Introduction The Carilion Federal Credit Union was chartered in 1970. Since our organization, we have continued to offer savings, and loan plans to better serve our members' needs. Unlike other corporate institutions, credit unions are cooperative, democratically controlled organizations which are owned and operated by its members. Members have a voice in the operation of the credit union. An annual meeting is held to elect the Board of Directors. The Supervisory Committee is appointed by the Board from the members. This method gives you, the member, the opportunity to be involved since those persons elected or appointed are responsible for establishing policies and procedures. The staff and Board of Directors welcome you to join our credit union, and invite you to benefit from our various services. We hope to have the opportunity to assist you with your financial needs. Security The National Credit Union Administration (NCUA), a division of the Federal Government, insures each share account to a maximum of $100,000. Each credit union must undergo a thorough examination yearly, by a Federal Examiner. A Supervisory Committee is appointed by the Board of Directors, and is responsible for seeing that the credit union is operated appropriately. This committee oversees and reviews activities and operations, provides for an annual audit, and provides other assistance to the Board of Directors. Communications As a credit union member you will have the opportunity to take advantage of many benefits. We will continuously evaluate our services and strive to offer those we feel will benefit the most members. You will receive newsletters and periodic, special notices to keep you up-to-date on new services, and to communicate to you the happenings within the credit union.