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67TH ANNUAL MEMBERSHIP MEETING
2020 ANNUAL REPORT AIR FORCE FEDERAL CREDIT UNION
REACHING NEW HORIZONS
2
TABLE OF CONTENTS
OVERVIEW
Meeting Agenda 2020 3
MINUTES
66th Annual Membership Meeting 3.30.2019 4,5
INTRODUCTION
Chairman's Report 2020 6,7,8
AFFCU At a Glance 8
President's Report 2020 9
NEW HORIZONS
Columbus, MS 10
In the Community 11
FINANCIALS
2019 Financial Statements 12
COMMITTEE REPORTS
Supervisory Committee Report 2020 13
Nominating Committee Report 2020 13
SCHOLARSHIP
2020 Memorial Biographies 14
2020 Scholarship Winners 15
LEADERSHIP
Board of Directors 16
67TH ANNUAL REPORT
3
Continuity gives us roots; change gives us branches, letting us stretch and grow and reach new heights.-Pauline R. Kezer
MORNING'S AGENDA
1. Welcome and Call to Order
2. Determination of Quorum
3. National Anthem
4. Introduction of Board & Committees
5. Introduction of Senior Management
6. Introduction of Special Guests
7. Moment of Silence
8. Minutes of 66th Annual Meeting
9. Reports
a. Chairman’s Report
b. President’s Report
c. Youth Committee Report
10. Unfinished Business
11. New Business
12. Nominating Committee Report
13. Adjournment
MINUTES OF THE 66TH ANNUAL MEMBERSHIP MEETING
MARCH 30, 2019
4
Welcome and Call to Order: The 66th Annual
Membership Meeting of Air Force Federal Credit Union
was held at the Courtyard Marriott Westover Hills
located at 11605 TX Hwy 151, San Antonio, Texas,
78251 on March 30, 2019. Members were provided
the 2019 Annual Report that included the 2018 Annual
Membership Meeting Minutes, Chairman’s Report,
President's Report, Financial Statements, Supervisory
Committee Report, and Nominating Committee Report.
At 10:04 a.m. Mr. Sam V. Farace, Chairman of the Board,
called the meeting to order, introduced himself, and
welcomed those in attendance.
Determination of Quorum: Mr. James E. Goodgion,
Vice Chairman of the Board, certified that a quorum was
present.
National Anthem: Chairman Farace invited everyone to
rise for the National Anthem to be performed by AFFCU
staff member Janie Garza.
Introductions: Mr. Farace presented the credit union’s
volunteer Board of Directors to the membership.
Executive Committee members were James E. Goodgion
III, Vice Chairman; Melvin J. Moczygemba, Treasurer
(who was unable to attend); Joan B. Lopez, Secretary
(unable to attend), and Sam V. Farace, Chairman of the
Board. Directors were Michael M. Buecher (unable to
attend), Georgia Snodgrass, Brian K. Rawls, John A.
Szulta, and Thomas L. Scott. Supervisory Committee
members were Michael M. Buecher, Chairman (unable
to attend), Michael A. Pollog, Joseph M. Gonzales III, and
Alejandro E. Valadez (unable to attend).
Introduction of Senior Management: Mr. Robert (Bob)
Glenn, President/CEO of AFFCU was introduced by the
Chairman. Mr. Glenn introduced the management team.
Introduction of Special Guests: Mr. Farace welcomed
special guest Timmothy M. Dickens, CMSgt Retired,
President of the Airman Heritage Foundation.
Moment of Silence: A moment of silence was observed
for members who had passed away during the past year
and for the brave men and women in the military who
had made the ultimate sacrifice to keep America free.
Minutes of the 65th Annual Meeting: On a motion
made and seconded from the floor, the minutes of the
65th Annual Membership Meeting held on March 24,
2018 were approved as published.
Reports: Chairman Farace referenced the reports
printed in the Annual Report and called for any
questions. There were none.
