MIT Federal Credit Union’s nominating committee is currently seeking credit union members who are interested in serving on the Board of Directors. Vacancies on the board will be open for the 2017 election in the spring.
Members collectively own the MIT Federal Credit Union (MITFCU). With that in mind, its member-elected, volunteer Board of Directors formulate and support decisions with members’ and the MIT Community’s interests at heart.
The Board of Directors takes on multiple responsibilities on behalf of members, including:
- setting policy and strategic direction for the credit union;
- ensuring the credit union maintains a sound financial condition;
- fostering open communication with members while educating members on services;
- reviewing the chief executive officer's progress in achieving goals and objectives; and
- reporting on the credit union's progress to members at its annual meeting.
Visit the MITFCU website to learn more about the MITFCU Board of Directors and its responsibilities.
MITFCU was founded as a non-profit financial institution in 1940 to provide basic financial services to employees at MIT. Today, in excess of $425,000 in assets, the credit union offers traditional savings and checking accounts as well as lending programs for mortgages, autos, personal, and student loans. With locations and ATMs in Cambridge and Lexington, Massachusetts, along with mobile, online, and telephone banking services, MIT Federal Credit Union serves the greater MIT-Cambridge community, which includes employees of Novartis (Cambridge), Lincoln Laboratory, Charles Stark Draper Laboratory, Whitehead Institute, and The Broad Institute. MIT Federal Credit Union also serves MIT students (graduate and undergraduate) and alumni. The MIT Federal Credit Union is a member-owned, cooperative financial institution whose primary mission is to provide quality financial services that meet the needs of its members while ensuring the financial well-being of the organization.