A LEGACY OF NEW BEGINNINGS

AFFCU 2019 ANNUAL REPORT

AIR

FO

RC

E FE

DER

AL

CR

EDIT

UN

ION

TH66ANNUAL MEMBERSHIPMEETING

2

TABLE OF CONTENTS

OVERVIEW

Meeting Agenda 2019 3

MINUTES

65th Annual Membership Meeting 3.24.2018 4,5

INTRODUCTION

Chairman's Report 2019 6,7,8

AFFCU At a Glance 8

President's Report 2019 9

TECHNOLOGY

IMX 10

ITM 11

FINANCIALS

2018 Financial Statements 12

COMMITTEE REPORTS

Supervisory Committee Report 2019 13

Nominating Committee Report 2019 13

SCHOLARSHIP

2019 Memorial Biographies 14

2019 Scholarship Winners 15

LEADERSHIP

Board of Directors 16

66TH ANNUAL REPORT

3

Heroes reach beyond what is required to achieve the remarkable.-Kevin Brown, author

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 65th 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 65TH ANNUAL MEMBERSHIP MEETING

MARCH 24, 2018

4

Welcome and Call to Order: The 65th Annual

Membership Meeting of Air Force Federal Credit Union

was held at the Holiday Inn located at 10135 TX Hwy

151, San Antonio, Texas, 78251 on 24 March 2018.

Members were provided the 2018 Annual Report

that included the 2017 Annual Membership Meeting

Minutes, Chairman’s Report, President's Report,

Financial Statements, Supervisory Committee Report,

and Nominating Committee Report. At 1000 hours,

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 Air

Force Federal Credit Union staff members Janie Garza,

Gloria Patterson, Elizabeth Phillips, and Kathleen

Swain.

Introductions: Mr. Farace presented the credit union’s

volunteer Board of Directors to the membership.

Executive Committee members were James E.

Goodgion, Vice Chairman; Melvin J. Moczygemba (who

was unable to attend), Treasurer; Joan B. Lopez (who

was unable to attend) Secretary, and Sam V. Farace,

Chairman of the Board. Directors were Michael M.

Buecher, Georgia Snodgrass, Brian K. Rawls (who was

unable to attend), John Szulta, and Thomas Scott.

Supervisory Committee members were Michael M.

Buecher, Chairman, Michael Pollog, Joseph Gonzales

and Dan Babcock.

Introduction of Senior Management: Mr. Robert (Bob)

Glenn, President/CEO of Air Force Federal Credit Union

was introduced by the Chairman. Mr. Glenn introduced

the management team.

Introduction of Special Guests: Mr. Farace welcomed

the special guests as follows:

Mrs. Rocio Applegate, her daughters Veronica Beltra

and Elena Moreno, Hope Aguilar, Local 142 Federal

Credit Union staff member and Maggie Shelton,

Supervisory Committee member of Local 142 Federal

Credit Union.

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 64th Annual Meeting: On a motion

made and seconded from the floor, the minutes of

the 64th Annual Membership Meeting held on 1 April

2017 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 thanked the meeting attendees for their

participation in the Annual Meeting and shared some

of the credit union’s accomplishments in 2017. The

credit union grossed a net income of $206,367.72,

the asset size increased to $387.9 million, Return

on Assets (ROA) increased five basis points, and Net

Worth came in at 7.98%. According to the National

Credit Union Association, those measurements

represent a healthy and sound credit union. The “Road

to Happiness Campaign” created more than $40 million

in loans to over 1,600 members. The new AFFCU

mobile banking app and financial education portal were

launched. For the second consecutive year AFFCU was

selected by the America Saves organization to receive

the “Designation of Savings Excellence” award for

outstanding promotions and educational opportunities

offered to their military members. Community outreach

included support for the Lackland AFB Fisher House,

Credit Unions for Kids, and the San Antonio Food Bank.

For 2018, it was decided by the Board of Directors

of Air Force FCU and Local 142 FCU to enter into a

merger. He welcomed members of Local 142 FCU to

their credit union with a promise of providing quality

service to them and their families. Mr. Farace said that

over the years the credit union had been growing and

evolving. To represent that evolution, the credit union

had updated their brand in that they would be called

AFFCU from now on and they would have a new logo

that captures their future. The new logo was unveiled to

the membership.