Mr. Farace personally thanked everyone who took the
time to attend the Annual Meeting. He then called
the attendees’ attention to a short video recapping
the prior year. The video highlighted some of the
accomplishments of the Credit Union in 2018 such
as increasing assets to $423 million dollars, realizing
a profit of over $2.1 million dollars, a Net Worth of
7.88%, loan growth of over 12.03%, share growth of
8.38%, adding over 5,000 new members (an 11.81%
increase), merging with Local 142 Federal Credit
Union, implementing new technology in the branches,
introducing new and improved checking accounts, as
well as integrating a new AFFCU brand into all the areas
members touch. The video concluded by showcasing
some of the charitable organizations the Credit Union
supported in 2018 with donations of over $80,000 and
numerous volunteer hours by its employees.
Mr. Farace spoke on what to expect in 2019. The plan is
to reach out to new areas by providing branches in the
Credit Union’s five-state chartered area, completing the
implementation of Interactive Member Experience (IMX)
systems in all of its branches as well as Interactive Teller
Machines (ITMs). ITMs are full-service teller machines
that will let members complete their banking at any
time, with a representative available on the video screen
to provide any needed assistance. Improvements will
be seen in the Credit Union’s online banking platform,
CyberMAT, and in the robust mobile app. The Credit
Union recently offered a special America Saves Club
account during America/Military Saves week and many
took advantage of the great 3.05% rate. The credit union
will continue to offer more products that bring members
the best benefits and returns on their investments.
Mr. Farace called upon CMSgt (Ret) Timmothy Dickens,
President of the Airman Heritage Foundation to speak
about the mission and goal of their organization. AFFCU
has worked with the Airman Heritage Foundation
since 2010 in establishing a Select Employee Group
relationship where those who join the Foundation were
also eligible for membership with AFFCU.
MINUTES
5
Mr. Dickens explained that the Airman Heritage
Foundation supports the USAF Airman Heritage
Museum and other heritage-related activities in
preserving and honoring the history and heritage of
the USAF enlisted airmen. Their goal is to build a new,
larger museum and create a learning and development
platform within the museum. Mr. Dickens said the
Credit Union has been the number one supporter and
advocate for what the Foundation stands for. Over the
last nine years, the Foundation has had over 20,000 new
members that resulted in over $475,000 raised towards
their efforts. He recognized the Credit Union as being
the single most impactful strategic partner by providing
space, meeting rooms, and administrative support. He
concluded by stating the one constant in their efforts has
been their ally and advocate, Air Force Federal Credit
Union, and thanked them for their contributions to the
Airman Heritage Foundation through the years.
Bob Glenn, President/CEO delivered the President’s
Report. In 2018, the completed merger with Local
142 FCU was very successful. It increased the Credit
Union’s membership and their office was obtained
as a branch. A significant number of other employers
were added to the Credit Union’s field of membership
in 2018 which allows the Credit Union to serve more
members and gain efficiencies that can only be attained
through growth. Loans grew by more than $37 million
and shares grew by $31.1 million. The Credit Union
controlled its non-interest expenses where the expenses
as a percentage of total assets were actually reduced.
Mr. Glenn reported that the loan growth objectives for
2019 were significant. The goal would be to exceed its
2018 growth and the Credit Union looks to do that by
adding new real estate mortgages. Also, the 2019 goals
include increasing the Credit Union’s checking accounts.
He invited the membership to bring their checking
accounts to AFFCU as the Credit Union seeks to become
their Primary Financial Institution. Mr. Glenn thanked
the members for their use of the Credit Union over the
past year and promised them that in 2019, they would
receive service that is second to none.
Board member Ms. Georgia Snodgrass presented
the Youth Committee Report and announced the
2019 scholarship recipients. There was a total of four
scholarships awarded, each in the amount of $4,000.
Ms. Snodgrass announced the 2019 recipients as
follows: Aaron Gabriel Herrera, a student at Sandra Day
O’Connor High School in Helotes, Texas, received the
George H. Einfeldt Memorial Scholarship; Karagan Grace
Weld, a student at Northeast School of Arts at L.E.E.
High School in San Antonio, Texas, received the Warren
D. Vail, Sr. Memorial Scholarship; William Everette
Sands III, a student at Johnson High School in San
Antonio, Texas, received the James C. Kemple Memorial
Scholarship; and Matthew David Ortiz, a student at Del
Rio High School in Del Rio, Texas, received the Ronald R.
Applegate Memorial Scholarship.
