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 credit union business.
A nine-member board of directors is elected by the membership and is made up of unpaid volunteers. Their function is to see that policies are carried out.
Other volunteers involved are appointed to committees such as the Credit Committee and the Supervisory or Audit Committee. Other committees may be appointed as deemed necessary.
Even though these people are volunteers, they are working volunteers who spend many hours within the credit union offices. Anyone with a desire to be a volunteer should be certain of the duties and responsibilities involved with any position assumed.
WHO CAN BECOME A MEMBER OF CAL-COM FEDERAL CREDIT UNION?
Anyone who lives, works, worships, or attends school in, and businesses and other legal entities located in Calhoun, DeWitt, Goliad, Jackson, Lavaca, Refugio and Victoria counties and their immediate families or household.
ONCE A MEMBER - ALWAYS A MEMBER
Once you join Cal-Com FCU, you do not have to close your account if you move out of the membership area. Lifetime membership is available as long as you do not close your account.
National surveys show that credit unions overall charge lesser fees than other financial institutions and at Cal-Com FCU we are always looking for new ways to serve our members and pride ourselves on our one-on-one professional service. Become a part of a growing credit union where you are not just a number, you are an owner. Join Cal-Com Federal Credit Union today.