| Title: | DCU |
| Notice: | 1996 BoD Election results in 1004 |
| Moderator: | CPEEDY::BRADLEY |
| Created: | Sat Feb 07 1987 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1041 |
| Total number of notes: | 18759 |
From: US2RMC::"[email protected]" 31-OCT-1994 09:47:01.32
To: wldbil::kilgore
CC:
Subj: Supervisory Committee Vacancy
Bill,
Please could you post this notice in the DCU notesfile.
Thanks,
Dave
DCU NOTICE
----------
From: David J. Garrod, Secretary DCU Board of Directors
Subject: Supervisory Committee Vacancy
Date: 29-Oct-1994
The DCU Supervisory Committee currently has an opening for a
term that expires in April 1995. The DCU Board will appoint a
replacement committee member at its regularly scheduled board
meeting on November 28th. The process to fill this voluntary
position is as follows:
1) Anyone that is interested in applying for the opening
should send a letter stating why they wish to
volunteer and how they expect to contribute to the
committee. Please include a brief resume.
DUE DATE: End of business, Friday November 11th
TO:
Stephanie Duggan
Executive Secretary
Digital Credit Union
141 Parker St
Maynard MA 01754
In addition you may also optionally forward a copy of
your application by email to myself at
US1RMC::"[email protected]".
2) The Board will consider the submissions of all
applicants.
3) The Board will appoint a replacement committee member
by voting on the applicants at the November 28th Board
meeting.
Attached is a document describing the Supervisory Committee's
function and responsibilities.
If you have any questions regarding this opening please
direct them to Stephanie Duggan (Tel: 1-800-DCU-8797 x203 or
DTN: 223-6735 x203) or to myself (US1RMC::"[email protected]").
Sincerely,
David J. Garrod
Secretary DCU Board of Directors
Digital Employees' Federal Credit Union
Supervisory Committee Overview
COMMITTEE MEMBERS:
- Five member committee
- All must be credit union members
- Each member is appointed to a three year term by the Board
of Directors
FUNCTION AND SOURCE OF RESPONSIBILITY:
The Supervisory Committee monitors the credit union's
activities to ensure its safety and soundness. The
responsibilities of the Supervisory Committee are established
and/or detailed in the following documents:
1) The Federal Credit Union Act.
2) National Credit Union Administration Rules and
Regulations.
3) Digital Employees' Federal Credit Union Bylaws.
4) Supervisory Committee Guide for Federal Credit Unions.
DUTIES AND RESPONSIBILITIES:
1) Ensure that management adequately addresses the
establishment and maintenance of the internal control
structure.
2) Engage an independent accounting firm to perform the
annual audit (approval for compensation needed from the
Board).
3) Act as a liason between management, the Board of Directors
and the independent auditors
4) Maintain open lines of communications with independent
auditors and federal regulators.
5) Responsible for seeing that a periodic review and
verification of member accounts occurs (every two years at
a minimum).
6) Responsible for overseeing that the internal audit
function is adequately staffed and performed (in
conjunction with the President/CEO).
7) Authorized to call a special meeting of the members, for
cause (to consider violations of laws, regulations, bylaws
and/or policies) and/or suspending any director, executive
officer or credit committee member for cause (unaminous
vote required). These situations are rare.
8) The time commitment for the Supervisory Committee members
is approximately one day each month - 1/2 day for
preparation and 1/2 day for attending actual meetings.
Please note that occasionally, as situations arise,
additional time may be necessary.
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% Date: Mon, 31 Oct 1994 09:40:30 -0500
% From: [email protected]
% Sender: [email protected]
% Message-Id: <[email protected]>
% To: wldbil::kilgore
% Subject: Supervisory Committee Vacancy
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 900.1 | Appointment to DCU Supervisory Committee | WRKSYS::SEILER | Larry Seiler | Thu Dec 01 1994 12:41 | 20 |
Folks, I just received an official letter stating that I have been chosen to serve on DCU's Supervisory Committee. The packet includes a set of policy statements that I must sign, and an announcement that the next SC meeting is Tuesday, December 6th, from 8:30-10:30 at DCU HQ. The following note contains the letter that I sent to the DCU Board requesting that I be appointed to the Supervisory Committee. I am posting it because I feel that the membership deserves to know my qualifications and goals. I feel that the role of the SC is to watch over the way that the DCU Board and management conduct their business, on behalf of both the membership and regulatory agencies. The membership deserves to know why I think I can help do this. The complete text of this note and the following one may be forwarded to any Digital employee or DCU member. Regards, Larry Seiler | |||||
| 900.2 | My letter to the Board re the SC vacancy | WRKSYS::SEILER | Larry Seiler | Thu Dec 01 1994 12:43 | 104 |
198 Linden Street
Boylston MA 01505
November 1, 1994
Stephanie Duggan
Executive Secretary
Digital Credit Union
141 Parker St
Maynard MA 01754
Dear Ms. Duggan,
I would like to be considered for appointment to the DCU
Supervisory Committee (SC). I feel that I have qualifications and
interests that will benefit the SC and the DCU. The following are
some of my qualifications and experience that I feel are relevant to
this position:
o I have been a Digital employee for 14 years and I have been a
member of the DCU for 11 years. Over the past three years I have
been closely involved with the DCU and have done my best to
encourage openness and member focus in the operation of the DCU.
