Enterprise Risk Management (ERM) Committee Charter for Credit Unions

The Credit Union has established a standing ERM Committee of the Board that works cooperatively with the other core elements of the Credit Union’s governance structure to create an effective ERM program by helping to define, monitor and, as needed, update the Credit Union’s risk appetite, risk tolerance policies, as well as appropriate procedures pertaining to monitoring both negative and positive risks. The Committee shall accomplish its work within the scope of the Credit Union’s business model and strategy, consistent with the risk appetite defined by the Board and in alignment with safety and soundness standards for the industry. The Committee shall be responsible for assisting the Board in fulfilling its oversight responsibilities with respect to ensuring the reliability and integrity of the Credit Union’s ERM policies, practices and systems.