The Supervisory Committee of Madison County Federal Credit Union is comprised of volunteers who are appointed by the Board of Directors to represent our members. The committee’s primary responsibility is to ensure that members’ funds and interests are fully protected at all times. To accomplish this goal, the Supervisory Committee performs several specific duties, including:
• Overseeing an annual independent audit of the credit union
• Verifying member accounts
• Reviewing internal systems and controls
• Ensuring that all policies and procedures are followed
• Following through on official member complaints
The Supervisory Committee works closely with our auditors and federal examiners, confirming the reliability of controls in place and the consistency of the credit union’s protection processes. Along with participating in monthly board meetings and planning sessions, the Supervisory Committee serve members on an individual basis.