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PERFORMING ARTS CENTER 160
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Page 161 text:
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CREDIT UNION The UMO Student Credit Union first opened on September 4, 1978. It is one of only three credit unions in the U.S. that arc completely run by students. The two others arc located at the University of Florida and the University of Mass. The credit union began with a group of seven students who organized a committee to develop the possibilities of a student banking service on campus. With much dedication, research, and hard work, the credit union opened it's doors for business. It has come a long way since then, now operat- ing as a full service credit union offering savings and checking accounts, low interest loans, travelers checks, money orders, financial counseling, check cashing, and direct payroll deposit. A board of directors, responsible for policy making and hiring management for day to day operations is chosen each spring at the annual shareholder's meeting, with each shareholder casting one vote. Ihe new board then votes for the offices of president, vice-president. secretary, treasurer and general manager. Also on the board are a personnel director and a director in charge of marketing. The general manager and treasurer, liable to the board, are responsible for the daily operations of the credit union. They arc aided in this by student tellers. Together, ihp board of directors, officers and tellers operate the credit union as professionally and efficiently as any bank. In doing so. they offer an imponant and necessary function to the UMO community.
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