The VSECU Board of Directors is responsible for the governance and oversight of the strategic direction, operations, impact, performance, and general management of the credit union through the accountability of the credit union’s chief executive officer as their direct report.
Board governance responsibilities are significant, and the commitment must be unwavering. In a world of complex regulations, security, compliance, evolving technologies, risk management, increased competition, and societal demands for more than a financial commodity solution, the role of a director can be challenging and comes 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.
The Board of Directors meet monthly at regularly scheduled meetings and participate in other assigned committees as director members to serve in the following manner:
- Serving as guardian of the credit union’s purpose, mission, strategy, and commitment to its members
- Serving as trustee of members’ investments and the credit union’s financial strength
- Selecting, managing, and evaluating the chief executive officer (CEO)
Board of Directors qualifications
Necessary knowledge and skills for the position include:
- Be a current credit union member at least 18 years of age
- Understand the credit union purpose, mission, and vision
- Have the ability to understand complex financial statements, audits, and other reports
- Demonstrate competency, engagement, and experience
- Use both critical and strategic thinking with sound judgment
- Present specialized professional knowledge and experience relevant to the overall needed composition of the board
A full job description outlining specific responsibilities for a VSECU Board of Director can be requested by contacting Laurie Swanson, Executive Administrative Assistant at [email protected]
A Nominating Committee, appointed by an official of the VSECU Board of Directors, will review member submissions, conduct interviews, and select qualified nominees for member election.
APPLICATIONS ARE DUE BY NOVEMBER 10 – Send your letter of interest and resume to Laurie Swanson, Executive Administration Assistant at [email protected], or by mail, ATTN: Nominating Committee, P.O. Box 67, Montpelier, VT 05601.
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. Include your name, the position which you seek, and the printed names and signatures of at least fifty (50) VSECU members who are at least sixteen (16) years of age, who by their signature, proclaim support of your nomination. Names from validated petitions will be added to the election ballot.
PETITIONS ARE DUE BY DECEMBER 10 – Send your petition to Laurie Swanson, Executive Administration Assistant at [email protected], or by mail, ATTN: Supervisory Committee Position, P.O. Box 67, Montpelier, VT 05601.
The Supervisory Committee is responsible for ensuring that the financial condition of the credit union is accurately and fairly presented in the credit union’s financial statements, and that management practices and procedures are sufficient to safeguard members’ assets.
The committee may interact with the board, management, and external experts in its role to accomplish the following:
- Engage or terminate outside or internal auditors
- Verify that internal controls are established
- Ensure credit union accounting records are accurate
- Direct internal and/or external audit activities
- Determine that relevant plans, policies, and procedures are properly administered
- Verify that policies and control procedures are sufficient
- Approve the annual opinion audit
Qualifications for the position include:
- Experience in auditing
- Experience working in a regulatory environment
- Good standing as a VSECU member
- Commitment to quarterly meetings and special meetings as needed
The position is a three-year term and is appointed by the Board of Directors.