Bridgeton Onized FCU appreciates and honors their volunteers. Without them we could not exist. We were established in 1939 and since then fabulous volunteers have come and gone. Each volunteer throughout our history has influenced how your credit union operates today. One thing they all have in common is a strong sense of doing what is right and helping people. Wouldn't you like to be a part of that history?
Volunteering at BOFCU
Why Do Credit Unions Need Volunteers?
Credit unions are not-for-profit cooperative financial institutions. They rely on their volunteers to make decisions for the credit union that best represent its ownership. The people that belong to the credit union are owners. They own the credit union. Therefore, the volunteers are voted into office by the ownership whom they will represent. Banks have a group of shareholders that are driven by profit. That profit is shared amongst only the shareholders. Credit Unions have volunteers who are not compensated. All profits made are returned to ALL owners of the credit union in the form of competitive loan rates, share rates and FREE or low cost financial services. Credit unions cannot exist without their volunteers.
Why Would I Want to Be a Volunteer For My Credit Union?
Credit Union volunteers represent the ownership and give direction to what they want from their credit union. Volunteers set the goals and policies that plant the seed of the business model the credit union grows upon. Being a volunteer gives you a voice and a more active role in sculpting a credit union that will best serve the greater community. Haven’t you ever wondered what goes on behind the scenes; what drives the credit union’s progress? Wouldn't it be great to have a voice in how your financial institution operates and grows?
What Qualifications Do I Need to Be a Volunteer?
The best way to represent the entire ownership is to have a diverse group elected to the Board and Supervisory Committee. We have volunteers with in-depth expertise in financial analysis while others have been self-employed and understand how to market a business and manage staff. We have some that work at our SEGs who are huge advocates for the credit union movement and understand how credit unions came into existence. The number one qualification is someone who is an ambassador for BOFCU and wants to influence the direction of the credit union for the good of the ownership as a whole.
How Much Time Do I Need to Volunteer At My Credit Union?
That depends on what capacity you volunteer. Here are some examples:
If you wish to serve on the Board of Directors~ They typically meet every month on the third Tuesday at 6 pm in the evening in the conference room at the Vineland, NJ office for approximately 1 hour depending on the agenda. One week prior to the meeting, a board packet is provided for a review of the agenda, financial data, policies, and other supporting performance reports and articles. The Board chair may call a meeting outside the normal board meeting if circumstances should arise that the board feels it necessary to hold a special meeting. The Board of Directors represents the ownership; hire and evaluate the CEO that will lead the staff in the direction of the credit union’s desired business plan and ensure sound financial decisions that will keep the credit union viable and independent to serve its owners.
If you wish to be on the Supervisory Committee~ They typically meet every Tuesday at 9:30 am in the CEO’s office at the Vineland, NJ office. The length of the meeting varies, but the volunteers are typically asked to give an hour of their time. During these meetings audits, complete by the staff, are reviewed and evaluated. The Supervisory Committee acts as the auditors of the credit union’s internal controls ensuring policies are being followed; confirming documentation of loan files are accurate and compliant with policies; assuring that technology security in place; recruiting and contracting with a CPA firm to perform required annual audits and many other auditing functions.
Not interested in the Supervisory Committee or Board of Directors but wouldn't mind contributing your expertise in other ways? We’ve got more for you! From time to time there are special committees developed to take on various tasks. This could be anything from a task force testing or troubleshooting product performance to a committee researching branch expansion options. If this is where you can volunteer, email email@example.com and express your topics of interest. Please leave your contact information so we will be able to reach you