Credit Union Board Nominations
Serving as a volunteer on your credit union board of directors is a great way to participate in the democracy that makes us different and unique from other financial institutions. A credit union director has a great deal of responsibility requiring serious candidates with the qualifications to serve effectively.
If you are a member in good standing with Associated School Employees Credit Union, and meet the minimum qualifications listed below, you may submit an Application for Nomination, starting August 20 and no later than the end of business on September 21, 2018. Applications will only be accepted when mailed by the deadline to the post office box. Applications will not be accepted at credit union offices. As part of the application process, individuals must sign a release allowing credit union management to perform a credit and background check. The application, credit report and background information is submitted to a Nominating Committee to be considered for placement on the annual election ballot.
If you are nominated to be placed on the ballot, you will be notified by the credit union. Elections are online by computer balloting from November 12, 2018 through midnight on December 14, 2018. Election results will be announced at the credit union annual meeting to be held on January 22, 2019.
The Nominating Committee will not recommend any individual who is not a member in good standing with ASECU or has an unacceptable credit history. This means any individual, who has caused a loss to ASECU, through a loan or share charge-off loss will not be considered. Evidence of arrest or conviction of any criminal offense involving dishonesty or breach of fiduciary duty will also disqualify an individual. The Nominating Committee will consider the following qualifications:
- Must be at least 18 years of age
- Must be a member of the credit union in good standing for no less than three (3) consecutive years
- Must be bondable
- Candidate must not have a real or potential conflict of interest
- A Bachelor’s degree from an accredited college or university
- Demonstrated experience administering and/or managing a unit or organization, human resources etc.
- Demonstrated experience working on a regular basis with volunteer groups, or in a public service
- Willingness to serve with no pay
- Enthusiasm and interest in the continued successful operation of ASECU and the credit union movement
- Ability to attend the monthly board meetings, committee meetings, strategic planning meetings, and training meetings
Director Job Description:
To set policy, plan the Credit Union’s course, make sure the Credit Union maintains its sound financial condition, keep communication open to educate Members on services, review the President/Chief Executive Officer’s progress in achieving goals and objectives, and report to the Members and the Annual Meeting. Essential job functions as followed:
- Work with the President/Chief Executive Officer and fellow Board Members to develop objectives and goals for the Credit Union.
- Ensure the Credit Union adheres to pertinent laws, regulations, and sound business practices.
- Make sure the Credit Union maintains sound financial conditions and that the Credit Union’s assets are protected against unauthorized or illegal acts.
- Designate depositories, authorize borrowing and investing, provide for bonding and other security factors, including internal control procedures. Approve interest rates, dividends, and refunds. Approve loan limits and savings minimums.
- Ensure that policies established, and then approve them for all Credit Union programs and activities.
- Make sure new products and services are developed as needed.
- Approve the Credit Union budget.
- Hire the President/Chief Executive Officer, define the scope of the position, and review progress in attaining goals and objectives.
- Attend Board Meetings, exercise judgment independently from the President/Chief Executive Officer, and report to the Members at the Annual Meeting.