The Northern Colorado Credit Union Supervisory Committee is made up of volunteers. The purpose of the supervisory committee is to function as the watchdog for the credit union’s member-owners by providing oversight and risk protection.
The NCCU Board of Directors appoints supervisory committee members, and the committee chair oversees the members. Business students are encouraged to join! The time commitment is two (2) hours a month minimum and mandatory attendance at the committee’s quarterly meetings. Aside from scheduled training sessions, a committee member’s volunteer schedule is flexible, as long as it adheres to the two-hour minimum requirement. Supervisory committee members are encouraged to attend monthly board of director’s meetings whenever possible.
Supervisory Committee Chairperson
We currently have an opening for a volunteer to serve as Chairperson of the Supervisory Committe. The Supervisory Committee Chairperson has oversite of the Supervisory Committee (SC) comprised of two or three talented students from the Monfort College of Business at UNC, many of whom are fulfilling their Professional Experience requirements toward their degree. The role of the Chairperson is more of a management function than it is a “hands on” function
Primary SC Chairperson Responsibilities:
- Work with the Board of Directors and other Credit Union volunteers
- Attend Monthly Board Meetings
- Submit a written and/or verbal report to the Board of Directors at each meeting recapping recent SC activities and findings
- Schedule and coordinate the SC meetings and events with the SC members and the NCCU staff
- Manage the SC members
- Ensure the SC members carry out and complete the tasks in the SC Audit Plan
- Assist the SC members with questions and concerns regarding their reviews and audit.
- Update the SC Audit Plan as necessary and as recommended by Federal and State Regulators
- Assist in the training of future SC members
- Meet with regulators during federal or state examinations
- Submit end of term confirmation of SC members time commitments and tasks to designated UNC professors.
Time Commitment Desired:
- Hold quarterly SC meetings. These are typically held for a few hours on a Saturday morning. Breakfast is provided.
- SC members work time is flexible but a minimum of two hours per week is required to fulfill their requirements. The Chairman does not need to present during these work periods but should occasionally drop in to see how they are doing.
- Schedule and attend the annual holiday dinner for the SC team in December. This event is fully funded by NCCU.
- When new SC members come on, the Chairman will spend some time with them to show them how things work. Typically, attending one or two of their first work periods will be enough to get them going. The NCCU staff is there to help in this training as well.
Supervisory Committee Members
General NCCU Supervisory Committee responsibilities include:
- Understanding all audits are sample audits to insure the Credit Union is following set policies and procedures;
- Auditing internal controls;
- Auditing accounting records and expense reports;
- Auditing loan processes;
- Auditing teller procedures; and
- Ensuring all committee processes/tasks are following set procedures and forms.
The supervisory committee has a list of audit tasks that are performed on a monthly, quarterly, and/or annual basis. These tasks include cash drawer counts; validating new accounts, closed accounts, dormant accounts, negative accounts, and new loans; reconciling checking accounts, reviewing investment statements, and auditing monthly expenses paid and insider accounts. The supervisory committee also manages the outside audit function, is responsible for reviewing reports from external auditors.
Please click the link below and fill out all the required fields. Once the document is signed and submitted, we will send an email asking you to verify your email address, which you will need to do before we begin processing your application. If necessary, we will contact you for additional information; meantime, please contact us if you have any questions or problems along the way.