Supervisory Committee Purpose & Recruitment

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Supervisory Committee Purpose & Recruitment

Serving as members' representatives through independent oversight, accountability, and governance.

About

What is the Supervisory Committee?

Credit Unions were formed in a cooperative effort to assist communities with financial services in a democratic structure. The Supervisory Committee along with the Board of Directors serve as the members’ representative in oversight of the management of the organization.

These volunteers give their time, energy, and effort to ensure that the mission and purpose of service is carried out from both a regulatory compliant and member service perspective. With engaged and active communication, they work with Austin Telco FCU management and outside vendors to evaluate, address, and facilitate best practices for smooth, secure, and effective operation of the credit union.

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Actions & Responsibilities

What does the Supervisory Committee do?

On a monthly basis, the Supervisory Committee meets in-person at Austin Telco FCU’s headquarters with members of the executive team. Their primary points of contact are the Chief Financial Officer (CFO) and AVP of Administration. The Supervisory Committee also has contact with the Board of Directors as a board member attends all Supervisory Committee meetings in order to provide a monthly report to the Board of Directors.

Key initiatives of the Supervisory Committee include engagement with a third-party accounting and auditing firm in coordination with the CFO, responding to National Credit Union Administration (NCUA) on member complaint management, and learning the high-level operations of Austin Telco FCU for any potential future Board opportunities. Additionally, Committee members may be involved in any whistle-blower policy and response as part of their role.

Commitment

What does it take to be on the Supervisory Committee?

1-Year Terms

Supervisory Committee members typically serve 1-year terms but may be asked to serve additional terms after the credit union’s annual meeting.

Monthly Meetings

Supervisory Committee meets monthly at the credit union’s headquarters to review relevant items, including all applicable activity and audit reports. It is crucial for members of the Supervisory Committee to attend these meetings.

Compliance Training

Supervisory Committee Members are also responsible for completion of all required compliance courses as determined by regulators and credit union guidance to ensure understanding of respective policy, procedures, and protocols.

Strategic Planning & Conference Attendance

Supervisory Committee Members are expected to travel and attend multi-day strategic planning session on an annual basis. Supervisory Committee members may be asked to travel and attend regulatory conferences to keep current on prominent issues and matters of industry performance and operations.

Apply for a position on the Supervisory Committee

Complete the application below to be considered for the volunteer position.

Recruitment & Selection

How do you join the Supervisory Committee?

When vacancies occur on the Supervisory Committee, the Board of Directors, through Austin Telco FCU management, will notify members of the vacancy. Austin Telco FCU management will engage membership through normal communication channels providing the opportunity to volunteer for consideration.

Austin Telco FCU provides an opportunity for any member of the credit union to submit an application for positions on the Committee. It is strongly encouraged that volunteer applicants have an understanding of credit unions as financial institutions and be willing and able to make the necessary time commitment.

Applications will be reviewed by the Board of Directors and may contact any volunteer applicant for discussion on their interest in the Committee along with their experience and/or skillset that makes them best suited for the opportunity.The Board of Directors in coordination with Austin Telco FCU management, will then notify those person(s) who are asked to serve.

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Vacancy Announced

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Member Applies

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Board Reviews

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Appointment!

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