SAFE's Supervisory Committee
KENNETH PRIVETTE (CHAIR)
WILLIAM T. ANDERSON
Ryan dutcher, vice president of internal audit
The Supervisory Committee is responsible for the continuous independent monitoring and appraisal of all credit union financial activities on behalf of its members. Our goal is to ensure that all of SAFE’s operations are performed with the highest degree of accuracy and integrity.
In support of this, the committee engaged an independent auditing firm, Doeren Mayhew, CPAs, to provide an opinion on the soundness and accuracy of the credit union’s financial statements, to verify balances on member account statements, and to review compliance with federal regulations and Generally Accepted Accounting Principles (GAAP) pertaining to accounting practices. No material adjustments to the financial statements were required.
In May, National Credit Union Administration (NCUA) examiners performed an extensive examination and made recommendations to further improve the Asset Liability Management, and Information Security programs. These recommendations were acted on after the examination by the Board of Directors and Executive Management. Projects are in the works to comply with the recommendations. In November, NCUA also performed a Fair Lending Examination. The results were positive as SAFE’s lending policies and practices comply with fair lending requirements.
Also, the Internal Audit Department’s staff, which reports directly to the Supervisory Committee, is responsible for reviewing the activities of the branches and all operations. In 2019, the Internal Audit Department completed 48 audits covering an array of branch and operational functions. They assist management in the effective discharge of their responsibilities by furnishing them with analyses, appraisals, and recommendations concerning the activities reviewed.
It is the opinion of the Supervisory Committee that SAFE is financially sound and operating efficiently and effectively. The financial statements accurately represent its financial condition, and all business activities are handled in accordance with the Board of Directors' policies and government regulations.
Click here to access SAFE’s Supervisory Committee Charter.
Contacting the Supervisory Committee
Please contact the Supervisory Committee:
- If you suspect any SAFE Federal Credit Union employee or official of fraudulent or unethical conduct. Reports may be made anonymously. All reviews and investigations will be conducted with a degree of confidentiality that may be applicable, given the circumstances of each investigation. Please include as much applicable information as possible. Reports should include:
- Name(s) of suspect(s)
- Nature of the suspected conduct
- Where/how the action occurred
- How and when the conduct was discovered
- If you have any unresolved concerns about SAFE Federal Credit Union or your accounts. Reports should be limited to matters the credit union has been unable to resolve through normal channels to your satisfaction. Reports should include:
- Your name
- Applicable account numbers and suffixes
- Detailed description of the activity of concern including dates, amounts, and types of transactions
- Clear explanation of why you have concerns about the activity
- Efforts you have made, including contact with Credit Union employees, to resolve your concerns prior to the request
You may contact the Supervisory Committee through email correspondence to email@example.com or address your correspondence to:
SAFE Federal Credit Union
P.O. Box 754
Sumter, South Carolina 29151-0754
Note: Address is for Supervisory Committee correspondence ONLY. Do NOT send loan payments, insurance policies, regular mail, etc. to this address.