The Supervisory Committee is made up of five member/volunteers appointed by the Board of Directors. The committee's role is to ensure that the credit union operates within the regulations governing federally chartered credit unions. To carry out its responsibilities, the Supervisory Committee meets monthly with the credit union management to review financial reports and review policies and procedures that control day-to-day operations. A committee member is also present at monthly Board of Directors meetings.
One means by which the Supervisory Committee accomplishes its role is by contracting with a certified public accounting firm to conduct an annual independent financial statement audit of the credit union. This independent financial audit is not mandated by regulations, but is highly recommended; and it is separate from, and in addition to the annual regulatory compliance examination performed each year by the National Credit Union Administration (NCUA).
In addition to working with the auditors and examiners, the committee relies on credit union membership to review their periodic statements of account and to report to the committee any discrepancies or concerns. All member inquiries are strictly confidential and will be answered. If you do not receive a statement of account at least quarterly, you should immediately contact the Supervisory Committee or credit union management. It is also very important that you notify the credit union of any address changes to facilitate prompt mail delivery.
Alan Kosoff, Advisory Member
John Keisler, Advisory Member