Mr. Farace closed by saying he was honored and

privileged to serve as the members’ Chairman of

MINUTES

5

the Board and to be a member of a team focused on

helping members meet their financial goals.

Bob Glenn, President/CEO delivered the President’s

Report. He drew attention to the financial report

which indicated the credit union’s financial position

was stronger than ever. He elaborated on the merger

process with Local 142 Federal Credit Union, which

was voted in favor of by the boards of each credit union

and by the membership of Local 142 FCU. AFFCU was

in the final stages of completing the transition and

would officially welcome all Local 142 FCU members

to their credit union on Monday, April 30, 2018. The

credit union would grow by 2,700 members, one new

branch located at 501 W. Quincy Street in San Antonio,

Texas, and three new employees.

Mr. Glenn reported that the credit union understood

the importance of keeping up with the latest technology

and was always looking for improvement in that arena.

In 2017 the credit union improved remote access by

launching a new and improved mobile app. In 2018

the credit union will focus on improving their online

banking platform, CyberMAT, redesigning the website,

and adding even more features to the mobile app. Mr.

Glenn expressed how proud he was in the new AFFCU

brand and logo. The logo represents the change in

credit union demographics of serving more civilian

than military members, but remaining true to its core

values. The tail of the F-15 hearkens to that legacy.

“The three contrails and their forward motion is an

identifier of who we are and where we are moving,” Mr.

Glenn said. “Each contrail represents one of AFFCU’s

core values – Integrity, Service and Excellence.” He

concluded by saying the brand was a promise that the

credit union will continue to provide excellent service to

all members just as the credit union had proudly served

military members for over 65 years.

Mr. Farace announced a new scholarship that was

being awarded entitled the Ronald R. Applegate

Memorial Scholarship. Ron was a long-time board

member and strong advocate for the credit union,

serving as a volunteer from 1979 until his passing in

2016. The Board of Directors had voted to honor Ron

and his family for his 35 years of service to the credit

union with a scholarship in his name. He asked Mrs.

Applegate to stand and be recognized.

Board member Ms. Georgia Snodgrass presented the

Youth Committee Report and announced the 2018

scholarship recipients. There was a total of four

scholarships awarded, each in the amount of $3,000,

for a total of $12,000. Ms. Snodgrass announced the

2018 recipients as follows: Willie James Crawford III,

Byron P. Steele High School, Cibolo, Texas, received

the George H. Einfeldt Memorial Scholarship; Aaliyah

Siovan Francois, Health Careers High School, San

Antonio, Texas, received the Warren D. Vail, Sr.

Memorial Scholarship; Tremayne Julius Currie, Earl

Warren High School, San Antonio, Texas, received the

James C. Kemple Memorial Scholarship; and Allison

Claire Van Beveren, New Braunfels Canyon High

School, New Braunfels, 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. John Szulta, Chairman, Mr. James E.

Goodgion and Ms. Georgia Snodgrass. Mr. Szulta 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. Brian K. Rawls,

Mr. Melvin J. Moczygemba and Mr. Thomas Scott.

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. Brian K. Rawls,

Mr. Melvin J. Moczygemba and Mr. Thomas Scott 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 1050

hours.

2018 MINUTES (CONTINUED)

6

Col Sam V. Farace Jr., USAF (Ret), NCVE

MESSAGE FROM THE CHAIRMAN

Let me begin my report by affirming that 2018 was by all measures a very profitable and productive year for your Air Force Federal Credit Union (AFFCU). There were many accomplishments achieved by senior management and staff that I would like to highlight.

Last year, we announced at the annual meeting that the credit union would be undergoing a rebranding campaign. Following through with the campaign in 2018, we made several branding changes to better identify AFFCU with not only our roots which stem from serving our military, but also our Select Employee Groups (SEGs) we serve as part of our Field of Membership. Our logo, Credit Union colors, signage and communication media now reflect our new brand. Of particular interest to you, our members, is that each of the three contrails represent what we are all about: it is our core values—Integrity First, Service before Self and Excellence in all we do. The contrails face upward representing our movement to the future through growth of membership and financial resources.

