Volunteers provide the important function of checks and balances for a credit union. Whether making sure operations and finances are in order, or helping a fellow member appeal a loan decision, volunteers are important to the success of LGFCU.
The Supervisory Committee's primary duty is to inspect the Credit Union's records for accuracy, its assets for security, and its procedures for the proper handling and use of funds. The Committee uses the services of a CPA and oversees clerical and auditing personnel hired by the Committee to complete its audit responsibilities.
When a loan officer in a branch office denies a member's loan or credit card application, the member has the right to appeal the decision and ask for the Loan Review Committee (LRC) to review the action. The LRC has the authority to uphold the original decision and deny the loan, or to decide to approve the loan. Each committee member serves a two-year term and is appointed by the Board.