Board Member Job Description
To determine the strategic direction of the Credit Union and establish policies, approve goals and budgets that will meet the long-range objectives of the strategic plan.
- Works with the Chairman, CEO and other Board members to develop strategic direction, long-range plans and goals for the Credit Union.
- Ensures that the Credit Union adheres to pertinent laws and regulations.
- Approves policies and budgets that determine the parameters of management action and decision making. Major areas for policies include investments, lending and personnel.
- Represents the interest of all members.
- Actively promotes the Credit Union in the community.
- Ensures that new products and services are developed as needed and member satisfaction is maintained.
- Hires the CEO, defines the scope of the CEO’s job, appraises CEO and organizational performance. Delegates daily operations of the Credit Union and management of its staff to the CEO.
- In accordance with Board guidelines, regularly attends and participates in all Board meetings, planning sessions, appropriate committee meetings, and special board sessions. Carries out tasks as assigned.
- Ensures that ongoing volunteer succession planning occurs.
Board members have the authority to make decisions regarding the direction, objectives and policies of the Credit Union as well as the management of the CEO. They need to make sure that the Credit Union adheres to laws and regulations governing Credit Unions. Board members can and act only as a board, not as individuals.
Volunteer board members offer the Credit Union one of its greatest strengths. Board members need to have sound judgment, a willingness to learn and contribute to the group process. They do not need to be experts in financial management to make valuable contributions to the sound development of the Credit Union.
In order for volunteer Board members to make their greatest contribution, the Credit Union has developed the following list of desired characteristics. Individual board members will find it useful to incorporate these behaviors into their style of interaction.
- Mutual respect and trust of fellow volunteers and staff
Acceptance of the role of board members
- Commitment to participate, share ideas and be heard, and give consideration to ideas of others
- Sharing the common organizational vision
- Maintaining confidentiality
- Following the “chain of command”
- Being the image of a “team player” by:
- helping team members attain goals
- supporting team members
- accepting the good with the bad
- always displaying a constructive attitude internally and externally
- keeping organizational goals as the top priority, rather than individual goals