Credit Committee

Purpose

The Credit Committee supervises loans to members. It consists of five (5) members elected at the Annual General Meeting. This Committee meets weekly.

To ensure:

  1. that loans made to members will benefit borrowing members
  2. that such loans can be repaid within the prescribed repayment periods; and
  3. that the loan portfolio of the Credit Union is properly supervised.

 

The Members of the Credit Committee for 2016-2017 are as follows:

Supervisory Committee

Protecting your accounts and your funds is a primary goal of Mt. Pleasant Credit Union. To do this, MPCU has a Supervisory Committee that serves as a “watchdog” for the credit union.

Purpose

To serve as Internal Auditors of the Credit Union

All audit results and their management recommendations are reviewed by the Supervisory Committee and forwarded to the Mt. Pleasant Credit Union Board of Directors.

Education Committee

This committee is appointed by the Board at its first inaugural meeting after the Annual General Meeting. The board appoints five members, however more can be co-opt by the committee.

The Committee is responsible for

  1. The promotion of educational seminars and conferences for the General Membership in financial planning, retirement planning, life skills, etc.
  2. Facilitating short courses in various vocation skills. e.g. drapery, baking, motor-vehicle repairs, etc.
  3. Facilitating orientation seminars for the board and committee after each Annual General Meeting.

Delinquency Committee

This is a Board appointed Committee set up to oversee/manage the arrears portfolio of the Credit Union.

The committee’s responsibilities includes:

  1. Reviewing accounts in arrears and recommending actions to be taken on these accounts.
  2. Educating members in understanding the importance of repaying their loans in a timely manner.
  3. Working with members who are in arrears to become members in good standing once more.
  4. Keeping the arrears portfolio within the set prudential standards.

Regularly reviewing the delinquency policy and making recommendations for updating in keeping with the ever changing economic environment.