Unfinished Business: Chairman Farace called for any
unfinished business. There was none.
New Business: Chairman Farace called for any new
business. There was none.
Nominating Committee Report: Chairman Farace
introduced the members of the Nominating Committee
as follows: Mr. Thomas Scott, Chairman, Mr. Brian
Rawls and Mr. Melvin Moczygemba. Mr. Scott read the
Nominating Committee Report. It was the duty of the
Nominating Committee to nominate at least one member
for each of three positions, with the election to be held
at the annual meeting. The Nominating Committee
received submissions from three individuals indicating
their desire to serve on the Board. The Nominating
Committee found the candidates qualified and agreeable
to having their names placed in nomination. The
candidates were: Mr. James E. Goodgion III, Mrs. Joan
Lopez, and Ms. Georgia Snodgrass.
There were no nominations by petition. According to
Article V of the Bylaws, when only one member was
nominated for each position to be filled, the election
would not be conducted by ballot and there would be
no nominations from the floor. The nominees would be
declared elected by general consent, acclamation or
voice vote at the Annual Meeting.
On a motion and second from the floor, it was
recommended to elect Mr. James E. Goodgion III,
Mrs. Joan Lopez and Ms. Georgia Snodgrass to fill the
three, three-year terms on the Board of Directors. The
motion carried.
Adjournment: Chairman Farace thanked everyone for
their participation and adjourned the meeting at 11:02
a.m.
2019 MINUTES (CONTINUED)
6
Col Sam V. Farace Jr., USAF (Ret), NCVE
MESSAGE FROM THE CHAIRMAN
CHAIRMAN
On behalf of your Board of Directors, I am pleased to outline the accomplishments realized by your member owned credit union in 2019 and give you a glimpse of what you might expect to see in 2020. We were successful through the concerted efforts of our exceptional employees, to attain another benchmark year. To attest, we achieved three major milestones while becoming fiscally stronger, and more efficient and responsive to you, our members, by the introduction of new interactive technologies. One of the first things we invested in during 2019 was innovative technologies. We implemented our plan to equip all our branches with Interactive Member Experience (IMX) machines as well as Interactive Teller Machines (ITMs) in select branch and drive-thru locations. Our goal was to provide members with the best service possible in improving efficiencies and safety in making transactions. Based on member acceptance: mission was accomplished.
Secondly, we are proud to announce that AFFCU has reached new heights through achieving three firsts: Opening a new branch outside of Texas, increasing our membership to new levels and finally, attaining the highest asset and loan portfolio size ever.
After a couple of years searching for the best markets across the country to serve our members and to help grow the AFFCU brand out-of-state, we found Columbus, Mississippi to bring the greatest value. We opened a new branch there in October. Our reception there has been very positive, opening up financial opportunities to new members from the Golden Triangle community that includes Columbus (home of AETC’s 14th
Flying Training Wing), Starkville, and West Point.
Our Columbus branch is the first of its kind to offer a unique interactive experience to our members. It is equipped with the latest in technologies, featuring the Interactive Teller Machines and Member Experience Machines that will make communicating with headquarters easy and efficient. More importantly, we’ll be able to serve more of our members effectively in that area.
From a growth standpoint as mentioned above, our membership increased to over 50,000 as we serve them all across the globe. We have accomplished this through partnerships such as our association with the Airman Heritage Foundation, Select Employee Groups (SEG) and our marketing outreach to our field-of-membership to name a few.
Our final of our Firsts in 2019 addresses our new levels of asset and loan portfolio size. Our dedicated employees worked diligently resulting in an annual loan growth of 12.17% which ultimately drove our asset level to over $458 million.
Combining all of these achievements and others not included, it is no wonder AFFCU was recognized by the DoD for the second time in five years as the Best-of-the-Best credit union in the under $1B category. AFFCU was pleased to receive the “Air Force Distinguished Credit Union Service Award,” more commonly known as “Air Force Credit Union of the Year.” The annual honor was awarded to AFFCU for our commitment in providing an exemplary level of support, customized services, and financial training to our military members and their families. It is the highest honor for an on-base financial institution.
7
Bottom line: This is what placed us ahead of the competition.
