History and Facts
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History and Facts |
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| Yard Wide Federal Credit Union was chartered by the Federal Government in 1966 to serve employees of Colonial Pipeline Company and their families. |
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Philosophy |
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| Credit Unions are non-profit financial cooperatives created to serve the financial needs of members. "People helping people" is the cornerstone of credit union philosophy. Each credit union member buys one membership share for $5 and must always maintain that $5 balance in his share account.. | ||
| Membership is extended to employees of Colonial
Pipeline Company and Yard Wide FCU and their family members; as well as to annuitants who
retire directly from service with Colonial Pipeline Company or Yard Wide FCU. Family
members who are eligible for membership include spouses, children, parents, sisters,
brothers, grandparents, and grandchildren. Our membership policy is "once a member, always a member." By maintaining the required minimum share balance of $5.00 and by keeping your account active, you may remain a member for life. |
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| The credit union is owned by its members and
governed by a member-elected board of directors. Board of Directors Policy for the Credit Union is established by a Board of Directors consisting of five members who are elected on a staggered basis for three-year terms at the credit union’s annual meeting each January. Credit Committee The Credit Committee is elected by the membership and has the final authority to approve loans to members. There are five members of the credit committee who are elected to three-year terms on a staggered basis. Supervisory Committee The Supervisory Committee is appointed by the Board of Directors to conduct spot checks and audits. Additional annual audits are made by an outside auditing firm. Also, federal examiners audit the credit union on an annual basis to insure that all laws and regulations are adhered to. Loan Officers Credit Union staff Loan Officers are appointed by the Directors to speed up loan service to members. Staff Yard Wide FCU maintains an
efficient, experienced well-trained staff with many years experience
in the credit union industry. Any questions or requests may be directed to
any member of the staff. |
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