H & H Federal Credit Union was established on November 21, 1963. There were 10 founding members: Robert Pierce, Billy K. Potts, Stanley Freriks, Erica Johnson, Stanley Mohr, Erit Fry, James Ledbetter, E. Martin Rhodes, & Mary Dalton.
They each deposited $5.00 into a regular share account. We have grown from 10 members in 1963 to 4561 members in June, 2003 and from $50.00 in assets to $52,000,000.00. All accounts are federally insured up to $250,000.00 by NCUA (National Credit Union Administration).
As H & H credit Union is a not for profit organization who is owned by its members. The policies and operations are governed by a Board of Directors, whose members are elected by the members of the Credit Union.
Board of Directors
The Board of Directors: These officers are elected by the Credit Union membership and serve voluntarily and without compensation. Their responsibility is to see that the Credit Union is operated in accordance with the rules and regulations and bylaws of the National Credit Union Administration. They establish policy and make certain that the Credit Union operates in the best interest of its members, who are its owners.
Current Board of Directors include:
The Supervisory Committee: These committee members are appointed by the Board of Directors and serve voluntarily and without compensation. The responsibility of this committee is to see that the records of the Credit Union are audited to assure the members that the Credit Union is being operated in compliance with the laws and regulations that govern Credit Unions and with the policies of the Board of Directors. This committee contracts with an outside auditing firm to send a team (un-announced) at least once a year to audit the Credit Union records.
Current Supervisory Committee members include:
Government Examiners: These are examiners from the National Credit Union Administration that conduct (un-announced) periodic examinations, at least yearly, of all facets of the Credit Union operations and give a report of their findings to the Board of Directors and the Supervisory Committee.