Governance

AmeriCU is a not-for-profit financial institution owned and governed by our members. Each year at our Annual Meeting, the membership of the credit union votes for members who will serve as Directors on our seven member, all-volunteer Board of Directors. Among other duties, the Board of Directors directs the affairs of AmeriCU according to all laws, regulations, requirements and sound business practices.

The role of AmeriCU’s Supervisory Committee is to perform financial audit oversight, on behalf of AmeriCU’s Board of Directors. The Supervisory Committee is appointed by the AmeriCU Board of Directors. The primary responsibility of the Supervisory Committee is to serve as a means of checks and balances at the Credit Union. We want to make sure you are happy with our products, services and staff at all times. We urge you to contact any member of the staff, management or Board with comments, questions and concerns you might have.

You may contact the Supervisory Committee through email at scommittee@americu.org or by mail to AmeriCU Credit Union P.O. Box 1455, Rome, NY 13441

The Supervisory Committee is responsible for ensuring that the board of directors and management of the Credit Union:

• Meet required financial reporting objectives & establish practices and procedures sufficient to safeguard members’ assets.
• To carry out these responsibilities, the Supervisory Committee must determine whether:
  • Internal controls are established and effectively maintained to achieve the credit union’s financial reporting objectives which must be sufficient to satisfy the requirements of the supervisory committee audits, verification of members’ accounts and it’s additional responsibilities;
  • The credit union’s accounting records and financial reports are promptly prepared and accurately reflect operations and results;
  • The relevant plans, policies, and control procedures established by the board of directors are properly administered; and
    Policies and control procedures are sufficient to safeguard against error, carelessness, conflict of interest, self-dealing and fraud.