Want to be even more involved with Peoples FCU?
Volunteer to serve on our Board of Directors or Supervisory Committee.
Credit unions are not-for-profit cooperatives owned by their members, with a Board of Directors who oversee credit union operations. This unique philosophy is what sets your credit union apart from other financial institutions and, without a volunteer Board of Directors, we would not be able to provide low-cost services.
If you’d like to be more involved with your credit union and help Peoples FCU continue to succeed and grow, we encourage you to apply for a position on the Board of Directors.
The following duties of a federal credit union Board of Directors are issued from the National Credit Union Administration, Regulation 701.4:
- The board of directors is responsible for the general direction and control of a federal credit union.
The board may delegate operational functions to management, but not the responsibility for the credit
- A director must carry out his or her duties in good faith, in a manner reasonably believed to be in the
best interests of the membership, and with such care, including reasonable inquiry, as an ordinarily
prudent person in a like position would use under similar circumstances.
- A director must administer the affairs of the credit union fairly and impartially and without discrimination
in favor of or against any particular member.
- A director must have at least a working familiarity with basic financial and accounting practices,
including the ability to read and understand the credit union’s balance sheet and income statement and
the ability to ask, as appropriate, substantive questions of management and auditors.
- A director must direct the operations of the federal credit union in conformity with the Federal Credit
Union Act, NCUA’s Rules and Regulations, other applicable laws, and sound business practices.
- A director may rely on information prepared or presented by employees or consultants the director
reasonably believes to be reliable and competent and who merit confidence in the particular functions
Each member of the Board of Directors is elected by the membership to serve a three-year term. At the next Annual Meeting, held each March, our members will vote on those candidates they wish to represent them on the Board.
The Supervisory Committee is appointed by Peoples FCU’s Board of Directors and is comprised of volunteers who are member-owners of the credit union. Its primary function is to serve as the audit committee of Peoples FCU, ensuring that it is soundly managed and that member assets are safeguarded. To fulfill its function, the Committee will monitor and evaluate the quality of credit union finances, operations, and decisions.