o My job title is Consultant Engineer. My responsibilities include
designing workstation graphics systems and evaluating graphics
technology. This is a fairly high profile job, so I am used to
some of my actions and recommendations having wide visibility.
o I have extensive experience with committee work. During the past
year I have been a member of five committees and have chaired four
of them. I am currently a member of four committees, of which I
currently chair three, including my group's Employee Involvement
Committee and the Board of Trustees of a community theater.
o For three years I have chaired my church's Staff-Parish Relations
Committee. This committee evaluates the minister's performance,
makes salary recommendations, and resolves disputes between groups
and individuals within the church. I expect this experience to be
particularly relevant to serving on the SC.
o My educational background includes a Doctoral degree in Computer
Science from the Massachusetts Institute of Technology, and
Bachelor's and Master's degrees in Engineering and Applied Science
from the California Institute of Technology.
o Finally, and perhaps most importantly, I am able to reason
logically and express my thoughts clearly. Further, I have a
great deal of experience at working with people of differing
backgrounds than mine and combining their ideas with my own.
Page 2
I am volunteering to serve on the SC because I am very interested
in the health of the DCU and I feel that I could contribute a lot as a
member of the SC. As I understand it, the purpose of the SC is to
keep watch over processes and controls at the DCU, but not to get
involved in setting policy. This suits me very well, since I have no
great interest in establishing policy, but I do have a great interest
in seeing that decisions are arrived at and carried out in a proper
fashion. If I am appointed to the SC, the following are some of the
things that I would like to do:
. Help ensure that proper financial controls and reports are in
place and that they are being tracked and evaluated properly.
. Help ensure that the Board gathers necessary data and uses
appropriate processes in conducting its business.
. Help ensure that the membership is informed about all decisions
and actions at the DCU that are legal and proper to reveal.
. Help ensure that the actions of the SC itself are as open to
membership review as they can be.
I realize that only the first of these four items is mentioned in
the Bylaws as a specific duty of the SC. However, my other goals seem
to me to be consistent with the duties of the SC as specified in the
Bylaws and in the memo regarding the SC vacancy. In particular, the
SC is expected to report to the Board, bring serious issues before the
membership at special meetings, act as liason between management,
Directors, and auditors, and maintain open lines of communications
with independent auditors and federal regulators. The element that I
would like to add to this mix is the membership at large -- I feel
that open communications with the membership are essential to the
success of any credit union.
Sincerely,
Larry Seiler
| |||||
| 900.3 | Excellent! | AWECIM::MCMAHON | Living in the owe-zone | Thu Dec 01 1994 12:57 | 7 |
Larry,
Even though we've never met personally and my only knowledge of you is
through notes (and the patent board in HLO2), I feel that your
appointment to the SC is a big step in the right direction.
Congratulations! And thanks for applying in the first place!
| |||||
| 900.4 | MOLAR::DELBALSO | I (spade) my (dogface) | Thu Dec 01 1994 13:40 | 2 | |
Congratulations on your appointment, Larry. I'm glad to see you there. -Jack | |||||
| 900.5 | Great! | MROA::CESARIO | Vinyl Dinosaur | Thu Dec 01 1994 16:31 | 8 |
I echo the previous congrats. And Larry...
Enjoy!
Lou
| |||||
| 900.6 | ROWLET::AINSLEY | Less than 150 kts. is TOO slow! | Thu Dec 01 1994 21:40 | 5 | |
Larry,
This is good for the membership and DCU.
Bob
| |||||
| 900.7 | LJSRV2::KALIKOW | Brother, can youse paradigm? | Fri Dec 02 1994 06:37 | 3 | |
Guess it's high time I reinstated my DCU membership & put some money
back into it via a payroll deduction...
| |||||
| 900.8 | it's time to start believing in DCU again | BUELL::dehahn | Buell American Motorcycles | Fri Dec 02 1994 08:48 | 5 |
Another nail in the coffin of the old DCU. Congrats, and good luck, Larry. Chris | |||||