Who is in charge?
 Board
of Directors
Each credit unions is run by its members. They elect a Board of Directors
and other Committees at Annual General Meetings. At the AGM the Directors
are elected for a three year period, ensuring that one third of them
are rotated annually, this to maintain experience. At their first meeting
following the AGM the Directors then elect the following posts:
- Chairperson
- Vice Chairperson
- Secretary
- Assistant Secretary
- Treasurer
- Assistant Treasurer
An Annual General Meeting must be held within 6 months of the end of
the financial year that runs from 1st October - 30th September. We hold
our AGM generally in February each year.
Llandudno & Districts' rules permit a maximum of 15 and a minimum
of 5 directors. Our rules have been developed from guideance received
from ABCUL, our trade association and accepted by the FSA. All Directors
are members, unpaid volunteers and from the local community. They are
also provided with appropriate training in order to discharge their
responsibilities as highlighted below:
- Act as guardians of member funds and interests.
- Serve the needs of members
- Make decisions
- Develop the Credit Union
 Credit
Committee
A maximum of 6 and a minimum of 3 members are permitted by our rules.
They are elected at the AGM. They are members who are volunteers and
unpaid. Their primary duties are:
- Consider loan applications
- Report regularly to the Board of Directors
- Make recommendations on loan policy to the Board.
Supervisory Committee
Our rules state that there must be 3 members which constitute this
committee. They are elected in the same fashion as described for the
Board of Directors and Credit Committee. Their primary duties are:
- To investigate and check policies and proceedures (internal audit)
- To monitor the Union's operations (internal control system)
- To advise and report to the Board of Directors regularly
The Llandudno & District Credit Union has amassed a great deal
of knowledge and experience both before and since its existance in 1996.
You can be assured your savings are in safe hands.
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