See what's happening at Arkansas Federal

Routing Number: 282075028

1st Quarter 2019 Banner Newsletter

January 2, 2019 | newsletter

Boost! up to 2.30% APY - Get more with Rewards Plus Checking.

Not getting enough from your current checking account? At Arkansas Federal, you earn up to 2.30% APY1 on balances up to $24,999.99.

  • 24/7 Access so you can Check Balances, Transfer Funds, Pay Bills
  • Online via Desktop, Tablet and Mobile Apps for Android and iPhone
  • Free Mobile Deposit right from your phone

Plus you earn reward points toward travel, electronics and much more just for using your account.

Start earning today. Call, come in, or visit for details.

1. APY = Annual Percentage Yield. Rewards Plus Checking is a tiered variable rate product. To qualify for the 2.30% APY Rewards Plus checking account, members are required to complete 10 monthly transactions of at least $1.00 each, defined as: ACH, direct deposit, bill pay, debit card (used as debit or credit), and checks. Members who currently have a Rewards Plus checking account that is inactive can qualify for the offer by meeting the same criteria. 2.30% APY currently applies to balances of $0 - $24,999.99. Balances $25,000.00 and more earn 0.25% APY. Fees could reduce earnings. Earn 1 point for every $2.00 spent through your Arkansas Federal debit card. A monthly fee of $12.50 applies if daily balance drops below $2,500.00. Offer and rates subject to change. Certain exclusions may apply. Federally Insured by NCUA. Rates as of January 2, 2019.

Protect - Payroll Advance

Impacted by the Government Shutdown?

Any full-service Arkansas Federal members who are impacted could be eligible to receive a match to their pre-established direct deposits. In other words, if you have an established checking account with Arkansas Federal in good standing with a direct deposit from the US federal government, then you may be eligible for your credit union to assist with a short-term, interest free loan.

Any member impacted by the government shut down should contact us through the various channels available to them, including:

Arkansas Federal will work one-on-one with each member to help solve the challenge that they or their families are presented.

Thank you for your membership, and know that your credit union stands ready and willing to be the difference for you and your family.

Our Money Market account is what membership is all about - rewarding our members with high dividend rates. This is a limited-time special offer, so open your new Money Market account today to start earning more.

Term APY1
Less than $1,000.00 - $9,999.99 1.00%
$10,000.00 - $24,999.99 1.05%
$25,000.00 - $49,999.99 1.30%
$50,000.00 - $99,999.99 1.35%
$100,000.00 - $249,999.99 1.60%
$250,000.00 - $499,999.99 2.00%
$500,000.00 & Greater 2.25%

Learn more about our Money Market accounts.

1. APY = Annual Percent Yield. $10,000 minimum deposit of new money required to receive promotional 2.25% APY. New money is defined as money that has not been on deposit at Arkansas Federal Credit Union during the past 30 days. Earn a 2.25% APY rate for the first 120 days. After the promotional period ends, account will revert to the regular Money Market account with standard rates. Refer to rate sheet for details. No minimum balance requirement. $10 monthly fee if daily balance drops below $2,500 balance. Limited 6 total withdrawals per month. $3 fee for additional withdrawal. If excessive withdrawals occur, the account could be converted to a Member Freedom Money Fund. Membership with Arkansas Federal Credit Union is required for this offer. Federally Insured by NCUA. Rates as of January 2,2019.

Nurture up to 3.00% APY - 25-Month Certificate with Active Checking.

A smart investment. What membership is all about.

Start earning today. Call, come in, or visit for details.

1. APY = Annual Percentage Yield. All certificates are federally insured by NCUA. 25-Month Share Certificate: To qualify for 3.00% APY, you must have an active checking account. Active checking account is defined as having a direct deposit of $500.00 or greater to the checking account, or 10+ transactions per month in the respective checking. Refer to the rate schedule for full details. Offer and rates are subject to change without notice. Early withdrawal will result in decreased APY. Fees may reduce earnings. Early withdrawal penalties may apply. $1,000.00 minimum deposit to open a share certificate account. Membership with Arkansas Federal Credit Union is required for this offer. Federally Insured by NCUA. Rates as of January 2,2019.


A friendly reminder that all Arkansas Federal branches will be closed:

Martin Luther King Day - Monday, January 21
Presidents' Day - Monday, February 18

Home Equity Loan as low as 1.99% APR

Looking to pay down some debt or invest in a remodel in 2019? Borrow up to 95% of your home's value. Arkansas Federal gives you the tools you need to get the job done with a home equity line of credit.

