Become a Lanco FCU Credit Union Volunteer
You are needed!
Members like you are volunteering to support the credit union difference
Lanco FCU members play an important role in the oversight of the credit union. The credit union’s Board of Directors and Supervisory Committee are comprised of member-volunteers, who serve to help ensure the credit union is operating in the best interest of its membership and staying true to its mission.
What makes a credit union different than a bank?
The big difference between banks and credit unions is what happens to the income generated when you borrow or save. Banks are for-profit, which means the bank’s leadership is charged with maximizing income from its customers and passing those earnings to the bank’s shareholders. In contrast, credit unions are not-for-profit. This means when the credit union earns income from its members, the credit union’s leadership is accountable for passing those earnings back to its members.
What do credit union volunteers do?
You can be confident the credit union’s leadership is living up to its mission thanks to members, just like you, who serve voluntarily on the credit union’s Board of Directors or Supervisory Committee. These two governing bodies make sure your credit union is operated securely, and in conjunction with Lanco FCU’s management team, they help to shape the vision for how the credit union can best benefit its members.
Right now, our volunteer leaders need your help
Lanco FCU is currently looking for members to serve as Associate Board Directors and Supervisory Committee Members. Not sure you’re qualified? Don’t worry, new volunteers can begin learning the role through participation alongside the experienced volunteers leading the credit union today. If you’re eligible and you have the time to serve, your fellow volunteers and the team at your credit union will happily assist as you develop the needed skills over time.
Associate Board Director
The purpose of the Board of Directors is, on behalf of the membership, to ensure that the credit union reaches its agreed-upon goals in the best interest of the membership. The Board meets once per month to review the progress of the credit union toward its strategic objectives.
Like full Board Directors, Associate Board Directors are volunteers and have the same duties and responsibilities with the exception of voting rights. Associate Board Directors are part of the credit union’s Board succession plan which allows individuals to gain in-depth knowledge of Lanco Federal Credit Union and the business of financial services to prepare for a position as a voting Board Director.
Associate Board Directors have the opportunity to participate in meetings and board activities to learn how the Board functions in its role of providing guidance and counsel to the credit union management.
Supervisory Committee Member
The Supervisory Committee is responsible for ensuring that the credit union is operating in a safe and judicious manner and in the best interest of the membership. Committee members review the operations of the credit union and conduct audits to see that the credit union complies with federal rules and regulations and the policies set forth by Lanco FCU’s Board of Directors.
Who is eligible to volunteer?
Individuals meeting the following criteria are eligible for candidacy:
- Must be at least 18 years old
- Must be a member of Lanco FCU
- Must not be a family member or significant other of any Lanco FCU employee or volunteer.
- Must have no financial obligation with any institution, company or agency extending credit, which is or has been delinquent more than two consecutive monthly payments at any time during the past four years and have no previous
- Must have no present obligation with Lanco FCU that is delinquent more than one
- Must pass background checks and qualify for bonding.
- Must have no felony convictions or pending felony
- Must sign a confidentiality agreement if selected.