Board of Directors Nominations

The nominations committee is accepting nominations for the Casebine Board of Directors.

IMPORTANT INFORMATION

  • Board members are required to attend at least 70% of meetings.
    • Meetings are held the 3rd Tuesday of each month at 4:45pm, as well as special meetings via email / in person as needed.
  • Board members must be members of Casebine in good standing.

The board of directors is elected by credit union membership during the annual meeting and reports to the general membership. The board serves on a voluntary basis. The board consists of seven directors. The board of directors is part of the overall management team that includes a supervisory/audit committee and a credit committee as well as personnel (Chairperson, Vice Chairperson, Secretary and Treasurer/President) committee. The board of directors has the ultimate decision-making authority and responsibility for directing and controlling the affairs of the credit union and providing effective and efficient management of overall operations. The board approves policies that direct operational management and delegate the necessary authority to staff so they can fulfill their job responsibilities. The President/ CEO is in charge of the daily operations. The board supervises the President/CEO who reports directly to the board.

Board members have a fiduciary responsibility to their membership. That being said, board members should have a background in business or management. Each board member should be able to assess the financial condition and the operational quality of the credit union. The board should not be reliant on operational management to interpret financial data and other information received. The board must be independent and able to question management about issues they do not understand or are unclear.

Each board member should fully understand their duties and responsibilities. They should receive and review a written job description just as an employee would. The duties and responsibilities should be clearly stated in the job description given to all perspective board members so that expectations are perfectly clear. The following information should be included in the job description of a board member.

Board of Director Job Prerequisites– Each board member must be a member of the credit union (in good standing) and capable of the following so that they are an active and effective part of the board:

  • Be familiar with the CCCU policies set forth by the Board of Directors and follow them to the best of their ability.
  • Ability to read and interpret financial statements
  • Basic understanding of laws governing the credit union
  • Knowledge of risk measurements and effective management
  • Knowledge of and a commitment to credit union philosophy
  • Familiarity with asset liability management
  • Familiarity with lending and collections
  • Familiarity with a marketing concepts
  • Ability to work as a part of a team
  • Able to commit enough time to successfully complete all of the job duties and responsibilities
  • Strong oral communication skills
  • Maintain confidentiality of Board of Directors meetings and confidentiality of member information.

Specific Duties and Responsibilities– These duties and responsibilities should be reviewed not only by prospective board members, but no less than annually by all board members at the meeting immediately following the annual meeting and the review so noted in the board minutes.

The duties and responsibilities of all board of directors unless noted differently:

  • Attend monthly board and committee meetings, the annual general meeting, any special membership meetings and the planning seminar.
  • Reconvene monthly meetings at a later date if a quorum of the board is not present.
  • Provide input and participate in decisions of the board.
  • Read and evaluate monthly financial reports and other board materials before the meeting.
  • Ensure the credit union complies with all applicable legislation.
  • Act on all membership applications, either directly or through the appointment of a membership officer.
  • Approve credit union policy, financial statements, and the annual budget.
  • Work with management to develop short and long range planning based on objectives that meet member’s needs, reflect credit union philosophy, and assure sound operation.
  • Perform an annual written appraisal of the President/CEO (Chairman), that has been reviewed by the Personnel Committee.
  • Determine the minimum ownership share requirement.
  • Determine from time to time the services, loan interest rates and terms, deposit interest rates and terms, and types of deposits and loan accounts that the credit union shall offer membership.
  • Employ, establish compensation and duties of the President/CEO, terminate with due cause, if necessary.
  • Ensure the safe preservation of the credit union’s books and records.
  • Authorize the writing off of uncollectable loans and their removal from the books.
  • Propose amendments to the credit union bylaws, subject to approval by the regulatory authority.
  • Plan and reside over all annual and special meetings.
  • Report to the annual meeting on the activities occurring since the last annual meeting.(Chairman)
  •  Ensure that the monthly board minutes and any board committee minutes are in writing and prepared within 10 days of the respective meeting. Minutes shall be verified and approved at the next meeting by all board members. Such minutes shall contain the names of members present, the date, time and place of the meeting and a record of material discussion and all decisions made. (Secretary)
  • Appoint specific committees and task forces as may be necessary to improve the administration of the credit union and its services.
  • Ensure that the credit union’s supervisory/audit and credit committees are fulfilling their duties and responsibilities.
  • Fill vacancies on the board until the next annual meeting.
  • Keep the business of the credit union and its members confidential.
  • Disclose all conflicts of interest with any credit union business and refrain from voting on issues related to the conflict of interest.
  • Remain current on all credit union obligations with the credit union. AKA: a member in good standing.
  • Represent the credit union in the community.
  • Promote the credit union and its services as appropriate in day to day interactions.

Upon reading their job duties and responsibilities, each potential board member should date and sign that they have read the document. Their signature implies that they will perform the duties and responsibilities to the best of their ability. The signed document should be retained and should be available for review by regulatory authorities.

In addition to reviewing their duties and responsibilities each perspective board member, prior to the annual meeting and election, should provide their resume/bio to the nomination committee. This information should be retained and made available to the membership prior to the election so that each voting member can cast an informed vote. The background information of most interest to the voting membership includes: professional background, education, prior service on board of directors and  special skills in the areas of finance, business, marketing, public relations, legal technological, fund raising, etc.

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All nomination and board business is conducted via email
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