Branch Consolidation Planned for January, 2010

As we continue to work through challenges resulting from today’s economic conditions, we’ve come to the difficult decision to further consolidate our branch network.

The following branch locations will be closing on January 16, 2010:

• Buckeye In-Store Located inside Fry’s
  1300 S. Watson, Buckeye, AZ 85326
• Maryvale Branch Located inside the YMCA
  3825 N. 67th Ave, Phoenix, 85033
  
• Lake Pleasant In-Store Located inside Wal-Mart
  21655 N. Lake Pleasant Rd., Peoria, AZ 85382
  

The following branch locations will be closing on January 30, 2010:

• 75th Ave In-Store Located inside Wal-Mart
  2020 N. 75th Ave, Phoenix, AZ 85035
  
• Avondale In-Store Located inside Wal-Mart
  13055 W. Rancho Santa Fe Blvd., Avondale, AZ 85392
  
• Chandler Branch Near Alma School & Chandler Blvd.
  1311 W. Chandler Blvd., Chandler, AZ 85224
  
• Germann In-Store Located inside Wal-Mart
  2750 E. Germann Rd., Chandler, AZ 85286
  
• Laveen In-Store Located inside Wal-Mart
  6150 S. 35th Ave, Phoenix, AZ 85041

While we regret having to take this action, we do so as an appropriate step to ensure the long-term success of our credit union. This continues our efforts to consolidate our branch resources to meet the economic reality we all face, and helps to position us for future success.

We recognize that you may view this action as a loss of convenience. However, we have made significant investments in recent years to enhance our online and telephone channels – which will play even more prominent roles in our future service strategy. We hope that you’ll consider these and other options such as Shared Branching and our network of surcharge-free ATMs, as you determine the overall value that Arizona Federal provides to you.

We remain committed to serving your financial needs, even if we must do so differently moving forward. Thank you again for your membership and for your commitment to Arizona Federal.

Sincerely,

Ronald L. Westad
President & CEO