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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.
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.
- Volunteers must complete CUNA VAP Module V300: Supervisory Committee Duties & Responsibilities within the first 90 days of service.
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, and assists with drafting the credit union’s response alongside the CEO.
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.