April 2020 Newsletter

April 2020 Newsletter. Market update, Alliance Articles, Meet Clay - VP of Accounting


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The Federal Open Market Committee(FOMC) held an unprecendented 2 Emergency Meetings in March lowering the Fed Funds rate to between 0.00-0.25%. Subsequently, We have seen deposit rates across the country fall quickly. The DOW plunged from just under 30,000 down to 20,000 between the middle of February and the middle of March. We have seen some rebound over the last week, but a long recovery period is expected. Congress passed the $2T Stimulus Package on March 30th that will include checks to consumers that are expected to arrive in late April or early May.

With many communities implementing "Stay at Home" orders, we are beginning to see the effects of reduced spending on the national economy. Long term effects remain unknown. Trump has extended risk-mitigation efforts through the end of April and has predicted that recovery will begin around the 1st of June. This seems optimistic, but having a date in mind might erase some consumer tension.

Consumer confidence fell, unsurprisingly from 130.7 to 112.5 over the last month, and unemployment rose by 0.2% to 3.7%. Pending home sales rose in February by 2.4%. The price of oil is continuing to hover around $20 a barrel, the lowest rate in nearly 20 years. It's going to be a bumpy ride, but we have shown resillience before and will bounce back from this as well.'


  • Understanding the New W-4
  • Learn Financial Literacy @ Home

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What's going on at ALLIANCE?!

We want to reassure you that as a financial institution ALLIANCE Credit Union is classified as an essential service and will remain open

Though our branches are closed to members without an appointment, our drive-thru's, eSolutions Center and all remote access channels will remain open and available to our members during this crisis. For the most up-to-date COVID-19 news from ALLIANCE follow us on social media or click here

Looking for ways to keep your kids engaged while they're home from school? Get the whole family involved by taking the ALLIANCE Financial Literacy Challenge!

Meet Clay - VP of Accounting @ ALLIANCE

Meet Clay, Vice President of Accounting at ALLIANCE Credit Union

Clay began working at ALLIANCE in February of 2013 as Collections Officer, moved to Staff Accountant, and is now the VP of Accounting.

Clay is passionate about the Credit Union movement because he believes ALLIANCE provides the best service and experience for our members. He also is a big supporter of ALLIANCE being a not-for-profit financial institution where we give back to our members and the community.

For Clay, a typical day outside of work is usually a busy one. He has four children that keep him on his toes. They are involved in multiple extracurricular activities, So most of his time is spent taking them around town.

When asked who Clay admires most, he said his grandmother. "When i was growing up, she always working two jobs to provide everything her family would want. She would go without to provide for her family/" From the conversation with Clay, She seems to be a very loving lady.

What motivates Clay to go to work every day is his family and his love for what he does at ALLIANCE. He said he is one of the "odd ones" who really enjoys numbers and accounting. Clay also gets to see how everyones's jobs contribute to the whole through numbers.

Clay has experienced lots of growth at ALLIANCE. Through his roles at ALLIANCE, he now has a better understanding of the background of where the money comes from and how to use it best for the advantage of our members.

Looking into the future, Clay is most excited about the continued growth of ALLIANCE."We've been growing consistentyly since I've been here, and growth gives us greater opportunities to serve our members on a wider basis."


Documents Available to Members. Upon request. a member is entitled to review or receive a copy of the most recent version of the blowing credit union documents:

  • Balance sheet and income statement (the non-confidential pages of the latest cal report may be given to meet this requirement)
  • A summary of the most recent annual audit completed in accordance with 91.516 of this chapter (relating to Audits and Verification)
  • Written board policy regarding access to the articles of incorporation. bylaws. rules. guidelines. board policies. and copies thereof. and
  • Internal Revenue Service Form 990

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