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| Industrial Distributors Federal Credit Union |
IDFCU Directors
When people say, "this is my credit union" they mean it. Unlike other financial institutions, a credit union is owned and operated by the people it serves.
All credit unions were originally formed by a group of people who decided they wanted to control their own financial destiny. This handful of people provided the initial capital to start the credit union, pool their money as savings and make low-cost loans to each other. Every credit union in the world including IDFCU started this way, and the principle of mutual self-help still applies, no matter how large or how small the credit union.
Three major characteristics distinguish IDFCU from other financial institutions:
1) IDFCU is owned by its members, who democratically control it.
2) IDFCU is a not-for-profit cooperative.
3) IDFCU relies heavily on volunteers for direction.
The aspects of member-ownership and democratic control of IDFCU is most important. This is apparent when we have ballots to elect directors. It is apparent at the annual meeting where members meet to hear reports of board and committee members and vote on credit union issues. Each member has one vote, no matter how much or how little money is deposited or borrowed. Because it is a member-owned cooperative, IDFCU has no inner group of stockholders who benefit personally from its success. After normal operating expenses and allocation reserves, IDFCU's net earnings are distributed to you the member as dividends, reduced interest charges and improved services.
Your board of directors and committee members volunteer their time to fulfill the expectations of the IDFCU membership, ensure quality service, and maintain fiscal safety and soundness. These volunteers are unique in the financial world in that they assume tremendous responsibilities and demanding workloads, without monetary compensation.
Your 2008 Board of Directors:
| Name |
Position |
Committee or Chair |
| Ned Stewart |
President |
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| Leticia Chopka |
1st Vice-President |
Membership |
| Claudia Lipscomb |
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Research and Advisory |
| Nancy Danisek |
Treasurer |
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| Diana Hendricks |
Secretary |
| Jim Langmead |
Director |
Marketing |
| Jeff Sleva |
Director |
Statistical Analysis |
Your 2008 Committee & Chair:
| Name |
Committee |
| Elane Monroe-Johnson |
Supervisory Audit Chairperson |
| Bill Leggett |
Supervisory Audit Committee |
| Linda Jones |
Supervisory Audit Committee |
| Diana Bolden-Lynch |
Loan Review Committee & Loan Officer |
| Rena Johnson |
Loan Review Committee |
| Carolina Holifield |
Loan Review Committee |
Office Staff:
| Name |
Position |
| Nancy Danisek |
Manager |
| Anne Stewart |
Loan Officer |
| Arvanders Harris |
Customer Service Representative |
The board of directors, supervisory committee, loan review committee, management and staff all share the same goal: meeting the financial needs of you the member. The volunteers who accept the most responsibility are those who serve as directors. The directors are elected by the membership at the annual meeting. Following the meeting, these directors convene to elect from among themselves the board's officers: the chair (president), vice-chair(s) (vice-president(s)), secretary, and treasurer. Your board has the duty and responsibility to set direction and control IDFCU according to the wishes of the membership and in accordance with all-pertinent laws and regulations. To accomplish this, they set policies, appoint committees, to carry out the policies. They also decide what programs and services IDFCU will offer. If you are interested in becoming more involved with IDFCU in a director or committee capacity contact the IDFCU office for more information.
* - appointed to serve on the Supervisory Audit committee
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