The Secured Advantage Federal Credit Union Board consists of nine members who are elected at the annual meeting. Board service is a three-year term commitment. Board members are the leaders of the Credit Union and as such are expected to attend every board meeting. The Board of Directors guides policy, appoints committees, conducts the annual meeting and keeps the charter and by-laws updated as needed. Other responsibilities include but are not limited to:
5 or more members
The Legislative Issues Committee remains aware of and informed of legislative issues relating to the financial industry and/or credit unions specifically. Above all else, this committee is responsible for ensuring that all Secured Advantage board and committee members are up to date on the legalities of their duties.
Meets on an as-needed basis
The Special Events Committee is responsible for planning the Annual Meeting and Credit Union Day. They are also responsible for selecting gifts for our events as well as planning and promoting any additional Credit Union events or community outreach projects.
President/CEO, plus 3 or more members
Responsibilities include quarterly evaluations of the training and/or educational needs of all volunteers and allocation and disbursement of funds for education as approved by the annual budget. This committee reports quarterly to the Board of Directors on training and education status.
The Supervisory Committee carries out all duties outlined in the National Credit Union Administration manual “Supervisory Committee Guide for Federal Credit Unions”. Some of these duties will be contracted out to an independent auditor. This auditor will report to the Supervisory Committee. The Supervisory Committee then reports a summary of these findings to the Board of Directors. One member of the Board of Directors is permitted to serve on this committee while still serving on the Board of Directors.
President, Vice President, Treasurer, CFO, CEO, and 3 or more members
The Committee Chairperson may appoint non-board Credit Union members to serve on this committee. The Committee is authorized to carry out all duties and responsibilities outlined in the Investment/Financial Policy manual.