Community Outreach
Each year AFFCU reaches out to support many worthwhile organizations in the communities we serve in many ways by providing education, money and volunteers to help worthy causes. Community outreach has been a part of this Credit Union’s strategic plans since our inception in 1952. Our support has grown over the years as we have grown and 2019 was no exception.
Our participation in Military/America Saves Week had a great impact on membership this past year. We saw 387 members open a special America Saves Club account, which was only offered during the seven-day event. Many members also participated in social media events and financial education classes that week. Look for an extended Saves program in 2020.
Once again, AFFCU partnered with KENS TV and the San Antonio Food Bank to support the “Million Summer Meals” campaign. Over the three-summer month period, the Credit Union helped raise 11.5 million meals for many families and children in South Texas. This could not have happened without your continued support.
The Lackland and VA Fisher Houses are outstanding organizations supporting and housing military personnel and their families undergoing treatment at local medical facilities at no charge. Throughout the year, AFFCU provides support to each house through programs such as the Armed Forces Financial Network (AFFN) gift card program and our support of special events. Additionally, a $2,000 check was presented to Lackland Fisher Houses from donations raised by AFFCU staff.
The Children’s Hospital of San Antonio is an important benefactor of our Credit Union. As a member of Credit Unions for Kids, AFFCU is
involved with many fund-raising events throughout the year supporting the hospital. In addition, our first-ever Fiesta medal debuted in 2019 to raise funds. Results: $3,500 of profits from sales of the medals was presented to the hospital officials. We plan to make this an annual tradition.
AFFCU understands the importance of investing in young adults, the future leaders of our communities. In 2019, AFFCU awarded scholarships totaling $16,000 to four exceptional young men and women. That total will increase to $20,000 in 2020.
Your Credit Union’s responsibility is not only to protect the money you entrust in us, but to the communities that we serve. We will continue to be strong supporters to those organizations that are helping make our communities and country better. Rest assured we will live up to the motto of “People Helping People.”
Eyes on 2020
The Credit Union is committed to providing you with the best services, conveniences, and products available in the industry. We will continue to work on your behalf to achieve that, whether you walk into a branch, go online or connect with us through a mobile device. Excellent member service encompasses every single aspect of the Credit Union. The Member Experience Machines (IMXs) and Teller Machines (ITMs) initiatives are examples of member improvement experiences that are planned to continue in 2020.
Other changes to look for include improvements in mortgage services, special vacation, holiday and auto loan promotions throughout the year and our continued support of many outreach initiatives.Both our past and future are greatly dependent on the teamwork of our President/CEO, senior management and staff. On behalf of our Board of Directors, I want to express my gratitude for their hard work and dedication in serving our members and helping to achieve our goals.
FROM YOUR CHAIRMAN (CONTINUED)
8
CHAIRMAN
AFFCU FINANCIAL & MEMBERSHIP GROWTH
2013 2014 2015 2016 2017 2018 2019
38,936 40,705 41,243 41,316 43,321 48,437
Assets
Deposits
Loans
Members
$361.5M
$327.0M
$246.3M
38,936
$359.6M
$330.2M
$247.2M
40,705
$364.9M
$334.2M
$257.1M
41,243
$376.5M
$345.5M
$266.3M
41,316
$387.9M
$356.4M
$308.2M
43,321
$423.1M
$387.6M
$345.3M
48,437
10,000
20,000
30,000
40,000
50,000
60,000
Year
Membership
0
$458.7M
$406.5M
$387.3M
50,758
50,758
2019
Additionally, I want to thank our Board and Supervisory Committee members who donate their time and expertise to provide direction and guidance to the CEO and oversight of the audit function of the Credit Union’s operations. Together this team has and will continue to achieve great things for the Credit Union.
In closing, as your chairman, I pledge to uphold our core values, mission, and vision of AFFCU. Additionally, my goal is to enrich your lives with advantageous financial solutions and a lifetime of service excellence encouraged by our core values.
We’re so happy to have you as our member, whether you’re a civilian or are serving our great country. On behalf of our Board, Management and Staff at AFFCU, we sincerely appreciate your membership. We stand ready to serve you today and always.
