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:
“To fight oppression, and to work as best we can for a sane organization of society, we do not have to abandon the state of mind of freedom. If we do that we are letting the same thuggery in by the back door that we are fighting off in front of the house.”
—John Dos Passos (1896–1970)
“The art of government is the organization of idolatry. The bureaucracy consists of functionaries; the aristocracy, of idols; the democracy, of idolaters. The populace cannot understand the bureaucracy: it can only worship the national idols.”
—George Bernard Shaw (1856–1950)
“The organization controlling the material equipment of our everyday life is such that what in itself would enable us to construct it richly plunges us instead into a poverty of abundance, making alienation all the more intolerable as each convenience promises liberation and turns out to be only one more burden. We are condemned to slavery to the means of liberation.”
—Raoul Vaneigem (b. 1934)