BOARD OF DIRECTORS DUTIES AND RESPONSIBILITIES

Primary Duties:

  • Develop and monitor short-range and long-range strategic planning objectives that help the Credit Union grow and thrive.

  • Develop/approve policies and monitors the implementation by staff.

Specific Duties/Responsibilities:

  • Monitor financial condition and ensure continued sound operation of the Credit Union.

  • Approve plans and budgets, and monitors implementation by staff.

  • Reviews and approves the credit union’s strategic vision and mission statements.

  • Declare dividends.

  • Ensure compliance with bylaws and applicable state and federal laws and regulations.

  • Approve and monitor effective risk controls for all areas of the Credit Union.

  • Appoint Supervisory Committee members.

  • Hire, supervise and evaluate the President/CEO.

Expectations:

  • Attend monthly board meetings, the annual meeting, special membership meetings and annual planning session.

  • Represent the Credit Union within the field of membership by promoting products and services as appropriate in day-to-day interactions.

  • Participate in educational programs as required.

  • Be a member in good standing and be bondable.

SUPERVISORY COMMITTEE DUTIES AND RESPONSIBILITIES

Primary Duties:

  • Oversee Board of Directors

  • Monitor financial condition and ensure continued sound operation of the Credit Union.

Specific Duties/Responsibilities:

  • Conduct audits on agreed-upon procedures as required by Kansas Statutes.

  • The Board of Directors authorizes the Supervisory Committee to hire a certified public accounting firm to review procedures and complete verifications of member accounts.

  • Meet with auditors and examiners in conjunction with audits and examinations.

  • Review policies and procedures and ensure all officers, committees, volunteers and employees operate in compliance with all policies and regulations.

  • Evaluate performance of Credit Union officials and, if necessary, suspend any Director or in accordance with state and federal regulations.

  • Review any corrective action executed by management.

  • Call special membership meetings as necessary.

Expectations:

  • One member of the Supervisory Committee attends the monthly Board meetings.

  • Attend the annual meeting, special membership meetings and annual planning session.

  • Represent the Credit Union within the field of membership by promoting products and services as appropriate in day-to-day interactions.

  • Participate in educational programs as required.

  • Be a member in good standing and be bondable.

VOLUNTEER GUIDE

Credit unions are not-for-profit organizations whose main mission is service to their members and their communities. They operate on a one member, one vote basis. Members own the credit union by maintaining a share, which allows that voting right.

Members who serve as volunteers on the board of directors, or other committees, are unique in the financial world because they assume tremendous responsibilities in guiding credit union operations without monetary compensation. The amount and type of work varies according to a credit union’s size and resources.

APPLY TO VOLUNTEER

Only requirement: Must be a member in good standing.

Disclaimer: Submission of this form gives your consent for us to contact you by phone or email. It does not guarantee your selection to a Board of Directors or Supervisory Committee position.