Serving as a local credit union volunteer can be an extremely rewarding experience. Supporting your fellow credit union members not only benefits them but will provide you with valuable knowledge for years to come. If you love our community and are all about keeping it interesting, serving on our Board of Directors may be for you!
About the Board of Directors at White River CU
Credit Unions are a not-for-profit cooperative that helps members realize their financial goals and dreams. Members are considered “owners” of the credit union; therefore, they have the responsibility to elect members to serve on the Board of Directors. If elected, responsibilities of the Directors include setting credit union policies, objectives, and long-term goals to keep White River Credit Union serving the community. Additionally, the Board of Directors have the opportunity to share their business experiences, leadership skills, and management capabilities in a team effort.
What Responsibilities Would I Have?
A Director’s primary responsibility is to safeguard each member’s financial assets and meet our member’s needs in terms of products and services. The Board of Directors develops a road map of priorities (strategic planning) for management and staff to follow. Directors set policy in such areas as: lending, collections, and investments, to name a few.
The Board of Directors attend a primary meeting once per month, held on the 2nd Tuesday starting at 5:30 p.m., and the meeting often takes two (2) hours. Directors may attend virtually or in person.
Occasionally, additional meetings may be necessary and can be scheduled day or night.
Director meetings are a serious commitment and must be given high priority in one’s schedule. Critical information is shared at each meeting, and your attendance will be expected to make intelligent decisions for the credit union.
Would I Make A Good Credit Union Volunteer?
Volunteers must maintain a balanced focus on serving member needs while preserving the financial strength of the credit union. Below are some important factors to consider prior to becoming a credit union volunteer:
- Become familiar with White River Credit Union products and services.
- Understand the economics and social conditions affecting the credit union.
- Be committed to attending both scheduled meetings and educational programs offered by the credit union.
- Be a member in good standing and utilize White River Credit Union for your primary financial accounts.
- Act as an ambassador for your credit union. Pay attention to the needs and wants of fellow members as well as the community at large, and report your findings to credit union management.
- Always put the credit union first. The safety and soundness of White River Credit Union should come before any personal agendas.
If Elected, How Long Do I Serve?
Directors are elected to a three (3) year term and may run for re-election should they so desire.
When running for a vacant Board of Directors position, all that is required of you is to be a member in good standing.
Compensation and Education
How do a few high fives and a big “hip-hip-hooray!” sound? There is no compensation for our Board of Directors, thus the literal meaning of “volunteer”.
However, White River Credit Union stresses the importance and relevance of education to our volunteers. The credit union provides each Director with several online educational opportunities.
Are There Potential Liabilities For My Service?
Serving as a volunteer carries certain legal responsibilities. Failing to follow organizational procedures and sound business principles has resulted in filed lawsuits. The following are just a few areas one should avoid:
- The approval of self-serving, improvident or excessive loans.
- Non-compliance with regulatory directives.
Please note that past incidences of Directors involved in lawsuits are rare and only occur in extreme circumstances. In this position, keys to success include attending scheduled meetings, staying informed on industry developments, and evaluating credit union financial performance.
I’m in! How do I apply?
Serving as a credit union volunteer is a highly responsible and challenging position, which brings about tremendous satisfaction in the helping of others.
To volunteer for your credit union, simply email Brandy@WhiteRiverCU.com to express interest.