Board of Director Elections

Being a director of a credit union is complex requiring eligible individuals the opportunity to fully understand the roles and responsibilities prior to standing for election at an AGM is imperative.  It is also important that the membership have advance notice of who is running for election to the board and their qualification.  

Persons who wish to run for a position on the Education Credit Union board of directors must file their intent in writing no later than 30 days prior to the Annual General Meeting.  Not less than 20 days prior to the AGM a standardized bio of each candidate will be posted on the credit union web site.  Members who wish to run for a position may contact a member of the nominating committee or Dennis Daub, CEO.

The annual meeting will be held November 30, 2010.

Standardized Bio

Board of Director nominees must provide a signed Notice of Intent to a member of the nominating committee or the CEO of the Education Credit Union by October 29, 2010.

In addition, the nominee must submit a short bio, no longer than 100 words, for publication on the web site no later than November 10, 2010. The bio should consist of the following:

• Relevant experience
• Current position/company/years
• Reason for seeking position
• Interest in advanced related training
• Any personal information you would like to include
  

2009/2010 Board of Directors

The Education Credit Union Board of Directors is elected by the credit union membership during the annual general meeting (AGM) and reports to the general membership.

The responsibility of a director generally is to direct the management of the business and affairs of the organization through its employees.   A director is not expected to become involved in the day to day operation of the organization, but be able to objectively evaluate the competence of management personnel and ensure that proper controls and procedures have been designed, and put into operation, to reach the targets or goals established.

Committees

A formal committee structure exists to support and expedite the work of the Board of Directors. Committees of the board are empowered to review matters requiring specialized expertise, issue formal recommendations, and in some cases, make decisions on behalf of the board. This allows the credit union’s Board of Directors to optimize its time, and achieve greater depth in its deliberations than would otherwise be possible.

Standing committee members are appointed on an annual basis, with each committee consisting of a minimum of three (3) directors.  The Chair of each Committee is appointed by the Board.

Duties and Obligations

Education Credit Union Directors are ‘fiduciaries’ of the organization they serve and are expected to fully participate in orientation and development opportunities.  They have an obligation to act honestly and in good faith with a view to the best interest of the credit union, and exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.

Composition of Board and Term

The board consists of nine members, each elected for a maximum term of three years.  If a director should resign or be removed from his or her position before their term of office has expired, the board shall appoint a temporary director from the credit union membership to fill the vacated position until the next general meeting of the credit union.  The member elected to permanently replace the resigned/removed director will complete the remainder of the term.