Cooperative Center Federal Credit Union

Annual Report 2018

Issue link:

Contents of this Issue


Page 2 of 5

2019 Nominating Committee Report The appointed Nominating Committee for Cooperative Center FCU Board of Directors 2019 Elections has completed the vetting and selection process for two (2) applicants who submitted full and complete application packages. Full background checks have been ordered and are pending return. Additionally, two (2) incumbent candidates will be included on the ballot. The names of the candidates who were voted by the Nominating Committee to be "eligible candidates," along with two (2) incumbent candidates, are put forth to stand for election to the Cooperative Center FCU Board of Directors. Their names appear below in alphabetical order: Jackmon, Amira | Leung, Michael Matthews, Deborah | Palmer, Jesse To contact the credit union Nominating Committee, you may write to: Cooperative Center Federal Credit Union Attn: Hemby Whitten, Nominating Committee Chair 2001 Ashby Avenue, Berkeley, CA 94703 At your service, Hemby Whitten Nominating Committee Chair Willie Phillips, Committee Member Tureeda Mikell, Committee Member "I have been a member for many decades. I got my first credit card and other loans here. Both of my children have their first accounts here. Cooperative Center FCU has been a wonderful contributor to our family life! Thank you for everything." William M., Cooperative Center FCU Member Supervisory Committee Report Per the Federal Credit Union Act, National Credit Union Administration (NCUA) regulations, and Cooperative Center FCU Bylaws, the Supervisory Committee (Committee) is appointed by the Board of Directors and tasked with ensuring credit union practices and procedures are sufficient to safeguard member assets. The Committee develops and implements an annual work plan, completes training and works closely with the CEO and management team to gain the operational insights necessary to meet our responsibilities. As part of the Committee's obligation to complete a Supervisory Audit, we contract with an independent CPA firm, review the audit outcomes, and act as a liaison between credit union management, the auditors, and federal examiners to ensure that any audit exceptions are addressed. Further, the Committee reviews NCUA examination results, oversees management responses and reports to the Board of Directors. The Committee is also entrusted to perform or oversee audit, accounting and operational functions including but not limited to: • Annual Verification of Member Accounts (Loans and Shares) • Review of monthly corporate account reconciliations • Verification of cash and negotiable instruments • Coordinate any additional regulatory audits included in the Committee's work plan or required by the Board • Respond to all questions or concerns submitted to us by members regarding account discrepancies or governance of the credit union Turner, Warren, Huang and Conrad (TWHC), a professional corporation of Certified Public Accountants, completed the annual Verification of Member Accounts effective March 31, 2018, and the Supervisory Committee audits effective June 30, 2018. Further, the National Credit Union Administration annual examination showed the credit union to be safe and in good condition. Adequate controls exist to protect member assets and the financial statements accurately represent the financial condition and performance of your credit union. Should you require the assistance of the SC, you may contact us directly via our designated committee mail box or by emailing us as follows: Supervisory Committee, Cooperative Center FCU P.O. Box 3445, Berkeley, CA 94704 Email: During 2018, the Committee was composed of the following members: • Tom White, Chair • Tyisha Johnson • Alejandro Soto-Vigil Mr. Soto-Vigil has vacated his position on the Committee. We thank him for his service as a credit union volunteer. We are actively seeking interested member volunteers for our Committee. Your contribution of time, talent and skills can make a meaningful difference to the credit union. If you would like to learn more about the Committee or you would like to be considered, please email, or call Rhonda Redo, Administrative Manager, at 510-295-1645. On behalf of your Supervisory Committee, we want to say thank you for your membership and active participation in using the many products and services offered by Cooperative Center Federal Credit Union. At your service, Tom White Chair, Supervisory Committee

Articles in this issue

Links on this page

view archives of Cooperative Center Federal Credit Union - Annual Report 2018