Compliance Blog

Supervisory committees are like car engines.  They are common; every credit union has one.  They are mandatory; cars must have one to move, and credit unions must have a supervisory committee as required by law.  But ask people how their engine, or supervisory committee works, and you may find some puzzled looks.

While I cannot get into every aspect of supervisory committees, I thought I would at least share some good resources. 

• NCUA created the Supervisory Committee Guide for Federal Credit Unions. You can access it here.  Is it thorough?  Yes.  It is more than 350 pages long.
• Part 715 of NCUA's rules and regulations, which governs Supervisory Committee audits and verifications.  You may access it here.
• Your bylaws have a good amount of information as well.  Here's a link to NCUA's bylaw homepage.
• There's also chapter 7 of the NCUA Examiner's Guide, which is devoted to the Supervisory Committee.  You can access the entire guide here.

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On Sunday, the Compliance Guy managed to finish the Cherry Blossom 10-miler.  2 hours and 7 minutes.  The winner, Ridouane Harroufi, finished in just over 46 minutes.  At that point, I was just about to finish mile four.  He averaged a 4 minute, 38 second mile for the entire race. Amazing!