The overall responsibility for the Credit Union rests with its member-elected Board of Directors. Members of the Board of Directors are volunteers and serve without remuneration.
Every year, the Credit Union holds an Annual Meeting open to all members to report on the financial status of BFSFCU and to announce the results of the election of vacant seats of the Board of Directors.
The Board of Directors appoints members to serve as volunteers on the following committees:
The Supervisory Committee is charged with the responsibility of periodically reviewing the Credit Union's policies and internal controls. The committee engages annually an external auditor to perform a thorough review of BFSFCU's financial condition and to make recommendations for process improvements. The results of the auditor's report is published in BFSFCU's Annual Report.
The Credit Committee oversees matters related to the extension of credit to BFSFCU's membership in the form of real estate and consumer loans. The committee is charged with ensuring that loans are granted to members according to the underwriting guidelines set forth by the Credit Union and in compliance with all regulations set forth by the National Credit Union Administration.
The Board of Directors appoints a full-time, salaried Chief Executive Officer (CEO) to implement Board policy and manage the Credit Union's activities. Eli Vazquez is the Managing Director and Chief Executive Officer of BFSFCU.