HORIZON COMMUNITY IS JOINING THE ARIZONA FINANCIAL FAMILY ON OCT. 1

Updated: September 1, 2022

Dear Clients:

I am happy to announce we have received final regulatory approval for our planned strategic merger with Arizona Federal Credit Union, now known as Arizona Financial Credit Union. Horizon Community Bank will officially become part of the Arizona Financial family on October 1, 2022.

Watch your mailboxes

In the coming days you will be receiving an official Welcome Kit, along with answers to frequently asked questions and information on what to expect in the coming months. For your convenience, you can download a copy of the Welcome Kit today!

The combined organization will have more than $3.3 billion in assets and serve over 155,000 members at 20 branch locations throughout Arizona. We’ll be one of the largest Arizona-based financial institutions, exclusively focused on serving families and businesses here in our home state.

Looking ahead

I’m confident you’ll benefit greatly from the enhanced technology and resources that will become available to you as a result of this transaction. You’ll also continue to see the same familiar faces at our locations as all branches will remain open to serve our communities, and our team members are excited to become Arizona Financial employees – just ask them!

Over the next few weeks, we’ll be updating our building signs, letterhead and statements, website and mobile banking apps with the Arizona Financial logo. Everything will function as it does now, just with a new look. Continue to use your account, checks, and debit and credit cards as you do now.

Account conversion in early 2023

Next spring, we will be converting our banking systems to Arizona Financial’s platforms. You’ll receive more communication about that process well in advance to minimize any inconvenience. In the meantime, we’ve provided answers to some of the frequently asked questions we’ve received below.

Thank you for putting your trust in Horizon Community Bank, and I look forward to keeping you updated on our progress in the months to come.

Sincerely,

Ralph Tapscott
President & CEO
Horizon Community Bank

FREQUENTLY ASKED QUESTIONS

Will my deposits continue to be federally insured?

After the completion of the acquisition, your deposits will be insured by the National Credit Union Share Insurance Fund (“NCUSIF”) and not by the FDIC. All of your current deposits will continue to be federally insured up to $250,000 for each account category through the National Credit Union Administration (NCUA), which administers the NCUSIF. More information about deposit insurance is in the Welcome Kit that was mailed to all clients.

What’s the benefit to me related to this acquisition?

Through this transaction you’ll gain access to an expanded suite of consumer financial services, including loans, insurance, credit cards, investment services and more from the same Horizon team members you’ve grown to know and trust. As a member-owned, not-for-profit financial cooperative, Arizona Financial offers competitive rates and low fees and has a history of returning excess capital to its member-owners through its Member Bonus Payout program. Since 2012, the credit union has returned more than $45 million to members.

Will my account number change?

The account conversion process – which is expected to occur on April 1, 2023 – will require a change to account number structures. We will work to minimize any changes made to accounts. We understand this type of change may cause disruption, so our commitment will be to make any transition as smooth as possible, so you experience no interruption in accessing your accounts.

Will I still be able to use my current checks?

Yes, you will continue to be able to use your current checks following our acquisition. If new checks are necessary after the account conversion is complete, you will receive a complimentary box of checks.

Will I still be able to use my debit card?

Yes, you will continue to be able to use your current debit card following the acquisition. We will provide you with a new card prior to the account conversion, which is expected to occur on April 1, 2023.

Will my online and mobile banking change?

Until the account conversion is complete, which is expected to occur on April 1, 2023, you will continue to access online and mobile banking as you do now. You will be notified well in advance of any changes and whether these changes include any new requirements in accessing your information.

Will there be changes to your hours?

There are no plans to change the hours of operation at branch locations. After the account conversion is complete on April 1, 2023, you will gain access to 24/7 live member service by phone, 14 additional branch locations throughout Maricopa County, and more than 30,000 surcharge-free ATMs.

Treasurer and a Real Treasure

On June 17, 2022, Ross Johnson was awarded the Volunteer of the Year award by the Lake Havasu Area Chamber of Commerce. Ross Johnson’s primary job is as the long-time Executive Vice President and Chief Financial Officer of Horizon Community Bank. “It is rewarding to see Ross get acknowledged for all he does in and for our communities. Ross doesn’t do it for the recognition, he does it because it’s the right thing to do and he cares deeply about the community he calls home – Lake Havasu City.

Ross has likely been Treasurer of half the not-for-profits in town at one time or another. He just started his second term on the Hospice of Havasu board, He’s been the Treasurer of the Lake Havasu City Rotary Club longer than anyone can remember, and he’s also the Treasurer of the Lake Havasu Area Chamber of Commerce. I am sure there are many other past and present organizations Ross has done a budget and then some for.

We are honored to have Ross contributing for our company and our communities. Ross is just an exceptional individual.” Stated Ralph Tapscott, co-worker of Ross’.

About Horizon Community Bank

Chartered in 2002, one of the older charters in the state and one of only 13 charters in Arizona, Horizon Community Bank initially opened in Lake Havasu City and soon expanded throughout Mohave and La Paz Counties. In 2015, Horizon Community Bank entered the Greater Phoenix Metro market. Horizon Bancorp, Inc. was formed in 2005 as the parent or holding company for Horizon Community Bank. As of June 30, 2021, the bank had in excess of $530 million in total assets. Operations consist of six full-service branches, two loan production offices, and a mortgage and operations center. Horizon Community Bank employs a full-time team of approximately 90.

Horizon Community Bank is a full-service financial institution, but the primary focus is on business and commercial banking. The Bank prides itself on employing knowledgeable bankers that act in a client advisory capacity and connect clients and prospects with needed resources. Horizon Community Bank was awarded the SBA’s preferred lender status, operates with a knowledgeable government guaranteed lending division, and this compliments our commercial and business banking offering. Horizon Community Bank has funded in excess of $2.5 billion in commercial loans, allowing business to expand operations, own their own facilities, and employ more people. The Bank has an extensive product mix of treasury management solutions, aimed at making clients’ lives safer and easier.

Horizon Community Bank services its clients’ full needs with a lineup of retail or consumer banking products. This includes a mortgage department offering both traditional and reverse mortgages.

Horizon Community Bank is deeply engrained into the communities we serve, and you will find our banking team involved in, and at leadership levels, in community, service, and civic organizations. We proudly honored the spirit of the CARES Act and assisted thousands of consumers in distribution of funds, and we were the top Arizona based community bank in Paycheck Protection Program funding. Horizon Community Bank funded approximately 950 loans, for almost $95 million, and this assisted in the retention of nearly 15,000 jobs. Our team and their delivery are truly our differentiating factors.

We are locally owned and operated in Arizona, serving the greater Southwest with branches in Fort Mohave, Lake Havasu City, Mesa, Kingman, Parker and Quartzsite, and business loan offices in Goodyear and Phoenix.

We offer a broad range of business banking services, such as small business finance, commercial and industrial business loans, equipment and capital loans, business property mortgage loans, business checking accounts, lines of credit, short-term loans and more.

We also offer personal loans, consumer banking services and mortgage loans.