ST ALBANS DISTRICT

CREDIT UNION

135 Hatfield Road, St Albans, Herts. AL1 4JX :

Phone: 01727 859135 : Fax: 01727 859135

Email: office@stadcu.org

Management of the Credit Union

BACK

Every Credit Union has a formal management structure which is required to report regularly to the Financial Services Authority and to prepare audited accounts.

The Credit Union Board is responsible for the management of the Credit Union.  It is assisted by various committees, especially the Credit Committee, responsible for approving and monitoring loans and the Supervisory Committee which is responsible for internal audit.  All Board and Committee members are unpaid volunteers. Members of the Board and of the Credit and Supervisory Committees are all “approved persons” authorised to act by the Financial Services Authority.

There is an Annual General Meeting at which every full member can vote. The meeting, which is normally held in February or March of each year, elects members of the Credit Union Board and main committees.  All full members are sent details of the AGM, including the date and meeting agenda.

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The Credit Union encourages members to take a part in its management by serving on the Board and Committees and in other voluntary capacities.

The Credit Union also has the benefit of a part time paid office manager responsible to the Board for the day to day running of the office.