Become A Supervisory Committee Member
Nominations for Supervisory Committee members open in April of each calendar year. Nominees are appointed to the Supervisory Committee by the Credit Union board of directors for the purpose of ensuring the Credit Union meets required financial reporting objectives and adheres to practices and procedures sufficient to safeguard members' assets.
ELIGIBILITY IS SIMPLE
Nominees must meet the minimum age requirement of 18 years as of the election date and be a member in good standing, defined as follows:
- $10 minimum balance in savings.
- No delinquent loans.
- Has never caused loss to the Credit Union.
Additional skills and abilities of qualified nominees include, but are not limited to:
- Ability to understand and analyze financial statements.
- Understanding of generally accepted accounting principles, especially with respect to estimates, accruals and reserves.
- Experience with risk management processes and internal controls.
TIME COMMITMENT WILL NOT INTERFERE WITH YOUR BUSY SCHEDULE
Supervisory Committee members are appointed to two-year terms. If appointed nominees should be prepared to attend quarterly committee meetings and periodic credit union operations review meetings. Quarterly committee meetings are held virtually on a weekday evening. Periodic Credit Union operations review meetings occur in-person at Credit Union branch locations during regular business hours.
OPPORTUNITY TO CONTRIBUTE
Supervisory Committee members safeguard member assets by ensuring the Credit Union is operating properly. The Supervisory Committee has broad oversight authority to hold a credit union’s board of directors and senior management accountable for fulfilling their responsibilities in the interests of the credit union’s members, and for operating according to sound business, ethical, and regulatory standards.
YOUR VOICE IS NEEDED
As a member of the Supervisory Committee, your voice will have an important role in ensuring the Credit Union's financial integrity. You will help verify the accuracy and fairness of the credit union's financial statements, evaluate the effectiveness of management's policies and procedures, monitor management's compliance, and confirm the integrity of other systems and controls.
Let us know if you are interested. Please submit a brief resume/biography to Supervisory Committee Chair c/o Betty Myers, located at our Clinton, MD office, 7905 Malcolm Rd. Suite 311 Clinton, MD 20735. Interested members meeting eligibility requirements will have their names referred to the board of directors for consideration.
Have more questions or need more details? We are happy to speak with you to answer any questions you have about volunteering for the Supervisory Committee. Please contact us anytime you are ready to talk about volunteering at USPS FCU.