What is the Board of Directors?

The board of directors approves the strategy and the policies of the credit union. An annual meeting is held to elect board members to fill vacancies in the board.

All members of LCCU are invited to this meeting and have the right to vote (minimum age 16 years) and are also eligible to be elected to the board (minimum age 18 years).

Members of the board of directors serve for a term of three-years that can be renewed. They meet at least once a month. Board members are all volunteers.

Credit and Supervisory Committees

The Credit Committee is in charge of making decisions about the loans that the credit union makes to its members.

The Supervisory Committee ensures that the decisions made by the board of directors and the work of the employees are in compliance with the laws and regulations. They also serve the function of internal auditors.