AFFCU Chairman of the Board selected as a 2023 Hall of Honor inductee by Defense Credit Union Council
SAN ANTONIO, TX (June 20, 2023) — Air Force Federal Credit Union (AFFCU) is proud to announce that Colonel Sam V. Farace Jr., USAF (Ret), Chairman of the Board, will be inducted into the Defense Credit Union Council’s (DCUC) Hall of Honor. The induction will take place at DCUC’s Annual Conference in Colorado Springs, Colorado from August 7-11, 2023.
“I am humbled and extremely grateful to accept this honor. I thank DCUC and the selection committee. I would also like to express my congratulations to the other honorees,” said Col Farace. “AFFCU is committed to assisting our community and serving its diverse needs. This honor is a recognition of the contributions of all the volunteers and employees of AFFCU.
A major factor in the selection committee’s decision was Col Farace’s strong advocacy for AFFCU’s sponsorship and participation in numerous programs supporting military and veteran communities, such as the Honor Flight of San Antonio trips and AFFCU’s bi-weekly personal finance classes for airmen at JBSA-Lackland which earned the credit union the Military Saves Designation of Savings Excellence award.
“I am inspired by Col Farace’s commitment, leadership, and empathy,” said Ryan Ross, AFFCU CEO. “The honor is well deserved and reflects the best of our organization’s values. I know the whole team joins me in congratulating our Chairman of the Board for this distinction.”
Col Farace served a 28-year career in the United States Air Force through various leadership positions such as Assistant & Deputy Commander and Commander in the Aircraft Maintenance, Logistics, and Resource Management fields. During his service, he earned 13 Military Decorations, including the Legion of Merit honors, and received both the “Maintenance Daedalian Award” for the Best Maintenance Organization in the Air Force for two consecutive years and the first Secretary of the Air Force Unit Quality Award.
Col Farace also served 28 years on the AFFCU Board of Directors in positions such as Treasurer, Vice Chair, and Chairman, and received the Credit Union Services Award certification and the Board of Directors and Leadership Awards from the Texas Credit Union League and the Credit Union National Association (CUNA). His leadership at AFFCU was instrumental in its asset growth from $139 million to $650 million in assets, with membership increased by 21,500. Since orchestrating the Select Employee Group (SEG) partnership between the Airman Heritage Foundation and AFFCU, more than 35,000 members have joined AFFCU’s membership, resulting in donations totaling $875,000 in support of the USAF Airman Heritage Museum new build project.
“Each of this year’s nominees are incredibly accomplished and true leaders within the credit union movement,” said selection committee member Ronald Belle, President/CEO of AmeriCU CU. “The impact they have made at their credit unions and across the credit union industry is an inspiration.”
To learn more about the 2023 Hall of Honor Inductees, visit DCUC.org.
Colonel Sam V. Farace Jr.
About Air Force Federal Credit Union (AFFCU)
Established in 1952 by 10 airmen on JBSA-Lackland, AFFCU has grown to serve the diverse needs of almost 55,000 members with a full array of financial services, seven financial center locations, and the strength of more than $670 million in assets. As a member-owned and not-for-profit organization based in San Antonio, AFFCU is passionate about assisting the communities it serves through volunteer work, scholarships, and sponsorships. AFFCU is federally insured by NCUA and an equal opportunity lender. For more information about AFFCU, visit goaffcu.com.
