Maghera Credit Union
The Board of
The Board of Directors are the effective managers of the Credit Union.
They oversee the security of members' shares and arrange for the strategic banking of surplus
funds. All members are elected for a period of three years in a rotational order. This means
that Board members must stand down after three years in office to allow potential new Board
members the opportunity to be elected. However, it is not unusual for good, hard-working
members to be re-elected for a second or even more terms in
The elected Board of the
Credit Union meet at very regular intervals during the financial year. They
also arrange for external examination of their books by accredited accountants
to make sure that members' funds remain secure and
The Annual General
General Meeting is the most important meeting that the Credit Union can hold. All of
the shareholders/members are invited and should make a good effort to attend to see how
their mutually-owned business is progressing.
They will not be press-ganged into joining the
Board if they do not want to - but they will come away with a much greater insight to the
bigger financial world and the work that needs to be done to make safe judgements on
their families' future security.