Speaking of our growth, we received approval from the National Credit Union Administration (NCUA) to merge with Local 142 FCU of San Antonio on April 27, 2018. The merger broadened AFFCU’s branch network to seven branches in and around San Antonio. With the addition of local 142 credit union, AFFCU absorbed over 2,500 new members. The strategic partnership provides these members with expanded personalized services and access to greater financial products and technologies. Our Board, Management team and entire staff at AFFCU welcome these new members and pledge to serve them whenever and wherever they may be.

The Credit Union had a positive year on several fronts to include financial and operational improvements, while reducing overall expenses. From identifying a viable remote teller platform and a smart office solution that could be used for new retail branch deployments, to enhancing MeridianLink for our online loan and new account applications, we have greatly improved our application processes and response times to member inquiries. Our goal was to respond proactively to member questions or issues and these improvements achieve that goal.

Once again, our Marketing Department generated a special promotion for the annual Military Saves Program that benefited our membership by providing very competitive savings. Members took advantage of the program by obtaining the Military Saves Share Certificate, which had one of the highest dividend rates in the city at 3.00%. Our efforts to encourage our membership to save for that rainy day or their future “Military Saves Week” resulted in AFFCU receiving its third consecutive “Designation of Savings Excellence” honor.

In the second half of 2018, our Marketing team offered our new premium checking accounts, which provide many valued benefits to all who subscribe. Along with the introduction of the new products, a new website was launched in June. The website was designed to present improved navigation, new and updated contents and included the new AFFCU brand. Additionally, these improvements were extended to our mobile app and CyberMAT online banking.

Our outreach programs

AFFCU continues to exemplify “Service before Self” by reaching out to organizations providing needed

CHAIRMAN

7

support within their missions. As AFFCU is “people helping people” so are these well-known organizations.

Over the years, we have continued to support the following worthwhile organizations:

• Lackland Fisher House• South Texas VA Fisher House• The Children’s Hospital of San Antonio• The San Antonio Food Bank• Bill’s Elves School Supply & Holiday Toy Drive

Our visibility with these programs brought to light our efforts to curb hunger with the SA Food Bank’s “Million Summer Meals” and to offer support for the children under the care of Child Protective Services with “Bill’s Elves,” both sponsored by KENS5. We continue to support military personnel and families housed at the Lackland and Texas VA Fisher Houses, as well as the children being treated at the Children’s Hospital of San Antonio.

From a monetary standpoint, over $80,000 in funds was donated to various organizations in San Antonio and Del Rio, including those listed above. Our hope is to positively impact those families, individuals and children working to overcome their challenges.

AFFCU understands the value of investments and what bigger investment can the credit union make than one in our children. We presented $15,000 in scholarships to students who are military dependents or members of AFFCU. This year, we are committed to allocate additional dollars to those worthy students who have shown their aptitude and commitment to further their education in either the trades or at the university level.

We continue to honor our commitment to educate our members, students and military personnel on financial topics such as car buying, credit building

and the pitfalls of payday lending. To achieve maximum benefit from our education program, we provide free educational modules online so that many more people can access them at any time.

What’s in store for 2019

As we enter 2019, you’ll continue to see improved services online and in our branches. The Interactive Member Experience (IMX) offices have already been introduced to many of the branches with a plan to complete the roll-out by the end of the year. These systems provide video conferencing with experienced staff members who conduct business through face-to-face encounter using state-of-the-art technology. Bottom line: it’s an easy and fast way to do business.

Another technological advancement we look forward to is the addition of the Interactive Teller Machines (ITM). These full-service stations will be inside branches and at the drive-thru to provide immediate service during banking hours as well as providing 24-hour access. A video teller will be accessible through all ITM machines for personal service.

One of the most important responsibilities our members have entrusted to your Board of Directors is one of “Fiduciary Responsibility.” It is our duty to establish strong policies and provide guidance and direction to the Credit Union Leadership to ensure we are a financially strong and well managed financial institution. The challenge for the Board is staying versed in the many Government regulations and constant changes that emerge from Congress and other regulatory agencies. Key to staying on top of the changes is for Board members to participate in both internal and Industry education programs.

Whether it is a regulatory issue, update in technology, another merger or development of a product, your Board is committed to be focused on our mission: to serve our members in the BEST possible way.

