90th Annual Meeting March 25, 2025
In person
Florida A&M University (FAMU) Federal Credit Union (FCU)
1610 South Monroe Street
Tallahassee, Florida
Zoom
Famu Credit Union is inviting you to a scheduled Zoom meeting.
Join Zoom Meeting
https://zoom.us/j/98948371020?pwd=1dqoIzQd1a6YOYKdHfNJDLj7m3m3Yl.1
Meeting ID: 989 4837 1020
Passcode: 328077
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Meeting ID: 989 4837 1020
Passcode: 328077
ANNUAL MEETING
As mandated by the NCUA (National Credit Union Administration) Bylaws, the 2025 Annual meeting will be held on Tuesday, March 25, 2025, at 6:30 p.m. at the Florida A&M University (FAMU) Federal Credit Union (FCU) in the Community Room, 1610 South Monroe Street, Tallahassee, Florida. The Annual Meeting is primarily designed to provide members with a forum to learn more about the operational and financial status of the Credit Union; to discuss pertinent issues and to gather information about THEIR Credit Union, the Board of Directors and the management staff. Refreshments will be served. A special feature of the Annual Meeting will be the announcement of the results of the Board of Directors' election.
BOARD OF DIRECTORS
The members of the Board of Directors are volunteers. Specifically, the Board of Directors is responsible for directing and controlling the affairs of the Credit Union. Though the Board members will not personally perform the task themselves, the board is ultimately responsible for making sure the Credit Union:
• Is properly managed by a qualified President and/or Chief Executive Officer (CEO) and competent staff.
• Operates using sound business practices as mandated by the National Credit Union Association (NCUA).
• Complies with all applicable federal laws and regulations.
• Achieves the goals stated in the charter, the 5-year strategic plan, and the business plan.
• Fulfills its purpose of making low-cost loans and encouraging thrift.
• Provides adequate financial reserves to cover possible losses.
• Protects against unauthorized or illegal acts through safe operating procedures and purchase of fidelity bond coverage.
To carry out its role in meeting the above requirements, YOUR Board develops policies, approves programs, hires and evaluates the President and/or CEO and appoints various committees. The FAMU FCU has seven (7) members on the Board of Directors, who serve staggered three (3) year terms.
The term of two (2) members will expire in 2025. In accordance with NCUA Bylaws, the Chairman of the Board appointed a Nominating Committee to recommend qualified members to fill this vacancy. Hence, the Committee recommended the following individuals:
GWENDOLYN J. SPENCER
Education: B.S Social Welfare; M.S. Social work; Jurist Doctorate.
Current Job Status: Attorney At-Law
Qualifications: Manages a law practice office, including but not limited to the following areas of practice: Real-Estate Law, Elder Law, Guardianship, Probate Wills and Trusts. Also represents individuals, businesses and institutions in legal matters. Currently serve on the Board.
ALTON W. ROYAL-Vice Chair
Education: B.S/M.Ed. degrees
Current Job Status: Retired
Qualifications: Served as Counselor to college Students; assistant VP Student Affairs; Director Student Financial Aid; Director/Coordinator of scholarships and private grants. As Director of Financial Aid, planned/organized/directed and administrated a comprehensive program involving an estimated 16,000+ applicants annually. Also managed scholarships and private grant programs for the FAMU Foundation. Currently serve on the Board.
PETITIONS
Members of the Florida A&M University Federal Credit Union would have applied for election to the Board of Directors by taking the petition route. Interested members would make nominations signed by one percent of the membership and complete a Statement of Qualifications and biographical data along with the required signatures on the petition form. Petitions were due no later than Thursday February 14, 2025.
PLEASE NOTE: THE BOARD OF DIRECTORS' ELECTION WILL NOT BE CONDUCTED BY BALLOT AND THERE WILL NOT BE NOMINATIONS FROM THE FLOOR AT THE ANNUAL MEETING IF THE NUMBER OF NOMINEES EQUALS THE NUMBER OF VACANCIES TO BE FILLED.