Board of Directors

Group of volunteers charged with providing the general direction and control of the credit union. Officers of the credit union (chairman, vice chairman, etc.) are selected from the board membership.

Brokered Deposits

Deposits that are brought into an institution through a broker. They are relatively costly, volatile funds that are more readily withdrawn from the institution if there is a loss of confidence or intense interest rate competition. Reliance on brokered deposits is usually a sign that the institution is having difficulty attracting deposits from its local geographic markets and could be a warning signal if other institutions in the same areas are not experiencing similar difficulties.


A codification of the form of organization that the credit union takes and the governance of its day-to-day operations; federal credit unions are required to adopt a basic code approved by the National Credit Union Administration.

Weiss Ratings