Board of Directors
University & Community Federal Credit Union is governed by a volunteer Board of Directors composed of members of the Credit Union. The Board of Directors is elected by the members at the Credit Union’s Annual meeting. It has the authority to set loan amounts or loan ceilings as the Credit Union grows. The interest rate charged on loans and the interest rate paid on deposits are also approved by the Credit Union’s Board of Directors. By this democratic process controlling management is in the hands of the Credit Union members. Each member has one vote regardless of the number of shares owned. The volunteer Board of Directors elects officers from its own membership and appoints a volunteer Supervisory Committee. The President & CEO of the Credit Union reports directly to the Board of Directors.
University & Community Federal Credit Union has a volunteer Supervisory Committee composed of Credit Union members. The Supervisory Committee, which acts as the members’ representative and official auditor, is appointed by the Board of Directors in accordance with the Federal Credit Union Act. It is the committee’s responsibility to ensure that the Credit Union conducts its operations and activities in a safe and sound manner. To achieve that goal, the Committee retains external auditors to review and evaluate the overall financial operations and performance of the Credit Union and its management staff.