Board Of Directors

The LCCU Board of Directors, which is elected at the Annual General Meeting, currently consists of seven members of the Credit Union and is legally responsible for the policy-making and effective day to day running of the Credit Union. There are two Sub-Committees included in the Board, which support the work of the Credit Union. The Loan Committee is responsible for processing loan applications under the loan policies adopted by the Board of Directors, whilst the Supervisory Committee acts as an internal auditor and carries out regular checks of members’ records to avoid malpractice and provide assurance. The LCCU has three Supervisory Officers who fulfil this function.
The Board must comply with the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA). The Board consists of elected officeholders, namely the Senior Manager/Complaints Officer, Secretary, Treasurer (vacant), Money Laundering Officer, Administration Officer and Compliance Officer (vacant). All Board members are volunteers who contribute their spare time to support and further develop of the credit union. There can be other Sub-Committees to meet arising identified needs of the Credit Union and these are put in place as required. Directors and Sub-Committee members of the Credit Union are volunteers and are not paid but can claim out of pocket expenses. The work of the LCCU is also supported by a team of volunteers, all of whom are also credit union members. Volunteers facilitate weekly credit union evening business sessions, providing clerical support and undertaking cashier duties and banking reconciliation. There are a total of five active volunteers who currently act as cashiers.

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Given its dependence on volunteers for its operation, the credit union is always very
keen to hear from more members who can spare a few hours each week to help. Please complete the form below to get more information about volunteering with us!