February 2007
Bank Note$ - News You Can Bank On
Greetings from Iraq
Many of our readers have adopted Arlene's nephew, SGT Michael Kulzer, as "their" soldier in Iraq. Because so many of you ask about him on a regular basis, we thought you would enjoy this recent picture. Michael sent Christmas greetings from Iraq, and posed by the Christmas tree that he and his buddies had constructed for the holidays. He said that everybody's mood was festive, despite the war going on around them.
ACB Welcomes Stacey Morrison
Arlene Kulzer, President/CEO of Arrowhead Community Bank, is pleased to announce that Stacey Morrison has joined the bank as Vice President and Compliance Officer. In this position, Stacey is responsible for ensuring the bank is in compliance with all applicable state and federal regulations, as well as providing training and support to the Board of Directors and bank staff in all areas of compliance.
Stacey has more than 18 years of experience in banking. Most recently, she worked in the corporate compliance department for BOK Financial, a multi-bank holding company based in Tulsa, Oklahoma. She began her career with a community bank in her hometown of Denver. She has held several positions, including branch manager and regional operations manager at community banks and large financial institutions.
Stacey attended the University of Southern Colorado in Pueblo, Colorado, and during her career has taken numerous continuing education courses, including Compliance and Advanced Compliance Schools through the American Institute of Banking (now called the Center for Financial Training), which is supported by the American Bankers Association. Morrison plans to realize a longtime goal in 2007 by becoming a Certified Regulatory Compliance Manager.
Pamela Springer to serve on the Arizona Board of Cosmetology
Pamela R. Springer, Executive Director of The Skin & Makeup Institute of Arizona, has received an appointment from Governor Janet Napolitano to serve on the Arizona Board of Cosmetology. Ms. Springer becomes the first in the field of aesthetics to be bestowed with this honor.
The Skin & Makeup Institute of Arizona is located on the southwest corner of 75th Avenue and Greenway Road. The Institute's 6,500 square foot educational facility offers skin care and spa treatments to the public using state-of-the art equipment and procedures such as microdermabrasion and chemical peels. For information call, 623-334-6700 or visit the website at www.smi-a.com.
Volunteer of the Month
ACB commends the spirit of volunteerism that is a driving force in the West Valley. We continue to seek nominations for Volunteer of the Month, and encourage you to come forward with your suggestions. Nominees need not be ACB clients. For each nomination, please include a name, photo, brief bio of your nominee, and a short explanation as to why you are submitting his or her name for consideration. All nominations should be sent to Arlene Kulzer, Arlene.Kulzer@arrowheadcommunitybank.com. A Volunteer of the Year will be named in June and announced in the July 2007 Bank Note$. A check for $1,000 made payable to the non-profit organization of the winner's choice will be awarded.
Thanks for Your Support
ACB's lobby served as a collection site for Homeward Bound's annual Baby Diaper Drive, and the response from our friends and clients was terrific. Heather Innis, Business Development Specialist, says "Homeward Bound assists homeless and domestic violence families with children throughout Maricopa County. We appreciate all you did to help, and we hope you continue to support the efforts of Homeward Bound to make life a little better for all the kids in our community."
For more information, visit www.babydrive.org or call Heather Innis at 623-776-0800, ext. 104.
WVAM Student Art Show
After a year of "drop in" drawing classes that have steadily increased in size at West Valley Art Museum, Executive Director/Curator David Tooker suggested that an exhibition be held to show what the students have been doing. The drawings in the show run the gamut from fast gesture drawings done in a minute or two, to longer studies in media from pencil to black and white paint. The Life Drawing Student Art Show runs through April 25.
The life drawing class meets on Tuesday evenings at 6:30 and is $20 for each two and a half hour session. George Palovich is the instructor. For additional information, call 623-972-0456 or visit the Museum's website at www.wvam.org.
Are You Ready for Some Baseball?
ACB is going to be a sponsor of the Spring Training Charity Opener at the Peoria Sports Complex on Thursday, March 1, 2007. This will be the first game of the 2007 Cactus League Season as the San Diego Padres and the Seattle Mariners step up to the plate.
As part of our sponsorship of the Charity Opener, we will have 100 lawn or bleacher tickets available for clients. If you are interested in attending the game, please stop by the Bank to request tickets.
The Peoria Sports Complex is located on 83rd Avenue, just south of Bell Road.
Home Inspections Are Not Appraisals
A property appraisal is a document that provides an estimate of a property's market value. Lenders require appraisals on properties prior to loan approval to ensure that the mortgage loan amount is not more than the value of the property. Appraisals are for lenders; home inspections are for buyers.
The Federal Housing Authority (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD), requires lenders to obtain appraisals of properties securing FHA-insured loans. FHA requires appraisals for three reasons:
- To estimate the market value of the property.
- To make sure that the property meets FHA minimum property requirements/standards (health and safety).
- To make sure that the property is marketable.
The FHA appraisal process will note property deficiencies that are readily observable and found not in compliance with HUD's minimum property requirements/standards. These deficiencies may not be the same as those items noted in a home inspection report.
For additional information, and for assistance with all your mortgage needs, call 623-776-3814, or email Bill Smith at bsmith@arrowheadcommunitybank.com .
"There are two ways to live your life. One is as though nothing is a miracle.
The other is as though everything is a miracle."
- Albert Einstein