FROM YOUR CHAIRMAN (CONTINUED)

8

CHAIRMAN

AFFCU FINANCIAL & MEMBERSHIP GROWTH

2013 2014 2015 2016 2017 2018

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

$364.8M

$334.1M

$257.0M

41,243

$376.4M

$345.4M

$266.2M

41,316

$387.8M

$356.4M

$308.2M

43,321

$423.0M

$387.6M

$345.3M

48,437

10,000

20,000

30,000

40,000

50,000

60,000

Year

Membership

0

Many thanks to our team and members I want to express my sincere appreciation to my fellow Board members and Supervisory Committee members who generously volunteer their time to watch over the credit union’s activities. I also want to thank our President/CEO, his senior management team and the staff who tirelessly work to provide our members with world-class service and products.

My gratitude and thanks along with those of our Directors, Volunteers and AFFCU’s employees are extended to our membership/owners. Your participation and continued commitment to your Credit Union allows AFFCU to provide you with great products, outstanding member service and

to grow successfully. We are truly blessed to be your financial institution of choice.

In conclusion, as your Chairman, I want to assure our members that “we continue to be financially sound and stronger than ever in all aspects of our operations.” While safety and security is our primary concern, we stand ready to meet or exceed your expectations and to be "Your One Financial Partner."

Sincerely,

Col Sam V. Farace, Jr. USAF (Ret)Chairman, Air Force Federal Credit Union

FROM YOUR CHAIRMAN (CONTINUED)

9

$387.6 million. Much of this came from share certificates and new checking products. The great rates you receive on these and other products are due to the profits we generated through the years and have given back to the members/owners. We will continue to invest in other areas to make your banking experience with AFFCU the best it can be. We've upgraded our branches with IMX (Interactive Member Experience) systems, which allow you to video conference with a Financial Service Representative to handle your financial business in a confidential environment. The initial reaction has been more than positive.

You will soon see ITMs (Interactive Teller Machines) in and outside many of the branches. These are robust machines that can act as a teller, ATM, and even allow video chats with a representative.

As you may have noticed, we launched a rebrand of the credit union in 2018. The new logo represents the rebirth and renewal of AFFCU. We will be bringing more improvements in the near future that will take us to another 65 years and beyond. None of this can happen without your participation and the investment that you and your family make in entrusting us with your finances. We thank you for that privilege.

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 enthusiasm that I am able to report that the performance of Air Force Federal Credit Union (AFFCU) last year was profitable, and that the credit union is in a safe and sound condition. In 2018, the credit union showed a profit of $2,169,715 and ended the year with total assets of $423.1 million. The credit union’s net worth is at 7.88%, well above the required 7.00% that regulation defines a “Well Capitalized” credit union.

Much of the growth and profit we’ve seen over the years is due in part to the increase in loans. The credit union ended 2018 with 12.03% in growth year over. The total in the loan portfolio was $345.3 million. Much of this can be attributed to additional partnerships we established with vehicle lenders and second purchase mortgages. In addition to the partnerships, the credit union launched a new online application system, making the application and approval process system much easier for the member.

We will continue to improve the lending process and add additional products for our members in the coming year. Many of those products will benefit our members in what they want to accomplish with their home and auto loan goals. Our membership growth grew in parallel with our loan growth, with an increase of 11.81% from the previous year. The merger with Local 142 Federal Credit Union also increased this percentage as the credit union added more than 2,500 of their members. We now have 48,437 members.

We have emphasized our deposit growth over the last year as well and saw an 8.38% increase in that area. Share balances ended the year at

To Air Force Federal Credit Union Membership:

Robert "Bob" Glenn

MESSAGE FROM THE PRESIDENT

PRESIDENT

UPGRADES INTECHNOLOGY

The AFFCU IMX system provides video-based face-to-face communication to conduct transactions. Members have access to a Financial Service Representative who can assist with new account openings, loan origination and other services, all conducted in a confidential environment.

