The Supervisory Committee is responsible for monitoring and evaluating credit union activities.  The Board of Directors appoints this committee and works on the member’s behalf to ensure the highest degree of integrity is maintained in the credit union. 

This committee supervises and conducts surprise cash counts at the main office and the branch offices.  The chairperson may attend conferences that will broaden their credit union knowledge.  In addition, the chairperson reviews the annual state examination and is responsible for scheduling the annual audit. 

It is the pleasure of this committee to report that the financial records of the credit union are accurate, and adequate internal controls are consistently used in the daily operations of the credit union. 

The North Carolina Department of Commerce (Credit Union Division) made their examination of your credit union in September of 2006, with no issues or concerns.

The North Carolina Credit Union League was utilized this past year to perform their annual audit and this was performed in April 2006.  Again, no issues or concerns were found in the annual audit report.  The credit union will be utilizing the North Carolina Credit Union League audit department to perform our upcoming audit in April 2007. 

I would like to thank the rest of the Supervisory Committee for their committed support throughout 2006. 

Sincerely,

Brenda Bullock, Chairperson
Amanda Frymier
Dale Beasley