Our Story

Combined Federal Credit Union Mission Statement

Combined Federal Credit Union is a member-owned financial institution, dedicated to providing sound financial services responsive to the member-owners.  The credit union is committed to the philosophy of people helping people.

History and Structure

Combined Federal Credit Union is a voluntary, nonprofit, cooperative association of individuals sharing a common employment bond as defined by our field of membership.  Each member is an owner of the Credit Union and is entitled to a single vote regarding the business of the Credit Union.  Each year Members gather at the Annual Meeting to elect our member’s Board of Directors from the Membership and to conduct other such business as may be brought to the meeting’s attention.  Board members are uncompensated volunteers.  The Board of Directors elect their own officers from the group that the Membership elects to serve as directors.  Our officers consist of Chairman, Vice Chairman, Secretary and Treasurer.  The Board is ultimately responsible for the success of the Credit Union and sets Credit Union policy.  The Board appoints the Supervisory Committee and hires the President.  The Board is directly responsible to the Membership.  The Supervisory Committee is the Credit Union’s and the Membership’s watchdog.  While it is appointed by the Board from the Credit Union’s Membership, it too is directly responsible to the Membership.  The Committee is responsible for regulatory and procedural compliance and Credit Union safety and soundness.  The Credit Union CEO  is hired by the Board of Directors.  The CEO reports directly to the Board.  The CEO is responsible for the execution of the Board’s directions in the daily operations of the Credit Union and in meeting Members’ expectations.  The CEO hires and manages the performance of all staff for the benefit of the Membership.