THE BOARD OF DIRECTORS
The Board of Directors is one of three volunteer bodies within a co-operative worldwide. This body is dubbed the brain of the Credit Union or the policy makers. Its ranking officers in most co-ops are the President, Vice President, Treasurer and Secretary. Continuous Education being one of the basic tenets many co-operatives form an Education Committee which is an ad hoc committee drawn from the Board of Directors.
The Supervisory Committee is yet another volunteer body within a Credit Union. It essentially is a supervisory and compliance committee is dubbed the eye of the Credit Union or its watch dog. Though the Supervisory Committee submits reports to the Board of Directors, it may act independently of the Board to ensure compliance.
The Credit Committee complements the other two volunteer groups and is dubbed the heart of the Credit Union. The Credit Committee balances its analytical skills with a heart when deliberating on members’ loan applications.