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It shall be the responsibility of the ALCO to formulate, implement and monitor the organization’s asset/liability management program, subject to the review and approval of the Board of Directors. The ALCO shall delegate day-to-day asset/liability authority to the CEO, who shall exercise that authority in consultation with other clients members of the ALCO and consistent with this and other written policies of the organization, including the Investment Policy, Loan Policy, and Business/ Strategic Plan. Day-to-day asset/liability authority shall include the authority to adjust all of the organization’s share and loan rates, except the regular share rate, which shall continue to be established by the Board of Directors. The CEO shall also have authority to adjust the fees that the organization may charge for any other product or service. The rates and fees established by the CEO are subject to the pricing strategies recommended by the ALCO and approved by the Board of Directors. Further, the ALCO or Board of Directors may change the rates or fees established by the CEO and may revoke the authority to adjust rates or fees at any time.
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