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:
“Prostitution is the most hideous of the afflictions produced by the unequal distribution of the world’s goods; this infamy stigmatizes the human species and bears witness against the social organization far more than does crime.”
—Flora Tristan (1803–1844)
“The village had institutionalized all human functions in forms of low intensity.... Participation was high and organization was low. This is the formula for stability.”
—Marshall McLuhan (1911–1980)
“The methods by which a trade union can alone act, are necessarily destructive; its organization is necessarily tyrannical.”
—Henry George (1839–1897)