Sincerely,
Col Sam V. Farace, Jr. USAF (Ret)Chairman, Air Force Federal Credit Union
FROM YOUR CHAIRMAN (CONTINUED)
9
million. Checking and share certificate products provided the base of the Credit Union’s deposit growth and in part lead to the great rates you receive on our products. We ensure our profits are given back to the members and one way is to provide some of the most competitive rates in the market.
Our goal has been and continues to be investing in making your banking experience banking with AFFCU the best it can be. We are always searching for new and innovative ways to provide an elevated level of service, and you’ll see that in our investment and retirement services.
The Credit Union has received positive feedback from members about the Interactive Teller Machines (ITMs) and the Interactive Member Experience Machines (IMX). We are proud to know our intention of upgrading our technology has improved the member experience while still providing the quality customer service we are known for.
Our horizons continue to look prosperous with the development of products and services AFFCU offers. Of course, none of this can happen without your belief and trust that you and your family make in entrusting us with your finances. We thank you for that honor.
From the Board, Senior Management and staff, we look forward to serving you with Integrity, Service, and Excellence now and in the future. And we sincerely appreciate your loyalty to the Credit Union.
In service I remain,
Robert "Bob" GlennPresident/CEO
It is with great pleasure that I report that Air Force Federal Credit Union (AFFCU) had a successful financial year. The Credit Union is in a secure and stable position for continued growth in the future.
In 2019, the Credit Union showed a healthy profit of $2,269,294.00 and ended the year with total assets of $458 million. AFFCU’s net worth is at 7.77% and increased its ROA to .51% by end of year. We are proud to have met the financial measures set by our regulator, the NCUA, and know that AFFCU is in a sound financial status.
Much of the development and profit we’ve seen over time is due in part to the increase in loans. The Credit Union ended 2019 with 12.17% in growth year over. The total in the loan portfolio was $387 million. Much of this can be attributed to the strengthened partnerships we have built upon with vehicle lenders and second purchase mortgages. Our new online loan application system, launched last year, has made the application and approval process effortless for members.
We are committed to improving the lending process and adding additional products for members in the coming year. Many of these products will aid you in your financial journey and goals.
Our membership growth grew in parallel with our loan growth, with an increase of 4.79%. This increase is attributed to the opening of the Columbus, Mississippi branch. The community's response to the Credit Union has been positive and we look forward to a bright future in that location.
We recorded heightened deposit growth over the last year as well and saw a 4.75% increase in that area. Share balances ended the year at $406
To Air Force Federal Credit Union Membership:
Robert "Bob" Glenn
MESSAGE FROM THE PRESIDENT
PRESIDENT
REACHING NEWHORIZONS
On October 15, 2019, AFFCU opened its first branch outside of the state of Texas. Located in the “Golden Triangle” of Mississippi, consisting of the cities of Columbus, Starkville and West Point, the branch will serve those areas, as well as the military personnel at Columbus AFB.
10
THE JOURNEY TO COLUMBUS
11
In 2019, AFFCU continued its support of Honor Flight San Antonio, the Lackland and VA Fisher Houses, the KENS TV and San Antonio Food Bank Million Summer Meals campaign, and various other community outreach events. AFFCU is a credit union that cares, and it shows!
IN THE COMMUNITY
12
CONSOLIDATED STATEMENT OF INCOME
INTEREST INCOME
Interest and Fees on Loans 15,133,274
Interest on Investments 1,860,908
16,994,182
INTEREST EXPENSE 3,541,995
Net Interest Income 13,452,187
Provision for Loan Losses 1,847,605
Net Interest Income after Provision for Loan Losses
11,604,582
Other Operating Income 7,162,457
OPERATING INCOME Before Operating Expenses
18,767,039
OPERATING EXPENSE
Employee Expense 7,851,844
Operating Expense 8,645,901
Total Operating Expense 16,497,745
Net Operating Income 2,269,294
Non-Operating Gain/(Loss) 0
NET INCOME 2,269,294
CONSOLIDATED STATEMENT OF FINANCIAL CONDITION
ASSETS
Cash and Cash Equivalents 6,331,909
LOANS TO MEMBERS
Less: Allowance for Loan Losses of $1,645,923
385,669,693
INVESTMENTS 37,599,576
OTHER ASSETS 29,121,057
TOTAL ASSETS 458,722,235
LIABILITIES AND MEMBERS' EQUITY
Members' Share Accounts 406,477,610
Payable and Other Liabilities 21,092,324
TOTAL LIABILITIES 427,569,934
TOTAL MEMBERS' EQUITY 31,152,301
TOTAL LIABILITIES ANDMEMBERS' EQUITY
458,722,235
FINANCIALS
FINANCIAL REPORT BREAKDOWN
December 31, 2019
It is with great pleasure that I report that Air Force Federal Credit Union (AFFCU) had a successful financial year. The Credit Union is in a secure and stable position for continued growth in the future.-Robert "Bob" Glenn,President/CEO
13
REPORTS
The Supervisory Committee, which is appointed by the
Board of Directors of Air Force Federal Credit Union, is
responsible for ensuring that the credit union’s financial
records are in order and that internal controls are in
place to protect the assets of the credit union for its
members.
