APPLICATION DEADLINE: November 10, 2019
The VSECU Board of Directors guides our organization in its mission to improve the lives of Vermonters and help empower Vermont communities to achieve greater financial, environmental, and social prosperity. If you feel you could be instrumental in bringing people together through the cooperative spirit to help engage positive social impact in Vermont, we’re interested in hearing from you.
VSECU is a financial cooperative owned by its member-owners who annually elect fellow members as directors of the board. The VSECU Board of Directors is made up of eleven members, each serving our membership for a regular three-year term in a volunteer capacity. The fiduciary duties of the board are to provide general direction and control of the credit union affairs and direct the CEO to ensure the sustainability of our cooperative while meeting the needs of its members.
Board governance responsibilities are significant, and the commitment must be unwavering. In a world of complex regulations, security and compliance, evolving technologies, risk management, increased competition, and societal demands for more than a commodity solution, the role of a director can be challenging with inherent risk and liability. For the right individual, it can be rewarding and fulfilling to help VSECU look for ways to improve the lives of our members and create stronger Vermont communities.
CALL FOR VOLUNTEERS:
Four (4) Open Board of Directors Positions
Four, three-year positions. Do you have the passion and ambition to use the knowledge you’ve gained through your business, cooperative, innovative, and/or entrepreneurial experiences to support VSECU in promoting individual, member, and community sustainability and success? Take a look at the qualifications, read the full job description, and submit your resume.
To be appointed by the Board of Directors
- Serve as guardian of the credit union’s purpose, mission, strategy, and commitment to its members
- Serve as trustee of members’ investments and the credit union’s financial strength
- Select, manage, and evaluate the chief executive officer (CEO)
• Serve as a positive ambassador of VSECU
• Keep informed about credit union issues
• Review general operations and internal controls
• Review Board of Directors policies annually
• Review and examine board packets prior to meetings
• Attend monthly board and assigned committee meetings
• Support the CEO and other executive officers
• Ensure procedures for board and CEO succession
• Express and accept opinions respectfully
• Avoid “pet causes” and “personal crusades”
• Adhere to a Code of Conduct & Ethics Policy
• Keep member and board information confidential
• Approve and monitor capital and operating budgets
• Approve VSECU operating and board policies
• Provide for adequate insurance and bonding
• Act on insider loans according to policy
• Propose bylaw amendments for membership review and approval
• Ensure that VSECU records are safe and maintained
• Establish and maintain employee personnel policy and benefit plans
• Authorize compensation of CEO
• Set dividend rates on member share and share draft accounts
• Oversee proper transfer of reserve funds
• Determine if capital levels are adequate
The VSECU Board of Directors should reflect the diversity of our membership, with individual director’s possessing varying expertise in the following areas:
• Enterprise risk management
• Customer service
• Technology and information services
• Business operations
• Financial services industry
• Credit or interest rate management
• Operational risk assessment and management
• Community development and impact
BOARD OF DIRECTORS QUALIFICATIONS
A director must be a member in good standing at least 18 years of age, must qualify for bond coverage and must not have ever been convicted of embezzlement, forgery, larceny, theft, robbery, falsifying information, fraud or any kind of criminal misperformance of duty.
A director is expected to bring a high level of competency, engagement and experience to the job. The ability to think conceptually and strategically with critical thinking and sound judgement is imperative.
A director should have the ability to read and understand complex financial statements such as balance and income sheet statements and know when to ask, as appropriate, substantive questions of management and the internal and external auditors.
A director should exhibit knowledge of the cooperative principles, concepts and values as well as an understanding of the principles and values of VSECU.
A director should be engaged and, communicative, and be able to articulate his or her views frankly, work productively with others and demonstrate the willingness to commit to the time and effort needed to be an engaged board member.
A director should be able to demonstrate knowledge and understanding of business, financial, and social issues at both the local and national level and have a forward thinking mindset.
HOW TO APPLY
If you are interested in becoming a candidate to serve on our Board of Directors, there are two ways in which you can become a candidate in the election:
By Nomination – Applications due by November 10, 2019
A Nominating Committee, appointed by an official of the VSECU Board of Directors will review member submissions received by November 10, and select qualified nominees on or before December 1. Individual interviews and/or an orientation may be scheduled as part of the selection process. Selected candidates will be included on the election ballot.
Submit your letter of interest and professional resume to: firstname.lastname@example.org.
By Petition – Petitions due by December 10, 2019
A member may submit by petition to the Supervisory Committee proclaiming his or her candidacy to serve as an elected official of the credit union. Petitions must be received no later than December 10 of the year prior to the Annual Meeting and must clearly state the member’s name, position which he or she seeks, and the signatures and printed names of at least fifty (50) members of VSECU who are at least sixteen (16) years of age and who, by their signature, proclaim support of the member’s nomination. The Supervisory Committee shall review and validate each petition on or before December 15 and names will be included on the election ballot.
Petitions can be mailed to: Laurie Swanson, VSECU, P.O. Box 67, Montpelier, VT 05601.