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A Credit Union is a member owned democratic, cooperative organization. A Credit Union operates on the funds that members deposit. Those deposits are loaned to other members to generate income. That income is used to provide dividends to members along with additional services. Required reserves must also come from that income.
Each year an annual meeting is held to inform the membership of the past year's progress and to give the members an opportunity to ask questions about the credit union operations. Each member has one vote when it comes to electing directors or voting on other matters regarding the credit union.
Cal-Com has a nine member board which is elected by the membership and are strictly unpaid volunteers. Their function is to see that policies are carried out.
As a member of a credit union, you are an owner. You are the reason we are in business. We look forward to serving your financial needs. |