To meet these goals, the Supervisory Committee is
responsible for determining whether your credit union
managers have:
1. Established and maintained effective internal
controls to achieve the credit union’s financial reporting
objectives.
2. Promptly prepared accounting records and financial
reports to accurately reflect operations and results.
3. That the relevant plans, policies and control
procedures established by the Board of Directors are
properly administered.
4. That policies and control procedures that safeguard
against error, carelessness, conflicts of interest, self-
dealing and fraud are established.
Section 115 of the Federal Credit Union Act states
that the Supervisory Committee is responsible for the
credit union’s audit and that the results are reported
to the Board of Directors and the membership. To
assist in carrying out these responsibilities in 2019 the
committee engaged the firm of DoerenMayhew CPAs to
perform an independent audit and to provide an opinion
on the financial condition of your credit union for the
period ending 09/30/2019 (although this date does not
coincide with year-end it is the date that our financial
audit is historically done.) The goals of this audit are to
determine the reliability and integrity of the financial and
operating information and to determine compliance with
generally accepted accounting principles (GAAP). The
audit program included AFFCU Financial Statements,
Member Verification and AFFCU Retirement Plan and Trust.
CliftonLarsonAllen was engaged to perform the 07/18/2019
review of Bank Secrecy Act (BSA), Identity Theft/Red Flags,
Fair Lending and Secure and Fair Enforcement for Mortgage
Licensing (S.A.F.E.) Act. The intent of the services was to
focus on specific risk areas regarding federal consumer
protection regulations, fair lending laws and regulations,
bank secrecy act regulations and S.A.F.E. Act regulations; to
provide information related to the credit union’s risk within
those areas; to consider the effectiveness of the credit
union’s policy, procedures, and practices in those areas; and
to provide a reasonable solution to any issues discovered.
AFFCU’s internal auditor program includes monthly
inspection of internal controls, cash, member loans and
other assets of your credit union.
CastleGarde was engaged to perform an Information
Systems risk assessment, and multi-factor authentication
assessment and a website compliance review. The
Supervisory Committee followed and offered guidance to
our internal auditor during the year. It approved the annual
internal audit plan, worked with the compliance officer to
ensure compliance training programs were administered
to staff, and met with credit union management to discuss
detailed operations information.
The committee is pleased to report that your credit union
continues a tradition of excellent financial management
and compliance. The committee will continue to monitor
the credit union’s controls as it faces the challenges and
opportunities in the upcoming year.
Respectfully submitted,
Michael M. Buecher
Supervisory Committee Chair
SUPERVISORY COMMITTEE REPORT
Air Force Federal Credit Union (AFFCU) will have three
3-year term vacancies on the Board of Directors in 2020.
It is the duty of the Nominating Committee to nominate
at least one member for each of these positions, with the
election to be held at the Credit Union’s annual meeting.
The Nominating Committee received submissions from
three individuals indicating their desire to serve on the
Board. The Nominating Committee found the candidates
qualified and agreeable to having their names placed in
the nomination. The nominees for the AFFCU Board of
Directors are: Col Sam V. Farace, Jr., USAF (Ret); Lt Col
John A. Szulta III, USAF (Ret) and TSgt Michael M. Buecher.
USAF (Ret).
The three-year positions will be filled first by the
candidates receiving the greater number of votes.
