Board of Directors
Dr. Randy Reece
Dr. Frances Roberson
BOARD OF DIRECTORS & SUPERVISORY COMMITTEE DUTIES & RESPONSIBILITIES
Volunteering to serve on your Credit Union’s Board of Directors or Supervisory Committee can be an extremely rewarding experience where you can share your knowledge and expertise while representing your fellow Credit Union members in our community. Volunteers act as ambassadors for the Credit Union.
As a not-for-profit cooperative that wants to assist our members achieve their financial goals, members are considered “owners” of the Credit Union, and as such, elect other members to serve on the Board of Directors. These volunteers maintain a balanced focus on serving the needs of the membership while preserving the financial strength and long-term viability of the Credit Union and ensuring fiscal responsibility. Once elected, these volunteers have the opportunity to share their business experiences, leadership skills and management capabilities in a team environment. The nominating committee will review nominees who possess the skills and experience necessary for the volunteer position. The election or re-election of Directors is held at the Credit Union’s Annual Meeting each year.
All Board members are nominated and elected in accordance with policy and Bylaws approved by the State of Georgia Department of Banking and Finance.
By applying for the position of a Director on the Board of Directors, applicants are committing to dedicate the necessary time and resources to fulfill their obligations as a Director.
The Board of Directors are elected for three-year terms commencing from the date of election. Supervisory Committee members are appointed for two-year terms.
Members of the Board of Directors and Supervisory Committee are expected to adhere to the following attendance guidelines:
- Directors are required to attend regular scheduled monthly Board of Directors meetings, with not less than an 80% attendance rate per Director. Less than 80% attendance provides grounds for removal from the Board. Per the Policy Manual, a director may be removed due to lack of attendance and his/her candidacy for a subsequent term may be rejected. Supervisory Committee Members are required to attend regular scheduled Committee meetings, with not less than an 80% attendance rate per member.
- Participate in Committees of the Board of Directors, as appointed.
- Attend Board Work Sessions, Workshops and other Training opportunities.
- Attend the Credit Union Annual Meeting and other special events, as needed.
- Attend Strategic Planning Sessions, as scheduled.
Members of the Board of Directors are expected to adhere to the following obligations:
- Establish policy.
- Select, annually evaluate and support the President/CEO.
- Monitor finances and assure financial soundness.
- Develop, monitor and update long-range plans.
- Assure that products and services meet the needs of the members.
- Keep current with all regulations policies and trends in order to make sound critical decisions.
- Attend/complete annual training seminars.
- Upon completion of all training seminars provide a brief presentation to the Board in order to expand that training to the entire Board of Directors.
- Report immediately to the Chairman any conflicts of interest that would prohibit the applicant from fulfilling duties and responsibilities as a Director.
- Strictly abide by the Credit Union of Georgia’s Code of Ethics Policy.
- Respect and maintain confidentiality of information revealed to Directors.
- Acknowledge and respect the fact that individual Directors exercise no power over Management, employees or operations of the Credit Union of Georgia, except when the Board meets and decides issues as a Board.
Members of the Board of Directors and Supervisory Committee are expected to adhere to the following duties:
- Attend meetings.
- Be well informed of agenda items in advance of meetings by reviewing upcoming agenda items on CU Boardroom.
- Listen respectfully to other points of view.
- Participate in open exchange of ideas.
- Participate in decision making.
- Represent the Credit Union to the public and to members.
- Be educated on the needs of the members served by the Credit Union.
- Participate in training events to increase knowledge to better serve the membership.
- Successfully complete the CUNA online course within the initial six (6) months of service as a Director for the term elected, as well as refresher courses.
CODE OF CONDUCT
The Credit Union has adopted a code of conduct to ensure that all Board of Directors and Supervisory Committee members are held to appropriate ethical standards.
To be eligible for candidacy to the Board of Directors and Supervisory Committee, applicants are expected to meet the following requirements:
- Candidate must meet the minimum age requirement of 18 years as of the election date,
- Candidate must be a member in good standing at the Credit Union of Georgia. Good standing is defined as:
- $10 minimum balance.
- No delinquent loans.
- Candidate must be a United States citizen.
The Application to serve on the Board of Directors is posted on www.CUofGA.org in the month of September. Applicants interested in serving on the Board of Directors should complete the application and submit it along with a headshot and resume to the President/CEO of Credit Union of Georgia by the close of business on October 15th. If October 15th is a non-business day, the application must be submitted on the next business day. Applicants can deliver the materials to any branch location or mail to Credit Union of Georgia, Attn: President/CEO, P.O. Box 2148, Woodstock, Georgia 30188. The application will then be reviewed by the Nominating Committee of the Board of Directors. If the applicant has met all the requirements necessary and is put forth by the Nominating Committee they will go before a vote at the next Annual Meeting in the month of April.
Applicants interested in serving on the Supervisory Committee should complete the application and submit it along with a headshot and resume to the President/CEO of Credit of Georgia. Applicants can deliver the materials to any branch location or mail to Credit Union of Georgia, Attn: President/CEO, P.O. Box 2148, Woodstock, Georgia 30188. The application will then be reviewed by the Board of Directors.
EDUCATION & TRAVEL
Education is imperative and highly recommended for the Board of Directors as the regulatory and operational environments become increasingly more complex. The Board of Directors and the Supervisory Committee are essential to the overall management of the ever-changing Credit Union environment. As Volunteer Leaders, Strategic Decision Makers and Compliance Officers, the Board and Supervisory Committee members must be informed and up to date with regulations, statutes, governance expectations, legal precedents, fiduciary obligations and institutional best practices to effectively address the risks and growth objectives of the Credit Union. Continuing education and networking with peers and vendors across the United States are necessary for the Board of Directors to bring new ideas and technologies back to the CU for the benefit of the membership and organization.
To meet these educational responsibilities, members of the Board of Directors and Supervisory Committee are encouraged to attend off-site training. Along with the Board and/or Supervisory Committee member, the Credit Union covers the expenses for a guest or spouse of an official for official travel, which is in compliance with NCUA Rules and Regulations. 12 C.F.R. §701.33(b)(2)(i). As with any business travel the Credit Union pays for travel related expenses within reason including mode of transportation, hotel (for the duration of the conference exclusively), meals, parking, taxis, etc. The Credit Union does not pay for entertainment during these conferences.
The Board of Directors and Supervisory Committee members are provided with the necessary tools to perform their duties. A cell phone along with an iPad are provided to officials as they are expected to be on call and available for Credit Union business year-round. The iPad is used to access Board Packages, Supervisory Committee Packages, policies, along with all other relevant information. Most Board Packages are in excess of 200 pages, with some being over 500 pages. The Credit Union is conscious of our environmental footprint and provide iPads in lieu of having to print materials. When a Board Member resigns or leaves the Board, they have the option of purchasing their technology hardware or returning it to the Credit Union. The cell phone and iPad are property of the Credit Union.