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Non-Profit |
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Our non-profit structure enables
us to return excess income to our membership. Members that save at
the credit union provide the money for those that wish to borrow.
The interest derived from those loans is used to pay dividends on
member’s savings accounts. Members can therefore save and borrow at
fair rates. |
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Members |
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Members
have the ultimate authority at Ulster Federal Credit Union with the
“One Member-One Vote” concept. We have no shareholders that profit
more than anyone else and all members have an equal voice with no
single member having more influence than another.
Members elect our Board of Directors, all of whom are members of the
credit union and serve without compensation. The Board of Directors
establishes policy and sets the strategic direction of the credit
union. Richard A. Mantey, President/CEO since 1994, directs the
professional staff and reports to the Board of Directors. |
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NCUA |
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The
National Credit Union Administration (NCUA) is an agency of the U.S.
Government and insures each member savings account up to $250,000.
Ulster Federal Credit Union is a federally chartered credit union
and falls under the regulatory authority of the NCUA. |
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