Respectfully Submitted,
Melvin J. Moczygemba
Nominating Committee Chair
NOMINATING COMMITTEE REPORT
14
People Helping People
2020 MEMORIAL SCHOLARSHIPBIOGRAPHIES
“George” as everybody knew him, loved the credit union and was a true pioneer in the movement of “people
helping people.” Beginning in 1961, he served for 30 years on the Board of Directors and four years as
a member of official committees. In both 1968 and 1970, George was elected Chairman of the Board of
Directors. He dedicated a large part of his life to the development of the credit union and was instrumental in
the success we enjoy today.
SMSgt George H. Einfeldt, USAF (Ret)
1917-2003
Annually, AFFCU is proud to give back to the community by awarding memorial scholarships that are named
after AFFCU distinguished honorees. Below are the names of the scholarships and whom they honor:
A true credit union friend, Warren D. Vail, was a dedicated volunteer who was passionate about serving
the members of the credit union. While Master Sergeant in the U.S. Air Force, he became involved as a
member of the credit union’s Credit Committee. In 1965, he was elected to the Board of Directors, served
as Chairman of the Board in 1967, and served again on the Board from 1976-1977. Known best for his
devotion to expanding member services beyond Lackland AFB, he was also instrumental in opening the Main
Branch currently located on base.
MSgt Warren D. Vail, Sr., USAF (Ret)
1917-2005
Chief Master Sergeant James C. Kemple spent 23 years in faithful and invaluable service as an AFFCU Board
Member. He honorably served in the U.S. Air Force, retiring after 32 years as the Group First Sergeant at Wilford
Hall Medical Center, where one of his primary functions was financial counseling. He was elected to our Board of
Directors in 1980, serving as Vice Chairman from 1988-1996 and Chairman from 1996 until his resignation in
November of 2003. During his tenure, he devoted much of his time to the improvement of services to members
of the Credit Union.
CMSgt James C. Kemple, USAF (Ret)
1930-2011
Ron spent a lifetime serving our country and the credit union community. He had a distinguished military
career in the United States Air Force, serving 30 years before retiring as a Chief Master Sergeant. The
importance of helping people with financial matters led him to serve as a board member for 38 years. His
volunteer service began in 1976 with a position on the Supervisory Committee. He became a director in
1979 and served in various capacities, including Chairman of the Board for one year, 23 years as Chair of the
Credit Committee and was the Chair for the Compensation Committee.
CMSgt Ronald “Ron” Applegate, USAF (Ret)
1943-2017
BIOS
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SMSgt George H. Einfeldt, USAF (Ret)Memorial Scholarship
Winner: Benjamin August Rawald, Del Rio, TX $5,000
MSgt Warren D. Vail, Sr., USAF (Ret)Memorial Scholarship
Winner: Taylor Morgan McClung, San Antonio, TX$5,000
CMSgt James C. Kemple, USAF (Ret)Memorial Scholarship
Winner: Caroline Rae Crittel, Shreveport, LA$5,000
CMSgt Ronald R. Applegate, USAF (Ret)Memorial Scholarship
Winner: Tyla Josefine Chevier, San Antonio, TX $5,000
2020 SCHOLARSHIP WINNERS
Col Sam V. Farace Jr., USAF (Ret), NCVE
ChairmanJames E. Goodgion, III, NCVE
Vice ChairmanMelvin J. Moczygemba, CPA, NCVE
Treasurer
Joan B. Lopez,NCVE
SecretaryCPT Thomas L. Scott, USA (Ret), NCVE
DirectorTSgt Michael M. Buecher, USAF (Ret), CCD, NCVE
Director
CMSgt Brian K. Rawls, USAF (Ret), NCVE
DirectorGeorgia S. Snodgrass, NCVE
DirectorLt Col John A. Szulta III, USAF (Ret)
Director
Georgia S. Snodgrass, NCVE
We do business in accordance with Federal Fair Lending Laws. Insured by NCUA.
Air Force Federal Credit Union Corporate Headquarters
1560 Cable Ranch Road, Suite 200 | San Antonio , TX 78245
210.673.5610 | 800.227.5328 | GoAFFCU.com
BOARD OF DIRECTORS
© 2020 Air Force Federal Credit Union. All Rights Reserved.