Be a part of the leadership of YOUR credit union—
Volunteer to join the Supervisory & Audit Committee (SAC)
The SAC stays fully informed as to the financial condition of the Credit Union, ensures accurate records and safeguards member assets. The committee meets quarterly and is invited to monthly Board meetings. Audit or financial background preferred. Women and minorities are encouraged to apply.
The Supervisory Committee is appointed by the Board to:
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Act as the “watchdog” of the credit union to protect and safeguard member assets
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Ensure that records are maintained properly, honestly and accurately
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Make sure that policies are established according to law and carried out faithfully
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Check to see that proper internal controls are in place
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Ensure that members receive the best possible service
Who Can be a Supervisory Committee Member?
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Must be a member of the credit union
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Must be bondable by the credit union’s surety bond company
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Cannot be related to any credit union employee
Duties
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Make recommendations to Board based on findings of auditor and examiner
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Conduct the annual audit/hire auditor (PSCCU SAC hires an Auditor)
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Verification of accounts every two years
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Present report at annual meeting
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Review minutes of Board and Credit Committee meetings
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Review policies and procedures
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Safeguard member assets
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Review Credit Union operations
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Cooperate with regulatory agencies
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Maintain record of all actions taken by Supervisory Committee
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Furnish any documents requested by auditor or examiner
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Term is 3 years
