01 November 2022
Volunteering with the Credit Union
Enniskillen Credit Union are currently seeking volunteers to sit on our board of directors. Further information can be found bellow.
If you are interested you can get in touch using our contact us page here: Contact Us
A director of a credit union is a member of the board of directors (committee of management) which is responsible for the general control, direction and management of the affairs, funds and records of the credit union and shall perform such functions as prescribed by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) (the Regulators) from time to time and more particularly shall complete tasks, some of which are listed in the Task section below
Tasks and responsibilities
- decide on applications for membership but for this purpose may decide on the appointment of a membership committee or membership officer
- make decisions in regard to applications for loans within the limit on loans prescribed under the Order and for this purpose decide on the appointment of a credit committee, or loan officer or officers if the credit committee so recommends;
- determine the amount and character of the surety bond required in respect of any person who has custody of the funds or other property of the credit union, and authorise the payment of the premium or premiums thereon by the credit union
- determine from time to time the rate of interest on loans to members
- determine from time to time the maximum number of shares within the limits prescribed by the Regulators which may be held by any member
- determine from time to time the maximum amounts which may be on loan at a particular time to a member in respect of both secured and unsecured loans
- determine from time to time the maximum amount which may be accepted on deposit from a person too young to be a member within the limit prescribed by the Regulators; and
- make decisions in respect of the investment of surplus funds of the credit union including the appointment of an investment officer or committee or expert to handle the investments of the credit union
