.. CO-OPERATIVE CREDIT UNION LIMITED.

SUPERVISORY COMMITTEE WORKING PAPERS Assessment of Board Minutes

Date of Meeting:.. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Number of directors present: ........ Quorum: Yes [ ] No [ ] Yes No Cant Tell [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ [ [ [ [ [ [ [ ] ] ] ] ] ] ] ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ [ [ [ [ [ [ [ ] ] ] ] ] ] ] ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ [ [ [ [ [ [ [ ] ] ] ] ] ] ] ]

Were financial statements presented at the meeting? Did the financial statements include a budget/actual comparison? Did the financial statements include a PEARLS analysis? Were the financial statements used to make decision at the meeting? Did the minutes reflect adequate discussions on the financial statements and analysis? Did the meeting approve the overspending of any budget item? Was a Managers report presented at the meeting? Did the Managers report reflect a summary of the operations of the office for the month? Was the Supervisory Committees report presented at the meeting? Was the Credit Committees report presented at the meeting? Did the Credit Committees report include all loans granted by Loans Officers and members of staff authorized to do so? Were reports from other committees of the credit union presented at this meeting? Was a delinquency report presented at this meeting? Did the board make recommendations regarding action on delinquent loans? Was approval granted for the writing off of loans that have been delinquent more than one year? Were applications for membership approved by the board at this meeting? Did the Board discuss strategies to overcome the weaknesses revealed by the PEARLS analysis? Did the board review any policy of the credit union or make recommendations for same? Did the meeting discuss any aspects of the Strategic Plan? Was the performance of the credit unions investments reviewed? Was the investment portfolio reviewed in any way? Were any decisions taken regarding investments? Were correspondences were read and decisions taken regarding them? Was the minutes signed by the President of the board? Was the minutes signed by the Secretary of the board? OTHER COMMENTS

Prepared by: Date:

Reviewed by: Date: ..

. CO-OPERATIVE CREDIT UNION LIMITED. SUPERVISORY COMMITTEE WORKING PAPERS Assessment of Delinquency Report
Report for the month of : .20. No of delinquent members on the report: Total value of delinquency: . Delinquency Ratio: ...% (Total delinquency/Total Net Loans) # Questions The delinquency report was generated directly from the computer system? If the system is a manual one did the Supervisory Committee verify the delinquency report? Does the delinquency report agree with the figures submitted to GARFIN on a monthly basis? Does the members file show the follow-up work done on the loan since it became delinquent? Are loans delinquent for a period greater than one year written off? Has the credit union made the required provision for doubtful loans based on the delinquency report? Does the credit union make the necessary efforts to collect the delinquent loans even after they have been written off? Was a listing showing the provisions made for loan losses made available for examination by the Supervisory Committee? Does the credit union have a delinquency policy? Does the delinquency policy outline all the steps to be taken when a loan becomes delinquent? Is any member of staff delinquent? Is any member of any management committee delinquent? Is the delinquent presented to the board on a monthly or quarterly basis, discussed and actions recommended? (Check board minutes for proof) Does the board make recommendations for the writing off of all loans? Does the board minutes prove that it was the board who recommended the writing off of loans and not management? Follow up: Take a sample of members on the delinquency report and examine their files Is the follow-up on the delinquent member properly documented? Was the loan refinanced and ne agreements signed for the repayment of same? OTHER COMMENTS

Yes [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]

No [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ]

Yes [ ] [ ]

No [ ] [ ]

Prepared by:

Reviewed by:

Date:

Date: ..

.. CO-OPERATIVE CREDIT UNION LIMITED. SUPERVISORY COMMITTEE WORKING PAPERS Assessment of Human Resource/Personnel Policy & HR Matters
1. Does the credit union have a Personnel or Human Resource Policy? Does the policy deal with the procedures for filling vacancies when they become available? Does the credit union have an organizational chart? Are all important positions on the organizational chart filled? Does the credit union have established minimum qualifications for all job positions? Is the personnel policy reviewed by the board annually to make relevant? Does the personnel policy deal with a scientific method (interview score sheet) of deciding how the most suitable candidate could be decided on at an interview? Does the organizational chart clearly show the reporting line of the credit union? Do all employees have job descriptions? Do all job positions have salary scales? Are salary scale competitive with other financial status of similar size ? Is it mandatory that all employees take their annual vacation? Is it possible for employees to receive payment instead of taking their annual vacation? Does the policy state the annual vacation that all employees are entitled to? Yes [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ [ [ [ [ ] ] ] ] ] No [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ [ [ [ [ ] ] ] ] ] Cant Tell [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ [ [ [ [ ] ] ] ] ]

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Develop Working papers for: Internal Controls Risk management Compliance PEARLS Analysis