1. APR = Annual Percent Rate. Subject to credit approval. Offer subject to change. Restrictions may apply. Home Equity Line of Credit: Home equity line of credit has a variable rate based on Prime, as published in the Wall Street Journal, and subject to change during the term of the loan. The minimum monthly payment may change as a result of this rate change. Contact the credit union for more details. Introductory Rate: Introductory rate available for six months after the loan is funded. At the beginning of the seventh month, your regular rate will go into effect. As of December 19, 2018, the prime rate was 5.50%. Other terms, rates, and restrictions may apply. APR will not exceed 18% with a minimum rate of 4.00%. Existing Arkansas Federal home equity lines/mortgage loans are not eligible for refinance with this promotion. Rates as of January 2, 2019.

Apply for the Scholarship Application

Scholarship Applications Now Being Accepted

With the overwhelming success of our scholarship program, your credit union is expanding the scholarship opportunities in 2019. Your credit union will be awarding two (2), $5,000 scholarships. One scholarship will be awarded to a graduating high school senior and the second scholarship will be awarded to a non-traditional student.

Graduating High School Senior? For complete eligibility and application details, download traditional scholarship application.

Non-Traditional Student? Have you decided to start your college career later in life, then our non-traditional scholarship is for you. For complete eligibility and application details, download non-traditional scholarship application.

The deadline for submitting applications is Friday, March 15, 2019.

Take Advantage of Free Credit Reports

Did you know you are entitled to one free credit report from each of the three nationwide credit bureaus (Equifax, Experian and TransUnion) every purchase necessary?

By taking advantage of this free service, you can monitor your credit, watch for fraud or identity theft and enjoy peace of mind knowing where you stand.

Order your FREE credit report online at or call toll-free (877) 322-8228. You may also request your free annual credit report by mail by completing the Annual Credit Report Request Form and mailing it to:

Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281

We recommend you spread out your free credit report requests approximately every four months throughout the year. This way you can manage your credit on an ongoing basis instead of receiving all three reports at the same time.

Power of Attorney Tips

A Power of Attorney (POA) is often times a misunderstood document. A POA provides the authority to act for another person in specified or all legal or financial matters. It can be very useful to have in place should a need arise where you are unable to take care of yourself. Here are a few tips to keep in mind when it comes to a Power of Attorney.

Planning - the key to using a Power of Attorney is planning. Many people start considering the use of a POA after a need arises, which often times is too late. Develop a plan of action that you can have ready in advance. Bring a copy of your POA to one of our locations so we can maintain a copy in your member file.

Selecting an Agent - An Agent acts on your behalf is the most important step. Make sure it is someone you can trust and is willing to take on this role. Re-evaluate the document on a regular basis and update as needed.

Choosing the proper form - In most cases it may not be a good idea to use a form you find online. The form might not conform to state law. It likely will not detail the powers you wish to give making it unclear. Detailing the powers you wish to give is extremely important to make sure your directions are observed accordingly. You may consider seeking legal advice from an attorney who is experienced in drafting these documents. This may save money and grief in the long run.

Selecting the Type of POA - There are various types of powers of attorney, and the one you choose depends on your situation. For instance, a POA that is not durable is automatically revoked if you become mentally incapacitated. On the other hand, a durable POA remains in effect even if you become incapacitated and provides clarity if you are unexpectedly not in a position to manage your finances. Consult an attorney to determine which type of POA is the best fit for you.

Revoking - If you choose to revoke or replace an existing Power of Attorney then make sure you do so in writing. Then give a copy to any entity that may have a copy of the original Power of Attorney. You can also put an expiration date on the Power of Attorney. Keep in mind upon the death of the Principal the Power of Attorney becomes void.

Board of Director Nominations

The nomination process for the Board of Directors election was announced in the September 30th member statement and in the October issue of the Banner newsletter. Two, three-year positions expire in 2019. Volunteer applications received by Friday, November 9, 2018 were reviewed by the Nominating Committee. At the November meeting of the Board of Directors, the Nominating Committee presented the following candidates:

Garold WhiteGAROLD L. WHITE (Incumbent)

Why are you seeking election to Arkansas Federal Credit Union's board of directors?

The Board of Directors is responsible for developing strategies, implementing policies and providing governance for our 104,000-member credit union. My leadership has helped manage the exceptional growth of our financially sound and world-class financial cooperative. I am your advocate for expanding services, adding new products and new branches. I presided over asset growth from $50 million to more than $1.2 billion and staffing of nearly 300 professionals. I want to continue representing you on the board using my experience and my gifts and talents to ensure Arkansas Federal meets your personal financial needs.


