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:
“The newly-formed clothing unions are ready to welcome her; but woman shrinks back from organization, Heaven knows why! It is perhaps because in organization one find the truest freedom, and woman has been a slave too long to know what freedom means.”
—Katharine Pearson Woods (1853–1923)
“I will never accept that I got a free ride. It wasn’t free at all. My ancestors were brought here against their will. They were made to work and help build the country. I worked in the cotton fields from the age of seven. I worked in the laundry for twenty- three years. I worked for the national organization for nine years. I just retired from city government after twelve-and-a- half years.”
—Johnnie Tillmon (b. 1926)
“Since wars begin in the minds of men, it is in the minds of men that the defences of peace must be constructed.”
—Constitution of the United Nations Educational, Scientific, and Cultural Organization (UNESCO)