MCEFCU is owned and governed by its members. Members exercise their democratic control of the Credit Union by attending the Credit Union Annual Meeting and electing the Board of Directors from among their number. The Board’s function is to provide general direction and control of the affairs of the Credit Union. Members serving on the Board do so in a voluntary capacity, and are not compensated.

Federal Credit Unions like ours are members of a nationwide system established by an Act of Congress. MCEFCU is chartered and supervised by the National Credit Union Administration. NCUA performs annual examinations of the Credit Union’s records, policies and procedures. This ensures the Credit Union’s financial soundness and verifies operations are conducted in compliance with applicable laws and regulations. In addition to the annual examination by NCUA, the Credit Union is subject to an annual supervisory audit, performed by an outside auditing agency, for the purpose of reviewing the performance of officials, employees and the general operations of the Credit Union.