AFFCU Awarded Better Business Bureau Torch Award for Marketplace Ethics

Atlantic Financial Federal Credit Union (AFFCU) has been honored with a 2007  Better Business Bureau (BBB) Torch Award for Marketplace Ethics for demonstrating their long-standing commitment to the standards of trust for a small business.

The BBB Torch Award honors businesses that demonstrate exceedingly high standards of behavior towards customers, members, employees, shareholders and communities; adherence to truthful and honorable advertising and sales practices; and, an earned reputation for noteworthy contributions to their industries and their communities in which they do business.

Presented annually since 1997, an independent panel of judges with expertise in business ethics evaluates the entries against specific criteria, selecting as winners companies from mom and pop businesses, to the largest of employers, and new this year, minority-owned businesses. 

“Each winner is proof that an outstanding reputation in the marketplace leads to long-term success. Businesses that do the right thing have a competitive advantage,” said Angie Barnett, president and CEO of the BBB of Greater Maryland.

Under the leadership of Richard Webb, president, AFFCU has boosted the strength of their financial service organization by eliciting steadfast loyalty of their members, employees, suppliers and vendors, and surrounding communities. For the past two years running, AFFCU members in good standing received excess profits over $1,000,000 in regular dividends and a return of 10% of all interest paid on all loan products and VISA and an additional 10% of all dividends earned on all savings products.

When asked how he felt about Atlantic Financial Federal Credit Union receiving this award, Webb said, “This is an honor to be shared by not just our employees and Board of Directors, but by our 12,000 current members/owners and all future affiliated companies and organizations.”

AFFCU’s commitment to ethics has earned them a first place award of Philosophy in Action by the Maryland & DC Credit Union Association in 2005 for their commitment to the “People Helping People” philosophy. 

The honor was announced at the BBB’s “The Big Event” awards ceremony held at the Baltimore Museum of Industry on September 26, 2007. 

The national Torch Award program was introduced locally by the BBB’s Education Foundation, a non-profit, 501(c)3 organization to give recognition to businesses in Maryland that have demonstrated long term dedication to ethical practices in all aspects of business.