  • Retired - Lieutenant Colonel, U.S. Air Force, 27 years active duty
  • Retired - 18 years, President and Managing Partner, Royal Events, North Little Rock


  • Master of Business Administration, Southern Illinois University - Edwardsville
  • Bachelor of Arts, Business Administration & Accounting, Seattle University
  • Air Command and Staff College; Air War College
  • Continuing advanced education at numerous credit union conferences and seminars


  • Almost 30 years of experience on the board serving in all board offices
  • Former Chairman, Arkansas Federal Credit Union Audit Committee
  • Started Project Healing Waters chapter at the North Little Rock VA serving as program lead for six years
  • Many professional, community and church activities


  • New branches in Hot Springs, Maumelle and Midtown Little Rock
  • Complete remodels of Little Rock, North Little Rock, and Fort Smith branches, and a partial remodel of the Bryant branch

Jerry E. SprattJERRY E. SPRATT (Incumbent)

Why are you seeking election to Arkansas Federal Credit Union's board of directors?

To ensure the continued safety of the members' funds, strong growth, increased/easier access to member services, high competitive deposit rates, low loan rates, to be the best Arkansas employer, and improvement in the financial lives of our members.


  • President, Spratt Financial Forensics, Inc.
  • Owner, Jerry E. Spratt, CPA
  • Owner, Jerry E. Spratt Farms


  • MBA, University of Central Arkansas
  • BA, Hendrix College
  • Numerous Credit Union Educational Programs


Credit Union Volunteer Expert, Public Accountant, Fraud Examiner, Financial Forensics and Crimes, Internal Controls, Financial Services, and Government Management


Arkansas Federal Credit Union Board/Audit Committee serving annually as one of the following: Member/Treasurer/Secretary/Vice Chairman/Chairman, 1996-2018 Arkansas Society of Certified Public Accountants (ASCPA), Board Director 2007-2010, Vice President 2014, President-Elect 2015, President 2016, Committee Member/Chair Professional Ethics, Audit, Strategic Planning and Finance Member of seven Professional Accounting Associations, Covenant Presbyterian Church Former Member, Arkansas National Guard 148 Evacuation Hospital Unit During my 22 years of service with Arkansas Federal, the credit union has: Offered many new services including Rewards Plus Checking, Member Freedom accounts, reward programs, free online banking, bill pay, iPhone & Android apps, 24-hour loan service, anytime dealer financing, remote deposit, more ATMs, and home, auto & life insurance products Continued to open many new branches Grown to Arkansas's largest credit union with more than 100,000 members and $1 billion in assets


In accordance with your credit union bylaws, nominations for vacancies may also be made by petition. Any member wishing to be nominated by petition for an open position on the Board may contact the Administration Department of Arkansas Federal Credit Union by calling 501-533-2274 or 501-533-2270 to request a Nomination by Petition packet. This packet includes the Rules and Guidelines as well as the petition. For a petition to be valid, it must include a minimum of 500 signatures of primary members in good standing as of the date of the petition signature.

The petition must be signed by the nominee indicating willingness to serve if elected, and include a statement of qualifications. Completed petition packages can be sent via mail to the Secretary of the Board of Directors at Arkansas Federal Credit Union, P.O. Box 9, Jacksonville, AR 72078, or dropped off in person at the corporate office to the Administration Department at 2424 Marshall Rd, Jacksonville, AR 72076. The petition package must be received no later than Monday, February 11, 2019.


If an election is necessary, ballots will be mailed no later than Tuesday, February 26, 2019, to members in good standing as of January 31, 2019. All qualified ballots received by midnight on Saturday, March 23, 2019, will be counted. The Annual Meeting is scheduled for Thursday, March 28, 2019, at 2:00 p.m. in the Board Room at Arkansas Federal Credit Union's Headquarters in Jacksonville, where election results will be announced.

Volunteer Officials

Board of Directors
Phillip B. Boudreaux, Chairman of the Board
Garold L. White, Vice Chairman
Art Williams, Secretary
Jerry E. Spratt, CPA, CFE, CGFM, CFSA, Treasurer
William G. Shrigley, Director

Supervisory Committee
Jon Moore, Chairman
Don Greene, Secretary
Vanessa R. Vance Hatcher, Member
Garold L. White, Member