The Supervisory Committee’s major responsibilities are to safeguard our members’ assets, ensure an independent audit is performed annually, and verify members’ accounts. In 2018, the Committee performed its duties in collaboration with the credit union’s Internal Audit and Compliance Department, Certified Public Accountants, the National Credit Union Administration (NCUA), and the California Department of Business Oversight (DBO). In 2018 Frontwave Credit Union changed its fiscal year- end from June to December and as a result, it completed two financial statement audits, one for the twelve months ending June 30, 2018, and a second one for the six months ending December 31, 2018. The Supervisory Committee engaged the auditing firm of Turner, Warren, Hwang & Conrad to perform these independent audits of Frontwave Credit Union’s financial statements. We are pleased to inform you that the audits for 2018 were completed successfully. Frontwave Credit Union’s financial statements comply with generally accepted accounting principles and fairly represent the financial condition of the credit union. Based on the results of these financial audits, Frontwave Credit Union’s internal audits, and examinations conducted by the Supervisory Committee Report
NCUA and DBO, the Committee finds that Frontwave Credit Union is a financially sound organization and substantially in compliance with credit union regulations. In addition, the Committee commends the management team and Board of Directors for their diligence and support, and their dedication to the welfare of our membership. The Supervisory Committee continues to fulfill its duties to protect our members’ interests in compliance with policies, procedures, and all relevant laws and regulations. For insight into the 2018 financial performance of Frontwave Credit Union, please refer to the Statement of Financial Condition, published in this Annual Report. Finally, the Supervisory Committee wishes to express its condolence at the passing of Mr. Charles William Chain, who served the Committee for many years as a Committee Member and Chairman. The Supervisory Committee would also like to extend its sincere thanks and appreciation to Mr. Pat Bromley for his many years of service to the Committee as a Member and Interim Chairman. William Shute Chairman, Supervisory Committee
2018 LEADERS
Richard Rothwell Chairman
Michael Brigagliano Vice Chairman
Gary Greving Treasurer
James Cothran Secretary
George Hoagland Director
Gerald Polyascko Director
Marlon Ramos Director
Brian Sutton Director
Joseph Mitlieri Director
Bill Birnie President/CEO
WEBSITE frontwavecu.com MEMBER SOLUTIONS CENTER 800.736.4500 EXPRESS LINE 800.829.7676
LOCATIONS
Barstow Camp Pendleton/Mainside Camp Pendleton/Pacific Plaza Camp Pendleton/SOI Escondido Oceanside/Fire Mountain Oceanside/Rancho Del Oro
San Diego/MCRD San Marcos Temecula/Temecula Parkway Temecula/Winchester Twentynine Palms Wildomar Yucca Valley
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