(1) The credit committee shall have the general supervision of all loans to members and may approve or disapprove those loans subject to written policies established by the board of directors.
(2) A credit manager having the same authority as a credit committee may be appointed in lieu of a credit committee as prescribed in the bylaws. The president may serve as the credit manager.
(3) The board of directors may appoint one or more loan officers and necessary assistants.
(4) The loan officers shall act under the direction of the president or the president's designee.
(5) The loan officer or credit manager may approve or disapprove loans, lines of credit, or advances from lines of credit and approve withdrawals of obligated members only as prescribed in writing by the board of directors.
(6) All loans approved by the loan officer shall be reviewed by the credit committee during one of its regular meetings.
(7) If the board of directors appoints a credit manager in lieu of a credit committee, all such loans approved by loan officers shall be reviewed by the credit manager.
(8) Other duties and responsibilities of the credit committee or credit manager may be prescribed in the bylaws.