Supervisory Committee

• There is no maximum number required for a Supervisory Committee. Three is a suitable number to enable business to be done.
• The Supervisory Committee is responsible for overseeing the running of the credit union and making sure that the credit union operates within the law, regulation, rules and policies of the credit union and in the interest of the members.
• The duties of the Supervisory Committee are wide ranging, it is therefore important that members of the committee have the necessary skills and time to carry out their role.
• An effective and active Supervisory Committee is fundamental to the ongoing success of a credit union.
• The FSA's Rules for Approved Persons must be complied with.

Duties of the Supervisory Committee

• Provide an internal audit function for the credit union.
• Examination of the books, records, papers and accounts of the credit union including an inspection of securities cash accounts and documents and records relating to loans.
• Ascertain whether or not all the actions and decisions of the officers relating to the affairs of the credit union are in accordance with law and these Rules.

Powers of the Supervisory Committee

• Attend any meeting of the Board of Directors and have the right to be heard.
• Suspend an officer of the credit union and call a Special General Meeting of the credit union to consider the matter.

• Board of Directors
• Credit Committee