Page 9 - 2025 Annual Report

Supervisory Committee’s Report

Overseeing the review of management practices and
procedures is vital to safeguarding member assets. The
Committee submits monthly reports to the Board of Directors
regarding the safety and soundness of the Credit Union.
Additionally, we are always available to address member
concerns. If a concern cannot be resolved with management,
please contact the Committee at SupervisoryCommittee@
esfcu.org or by mail at Supervisory Committee, PO Box 179,
Greenbelt, MD 20768.
Géraldine Duval
Chair
The Committee recognizes the Board of Directors, management,
The primary mission of the Supervisory Committee is to and Ambassadors for their unwavering dedication throughout
conduct internal and external audits designed to determine 2025. We remain committed to ensuring that your Credit Union
that: (1) accounting records and reports are prepared is a safe, sound, and strong place to pursue financial wellness.
promptly and accurately reflect operations and their results;
(2) established internal controls are effectively maintained Together, let’s make GREAT happen!
and adequately protect the Credit Union, its members, its
management and its Ambassadors; and (3) each unit of the
Credit Union is carrying out its respective plans, policies, and
procedures in accordance with the Federal Credit Union Act. Géraldine Duval
Chair
The Supervisory Committee, comprised of five dedicated
volunteers, ensures that our financial statements accurately and Philip J. McGaughey, Jr.
fairly represent the financial condition of the Credit Union. To Secretary
achieve this, a complete annual opinion audit is conducted by
an external Certified Public Accounting (CPA) firm. Kelvin J. Campbell
Member
Our CPA firm, DeLeon & Stang, CPAs and Advisors, recently
completed our annual audit in accordance with generally accepted Lynette Smith
auditing standards to verify conformity with generally accepted Member
accounting principles. DeLeon & Stang presented the audit
findings to the Supervisory Committee and the Board of Directors, Karen E. Wassman
including a detailed review of our financial statements and member Member
account verification processes. Member account verification,
conducted annually, ensures the integrity of our account database.
The audit confirmed that Educational Systems Federal Credit Union
is in a strong financial position. Evidence of this can be found in the
2025 financial statements provided within this Annual Report.

The National Credit Union Administration (NCUA) also conducts
periodic examinations of our Credit Union. Following each
exam, a detailed report is issued, which we thoroughly review
and address as necessary. The Committee meets monthly to
evaluate operational processes, internal controls, and overall
safety and soundness. Supported by a full-time Vice President
of Internal Audit and Senior Staff Auditor, the Committee
implements a comprehensive audit plan each year to ensure
extensive coverage of the Credit Union’s branches and
departments.

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