Supervisory Committee Report

The Supervisory Committee is elected by the membership to independently evaluate the soundness of the credit union’s operations and activities, and ensure that management implements sound internal controls, and maintains practices and procedures that adhere to generally accepted accounting principles (GAAP).  The committee works with management to make changes where necessary to further strengthen credit union policies and procedures and most importantly to ensure membership satisfaction.

With the responsibility to safeguard Water and Power Community Credit Union’s assets and protect the interest of the members, we work to validate that internal controls are sound, records are accurate, independent reviews are performed and operations are in compliance with all federal and state regulations, as well as with our own bylaws, policies and procedures.

WPCCU is financially sound

The Supervisory Committee retains a certified independent accounting firm, Turner, Warren, Hwang & Conrad Accountancy Corp., to perform an annual financial audit and issue certified financial statements relating to the overall financial condition of WPCCU.  Based on the results of the annual audit, the Supervisory Committee concludes that Water and Power Community Credit Union has satisfactory financial controls, is financially sound, and at this time, no corrective actions are required.