Organization
South Carolina Federal is a community-chartered credit union. This means South Carolina Federal can serve anyone who lives, works, worships or attends school within certain community boundaries as defined by the NCUA. (See “Membership” below.)
Credit unions are owned and governed by the people who use its services. Those people are called “members” and each member is an equal owner of the institution. Members elect and serve as the credit union’s volunteer board of directors, which establishes and reviews policies, based on what is best for the collective membership.
South Carolina Federal’s Supervisory Committee, made up of volunteers appointed by the board, is responsible to ensure that the credit union’s financial condition is presented accurately in financial statements and that management practices and procedures safeguard members' assets.
Read more about this topic: South Carolina Federal Credit Union
Famous quotes containing the word organization:
“Your organization is not a praying institution. It’s a fighting institution. It’s an educational institution right along industrial lines. Pray for the dead and fight like hell for the living!”
—Mother Jones (1830–1930)
“The Red Cross in its nature, it aims and purposes, and consequently, its methods, is unlike any other organization in the country. It is an organization of physical action, of instantaneous action, at the spur of the moment; it cannot await the ordinary deliberation of organized bodies if it would be of use to suffering humanity, ... [ellipsis in original] it has by its nature a field of its own.”
—Clara Barton (1821–1912)
“Democracy is the wholesome and pure air without which a socialist public organization cannot live a full-blooded life.”
—Mikhail Gorbachev (b. 1931)