider the following: the $1,750 rent you send to your landlord each month equates to $21,024 in one year and $105,120 in five years. “Combined with appreciation in Hawai`i, investing your rent check into a home of your own allows you to build long term wealth,” advises Davilyn Sato, Realtor with Locations. “You are contributing to your landlord’s assets each month, when you could be increasing your own bottom line.”
Despite a small increase recently, overall interest rates are still at incredible lows. What that means for you is more buying power! Instead of paying rent each month, build equity with each mortgage payment, and take advantage of the potential tax credits available to you.
The argument for homeownership is a strong one when planning your financial future. Ultimately, the pros and cons should be considered according to your individual situation. If you’ve dreamed of purchasing a home and don’t know where to begin, please call me at (808) 208-0320 or
email at email@example.com.
I can help answer your questions and get you started on the road to dream achievement!
In Alaska contact one of Consumer Loan Officers:
Catherine Katchur at (907) 761-4631 or email at firstname.lastname@example.org
Misty Severs at (907) 761-4636 or email at email@example.com
Ivory Rhowmine at (907) 761-4634 or email at firstname.lastname@example.org
Susan Schroeder at (907) 761-4645 or email at email@example.com
Visa Secured Credit Card
A good credit score is important. Grow, strengthen, or establish your credit history with a Visa Secured Credit Card from Matanuska Valley Federal Credit Union! It works like a credit card, but it is secured with funds held in your Share Savings Account.
To apply for our Visa Secured Credit Card, apply online here or complete this form and submit it by:
• Dropping it off at any of our 11 community offices
• Mailing it to 1020 South Bailey Street, Palmer, AK 99645
• Faxing it to 907-745-6893
The 2017 Annual report is now available at any Community Office! The report will provide insight on your credit union's accomplishments, Board Members, and financial strength over last year.
The Annual AVIS Sale
Saturday, September 15, 2018, will be the Annual Avis Sale!
Be sure to watch our Facebook page and www.mvfcu.coop/avissale, for more details! We look forward to seeing you there!
Join us and the Mat-Su Miners Friday July 18, 7:00 p.m. at the Hermon Brothers Field.
Your free tickets will soon be available for pickup at any Alaska Community Office!