Audit Committee

Audit Committee

On behalf of the Members of Royal Credit Union and its Board of Directors, the Audit Committee is responsible for oversight of auditing and testing (1) the integrity of financial statements, (2) the system of internal control, (3) the internal and external audit processes, (4) the compliance with applicable laws and regulations, and (5) the code of conduct and ethics. You can meet our committee members below.

Audit Committee

Royal Credit Union | Jennifer McDonough

Jennifer McDonough

View Bio
Royal Credit Union | Jennifer McDonough

Jennifer McDonough

Jennifer McDonough has been a Member of Royal Credit Union since 1988 and has served on the Board of Directors since 1997. She is currently Secretary of the Board, a member of the Compensation and Governance Committee, and Chair of the Audit Committee. Jennifer has also served as Vice Chair of the board and on the Building and Technology Committees.

"Royal Credit Union is growing for and with our Members; we will continue supporting and helping to build the communities we serve, now and into the future."

Jennifer has participated in a variety of community functions and credit union educational opportunities. She has completed the Credit Union National Association's Volunteer Achievement Program, the Directors’ Financial Literacy requirements, and is a Certified Credit Union Volunteer (CCUV). Jennifer is also involved in our community hospital health systems volunteering as a foundation board member since 2014. She currently serves as chairperson of that board.

McDonough earned Bachelor and Master in Education Degrees and a certification in Economics at UW-Eau Claire. She earned her Educational Administration Degree at UW-Superior. Jennifer retired as an administrator for Eau Claire Area Schools in 2016. She and her husband, Matthew, live in Chippewa Falls.

Ray Hughes

View Bio

Ray Hughes

Ray has been a Royal CU Member for 17 years.  His background consists of roughly 35 years in finance, law, and education.  He believes strongly in giving back to our communities and making them a better place to live.  Ray served six years on the Eau Claire City Council and has served on numerous community boards, including the Eau Claire Community Parks Association, the Eau Claire Library, the Menomonie Area Community Foundation, the REACH Foundation, and the Regional Loan Fund.

Ray believes his background and continuing efforts to learn allows him to make meaningful contributions to the Royal Audit Committee; resulting in keeping Royal safe and financially sound for our Members.

Ray is married to Dianne and they have 3 daughters and 2 grandsons.

Jim Mattson

View Bio

Jim Mattson

Jim has been a Member of Royal Credit Union for 43 years. He began serving on Royal’s Audit Committee in 2013.

Jim is a graduate of Lakeland College and Chippewa Valley Technical College with a Bachelor’s Degree and Associates Degree in Accounting, and, for the past two decades, he's worked as an accountant with Bauman Associates, Ltd.

He is passionate about giving back to his community, and serves on several boards including the Kiwanis Club of Eau Claire Inc. and the Chippewa Valley Theatre Guild. Jim strongly believes in the “Member owned” credit union concept.

Tracy Flanagan - Royal Credit Union Audit Committee

Tracy Flanagan

View Bio
Tracy Flanagan - Royal Credit Union Audit Committee

Tracy Flanagan

Tracy Flanagan has been a Member of Royal Credit Union since 1980 – some 36+ years! - and joined the Audit Committee in March 2016. 

As a Certified Public Accountant and Six Sigma Green Belt, Tracy has acquired significant experience in financial statement analysis and preparation, management of healthcare revenue cycle operations, design and improvement of reporting tools to achieve quality, productivity and reimbursement goals, and implementation of business processes to achieve best practices.

Tracy holds a Bachelor of Science in business administration and accounting from the University of Wisconsin-Eau Claire, and lives in Chippewa Falls with her husband and three children.

Royal Credit Union | John Sackett

John Sackett

View Bio
Royal Credit Union | John Sackett

John Sackett

John has enjoyed the benefits of being a credit union Member for more than 40 years. His involvement with Royal Credit Union includes serving on the Political Action Committee, Audit Committee, and Board Advisory Committee. Previously, John served as Chairman of the board for 17 years and Treasurer for 10 years.

John is also very involved in the credit union movement on a state and national level because he believes strongly in the credit union philosophy. He currently services as a director on the National Credit Union Foundation, as well as President of the RCU Foundation. He also serves on the Credit Union National Association’s (CUNA) Board of Directors and served as the first Chair of the CUNA Volunteer Leadership Committee. John has also served on CUNA’s Community Credit Union Committee as Vice Chairman, CUNA's Mergers Task Force, and the CUNA Task Force on Due Diligence.

John enjoys attending and making presentations at Credit Union Executive Society (CUES) and CUNA conferences plus many state and local seminars relating to credit union activities. Not only is John a Certified Credit Union Volunteer, he also has received the following certificates for completion of the National Volunteer Achievement Program: Edward Filene (1986), Friedrich Raiffeisen (1990), Roy F. Bergengren (1992), Technology (1999), Alphonse Desjardins (2003), Louise Herring (2003), Dora Maxwell (2003), and Thomas Doig (2011). John also completed the Credit Union Leadership Program and Financial Literacy Program.

After serving as Director of Finance for the Eau Claire Area School District for 27 years, John is enjoying his retirement. This has also allowed him to become even more involved in the credit union industry, which he has a true passion for. During his career, he was honored with the 2001 Wisconsin Association of School Business Officials' Wallace Zastrow Award. John is a graduate of the UW-Eau Claire with a Bachelors Degree in Comprehensive Public Accounting.

John's vision is to expand Royal to new markets and new Members while being the primary financial institution of choice in the communities where Royal has a presence.

John and his wife, Kris, have four children and live in Eau Claire.