10

IMX (INTERACTIVE MEMBER EXPERIENCE)

11

AFFCU Members can use an ITM to:

• Make withdrawals

• Deposit cash or checks

• Make balance inquiries

• Make loan payments

• Request teller assistance

ITM (INTERACTIVE TELLER MACHINE)

12

CONSOLIDATED STATEMENT OF INCOME

INTEREST INCOME

Interest and Fees on Loans 13,102,731

Interest on Investments 1,909,384

15,012,115

INTEREST EXPENSE 2, 532,353

Net Interest Income 12,479,762

Provision for Loan Losses 1,677,006

Net Interest Income after Provision for Loan Losses

10,802,756

Other Operating Income 7,522,211

OPERATING INCOME Before Operating Expenses

18,324,967

OPERATING EXPENSE

Employee Expense 8,057,523

Operating Expense 8,097,729

Total Operating Expense 16,155,252

Net Operating Income 2,169,715

Non-Operating Gain/(Loss) 0

NET INCOME 2,169,715

CONSOLIDATED STATEMENT OF FINANCIAL CONDITION

ASSETS

Cash and Cash Equivalents 10,831,853

LOANS TO MEMBERS

Less: Allowance for Loan Losses of $1,613,141

343,689,635

INVESTMENTS 39,925,757

OTHER ASSETS 28,649,000

TOTAL ASSETS 423,096,245

LIABILITIES AND MEMBERS' EQUITY

Members' Share Accounts 387,619,602

Payable and Other Liabilities 5,689,510

TOTAL LIABILITIES 393,309,112

TOTAL MEMBERS' EQUITY 29,787,133

TOTAL LIABILITIES ANDMEMBERS' EQUITY

423,096,245

FINANCIALS

FINANCIAL REPORT BREAKDOWN

December 31, 2018

It is with great enthusiasm that I am able to report that the performance of Air Force Federal Credit Union (AFFCU) last year was profitable, and that the credit union is in a safe and sound condition.-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. Properly administered the relevant plans, policies

and control procedures established by the Board of

Directors.

4. Established policies and control procedures that

safeguard against error, carelessness, conflict of interest,

self-dealing and fraud.

Section 115 of the Federal Credit Union Act states that

the Supervisory Committee is responsible for the credit

union’s annual audit and that the results are reported

to the Board of Directors and the membership. To

assist in carrying out these responsibilities in 2018 the

committee engaged the firm of Doeren Mayhew CPAs to

perform an independent audit and to provide an opinion

on the financial condition of your credit union for the

period ending 09/30/2018 (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

internal audit program includes an annual inspection of

internal controls, cash, member loans, bank secrecy/anti-

money laundering and other assets of your credit union.

The Committee returned to utilizing an in-house internal

auditor in 2018. Clifton Larson Allen is assisting and

supervising the activities of the internal auditor, Susan

Clarke, until her completion of her CPA certification, in

addition to the professional designation as a Certified

Credit Union Internal Auditor. The supervision of

the outside firm covered more than 2,000 hours of

documented supervision. Our Internal Auditor received

her CPA designation in February of 2019 and no longer

requires the level of operational supervision from external

sources as was required in 2018. Utilization of the internal

position for audit purposes greatly enhanced the amount

of oversight the internal audit function is able to provide,

insuring the continued vigilance by the Committee.

In addition, the committee engaged CastleGarde to

perform an Information Systems risk assessment, a

multi-factor authentication assessment and a website

compliance review. The Supervisory Committee followed

and offered guidance to our internal auditors 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 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 2019.

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 on March 30, 2019. 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 Air Force Federal Credit Union Board of

Directors are: James E. Goodgion, III, Joan B. Lopez, and

Georgia S. Snodgrass.

Respectfully Submitted,

Thomas L. Scott

Nominating Committee Chair

NOMINATING COMMITTEE REPORT

14

People Helping People

2019 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 Air Force FCU

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

15

SMSgt George H. Einfeldt, USAF (Ret)Memorial Scholarship

Winner: Aaron Gabriel Herrera $4,000

MSgt Warren D. Vail, Sr., USAF (Ret)Memorial Scholarship

Winner: Karagan Grace Weld$4,000

CMSgt James C. Kemple, USAF (Ret)Memorial Scholarship

Winner: William Everette Sands III$4,000

CMSgt Ronald R. Applegate, USAF (Ret)Memorial Scholarship

Winner: Matthew David Ortiz$4,000

2019 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

SecretaryCPT Thomas L. Scott, USA (Ret), NCVE

DirectorTSgt Michael M. Buecher, USAF (Ret), CCD

Director

CMSgt Brian K. Rawls, USAF (Ret), NCVE

DirectorGeorgia S. Snodgrass, NCVEDirector

Lt 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

© 2019 Air Force Federal Credit Union. All Rights Reserved.