BOARD OF DIRECTORS: Board members work as a team to help drive the mission of the credit union forward with a focus on multiple areas including but not limited to policies and budgets.
SUPERVISORY COMMITTEE: Responsible for reviewing the practices of the credit union staff and Board of Directors to confirm the requirements of the National Credit Union Administration (NCUA) and the policies and by laws of the Tennessee Members 1st Federal Credit Union are in compliance. Choice
ASSET LIABILITY MANAGEMENT (ALM): Responsible for reviewing the work of credit union consultants who recommend the reserve amounts the credit union should maintain based on the number and types of loans the credit union makes.
INVESTMENT COMMITTEE: Responsible for reviewing the recommendation(s) to the President/CEO for purchase of investments to utilize monies not being used for loans.
SECURITY/IT: Responsible for the reviewing work of credit union consultants and internal staff in addition to review and recommendation of services, purchases, and policies to the Board of Directors for the security of credit union information technologies.
MEMBER SERVICES: Reviews current services, member suggestions and/or concerns as well as new trending services in the financial marketplace to advise and recommend changes to the Board of Directors.
BYLAWS: Makes an annual review, required by NCUA, of credit union bylaws including recommendations to the Board of Directors for needed changes.
CAPITAL EQUIPMENT, COMPENSATION & BENEFITS, BUDGET: The primary budget committee which, with the credit union staff, sets the initial budget for Board approval and advises the President/CEO of pertinent issues for capital equipment and compensation.
POLICIES: Makes an annual review, required by NCUA, of credit union policies including recommendations to the Board of Directors for needed changes. Additionally, under the leadership of the President/CEO, the committee suggests and drafts new policies as required.
REAL ESTATE & FACILITY MAINTENANCE: Surveys the physical needs for the credit union and proposes changes, budgets and practices to better utilize and maintain credit union physical assets.
NOMINATIONS: Members of this committee work with the Board of Directors to propose candidates to fill the upcoming vacancies for the various committees.
