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MANCHESTER CO-OPERATIVE CREDIT UNION (1977) LTD.
THE ROLES OF THE BOARD AND COMMITTEES
Board of Directors rules of the League and other relevant
legislation are complied with.
• The business of the Credit Union shall be
conducted by the Board of Directors, which • Recommending amendments to Rules.
shall be elected at the Annual General Meeting
of the Credit Union. The major functions of the • Ensuring the provision of competent and
Board of Directors are as follows: adequate personnel and facilities for efficient
operation of the Credit Union.
• Overall leadership, direction and control of the
affairs of the Credit Union. • Monitoring and evaluating the performance of
the Credit Union.
• Development of policies to guide the success-
ful operations of the Organization. • Ensuring that members’ funds and the assets
of the Credit Union are adequately protected.
• Deciding on the long-term goals and objec- • Appointing relevant committees to assist the
tives of the Organization and planning for its Board’s functioning
achievement.
• Equipping themselves with the requisite skills
• Reporting to members at Annual General and knowledge to effectively perform their
Meetings. functions.
• Ensuring that the Credit Union’s Rules, the Co- • Attending the requisite courses for certification
operative Societies Act and Regulations, the as Credit Union Professionals.
Credit Committee • Recommending amendments to the Credit
Policy, where necessary.
• The Credit Committee shall be elected at the
Annual General Meeting of the Credit Union. • Evaluation and decision making on member
The committee has overall responsibility for loan requests
the Loan Portfolio and Credit Administration of
the Organization, guided by the Credit Policy • Conducting interviews with loan applicants
approved by the Board of Directors. The where required
functions of the Credit Committee include:
• Determining the adequacy of security for loans
• Studying and implementing the Credit Policy
of the Organization. • Ensuring that delinquency is effectively
controlled through the committee’s evaluation
and approval of loans.
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“Where Service Exceeds Expectation”
