ORNL FCU 75 Years

The American Museum of Science and Energy in Oak Ridge opened in 1949 inside an old wartime cafeteria at the Oak Ridge site. AMSE is the nation’s oldest museum of science and energy and features the history of the Manhattan Project among other exhibits. The museum has since moved to its Main Street location. (US Department of Energy)

VOLUNTEERS VERSUS PAID OFFICIALS

Unlike a bank where board officials are elected and paid by stockholders, a credit union board is composed of members who are elected by the organization’s membership. These directors are often referred to as volunteers, and for good reason. The Federal Credit Union Act along with the National Credit Union Administration prohibits federal credit unions (FCUs) from compensating their board, which means directors are not paid for the work they do. Pay is never the primary motivator for credit union directors. Credit unions like ORNL FCU rely on the expertise and leadership skills of their board of directors and committee members. Each of them embraces the credit union philosophy, and they are fully committed to the financial well-being of the membership.

16 | 75 YEARS ORNL FEDERAL CREDIT UNION