The Board of Directors establishes and revises policy, sets dividend and loan rates, and directs the operations of the Credit Union. These officials volunteer their time, service, and expertise. The board meets at least monthly for approximately 1 & 1/2 hours, plus time to review materials ahead of the meetings. The board selects from its members to fill two standing committees, the Asset Liability Management Committee (ALCO) and the IT Security Committee. The ALCO committee meets at least monthly for approximately an hour, plus time to review material ahead of time. The IT Security Committee meets several times a year and on an ad hoc basis. These time commitments are for illustrative purposes only. Actual time commitments will vary.
Directors are elected by members of the credit union. They serve for 3-year terms.
Congratulations to our 2024 Board of Election winners: Kenneth Franklin, Winona Varnon, and Evangeline Edwards! We thank you for your service to the Credit Union.
The Supervisory Committee serves as the audit arm of the credit union. Five credit union members are selected by the Board of Directors to serve on the Supervisory Committee. The committee engages the CPA firm that conducts an annual financial statement audit and the verification of member accounts.
If you have a question about your statement, activity on your account, or other service-related matters you have not been able to resolve using normal credit union channels, then you may submit your concern in writing to the Supervisory Committee. The Supervisory Committee will be happy to investigate your question.
Contact the Supervisory Committee by emailing supervisorycommittee@frbfcu.org
