What are the Board’s and Committee’s Responsibilities?
The Board of Directors is responsible for setting policies, approving budgets, and helping direct the strategic vision of the credit union. The board directs the credit union in accordance with the federal and/or state credit union acts, by-laws, ethical business practices, and other rules and regulations.
Our Board consists of volunteers, who are members of the Credit Union in good standing, are at least eighteen years of age, and serve a three-year term. Board members are key to the success of our Credit Union and bring a wealth of knowledge, energy, and interest in upholding our mission of providing our members with quality and diverse services, as well as personal attention to their financial needs.
As a 1st Ed board member, you will be expected to attend monthly board meetings as well as participate in other credit union events.
The Supervisory Committee is responsible for ensuring that the Board of Directors and Management meet required financial reporting objectives and establish practices and procedures that safeguard members’ assets. Our Supervisory Committee consists of volunteers, who are members of the Credit Union in good standing, are at least eighteen years of age, and serve a three-year term.
As a 1st Ed supervisory committee member, you will be expected to meet with auditors and attend board meetings periodically.