Throughout the upcoming year, Harborstone’s newsletter will periodically have messages from your Board of Directors called the “Bulletin Board.” These may contain information that is important to you and will help you get to know the board members and their role in representing you, our members. This first Bulletin Board serves more as an introduction to our board and answers the questions What is a credit union? and What makes us different from other financial institutions?
Credit unions are not-for-profit financial cooperatives. This means that earnings are paid back to members as dividends rather than paid to stockholders. Another difference is how our directors are elected. These individuals are democratically elected through a voting process in which every Harborstone member is able to participate, regardless of the number of accounts or loans a member has. Every member has an equal voice!
Harborstone’s board consists of eight volunteer directors, who help oversee and strategize the credit union’s goals and evaluate efficiencies. As members themselves, our directors strive to make decisions in the best interests of the membership as a whole.