Here is the process to be a candidate for the Board of Directors or to be appointed as an Associate Board Member.

Transcription

1 December, 2017 Dear Potential Board of Director Candidate, The AurGroup Credit Union is a not-for-profit organization that is owned by its members. The primary function of the credit union is to serve its members. The Board of Directors of the Credit Union is made up of volunteers to represent its membership, instead of a limited number of shareholders as with other financial institutions. Volunteering to serve on the AurGroup Credit Union s Board of Directors can be an extremely valuable experience. Not only will you gain experience and knowledge, but you will also be representing your fellow credit union members. For 2018, AurGroup Financial Credit Union is seeking dedicated people to fill up to four (4) volunteer Board of Director positions serving a three-year term. It is the directors responsibility to set the credit union s objectives and long-term goals. As a Board Member, you have the ability to be a voice for the AurGroup Credit Union members and help us maintain a strong financial future. The Board may also appoint an Associate Board Member from the slate of candidates for Board of Director seats. The Associate Board Members are non-voting participants of the Board of Directors. Associate Board Members participate in all Board discussions and available committees. This is another way to volunteer with the Credit Union and become better acquainted with the Board activities. Attached please find the job description, qualifications and a self-evaluation to give you additional information about the position. In general, we are seeking individuals with a desire to represent our membership and have understanding of the credit union philosophy, ability to understand basic financial statements, think and plan strategically and are team players. Experience in information technology, law, marketing, finance/accounting or a related field are helpful but not required. The time commitment for these roles is approximately 6-10 hours per month. Here is the process to be a candidate for the Board of Directors or to be appointed as an Associate Board Member. 1.) By January 19, 2018 If you are interested in volunteering, please send or a cover letter indicated your interest and resume to: AurGroup Financial Credit Union Attn: Nominating Committee 8811 Holden Blvd. Fairfield, OH alambert@aurgroup.org 2.) Week of January 22, 2018 Nominating committee will hold interviews with candidates a. Please bring or the completed attached self-evaluation. b. Please also bring or a biographical sketch be included in the ballot 3.) February 20 th to March 20 th Credit Union Members vote on Board Candidates a. A maximum of 12 candidates will appear on the ballot. 4.) March 27 th, 2018 Election results announced at Annual meeting. If you have any questions about the Board of Director position, please feel free to call Tim Boellner, President/CEO at Again, thank you for your interest in this volunteer position. Sincerely, Nominating Committee of the AurGroup Credit Union Board of Directors 1

2 QUALIFICATIONS Candidates for election to the AurGroup Financial Credit Union (AFCU) Board of Directors must: 1. Be a primary member in good standing with an individual account (an organization membership does not qualify). The member must have at least $5.00 in his/her own active share account and have not caused a loss to AFCU. 2. Be at least 18 years old. 3. Meet the bonding requirement as set by our bonding company. 4. Be a member at least six months prior to the annual meeting. Note: You may be considered for an Associate Board member position if you have been a member for less than 6 months prior to the annual meeting. 5. Possess qualifications useful in directing the affairs of AFCU as determined by the Nominating Committee. 6. Be able to fulfill the duties and qualifications as outlined in the enclosed Job Description. 7. Meet other basic requirements as determined by the Nominating Committee. 8. Must be willing to devote the time necessary to ensure the success of the credit union. 9. Must be willing to learn about the credit union industry and meet minimum ongoing education requirements. 10. Must be open-minded and use sound judgment when working on behalf of AFCU. 11. Employees of AFCU are not eligible to run for the Board of Directors. 2

3 JOB DESCRIPTION BOARD OF DIRECTORS DUTIES Establish policies for all credit union operations o Loan terms, collection, charge-offs o Investments o Borrowing o Other Plan for the credit union s future. Ensure credit union adheres to pertinent laws, regulations and sound business practices. Ensure credit union maintains sound financial condition. Approve credit union s budgets. Answer/report to the credit union s members. Appoint committees Hire and evaluate the CEO. Ensure the credit union achieves its goals. Ensure adequate insurance coverage. 3

4 Board Candidate Self-Evaluation Applicant Name: Date: Reviewed By: Disposition: 4

5 Board Candidate Self Evaluation This self-evaluation is designed to help you make an informed decision about applying to become an AurGroup Financial Credit Union board member. It will be reviewed by the Nominating Committee and you will be contacted by a member of the committee for follow-up. Board Membership and Integrity: Is there anything in your background that you would not want publicly known, that if discovered, would significantly embarrass you and/or AurGroup Financial Credit Union and disqualify you from being a Board member? If YES, please do not complete this application. If NO, please continue with this self evaluation for application. Board Performance & Competencies: We have defined a set of Board Performance Criteria and Board Competencies that drive our overall Board effectiveness. Please evaluate yourself accordingly, understanding that these areas help you and us to evaluate you against the criteria as well as other interested applicants. Lack of experience in any area or even several is absolutely NOT a disqualifier but a helpful guide for your and our evaluation. Use the rating scale below and circle the appropriate number for each category. Please feel free to add any comments/experiences that may be appropriate. 5 - Extensive experience in this area 4 - Significant experience in this area 3 - Moderate experience in this area 2 - Minimal experience in this area 1 - No experience in this area I. Board Performance Criteria: Policy/Governance: Ensuring that our fiduciary responsibilities to stakeholders are met Future Direction: Overseeing the development of future goals and strategies to insure success 5

6 Committee Involvement: Being effective and efficient in examining issues and finding solutions via committees Mergers & Acquisitions: Overseeing the due diligence of mergers & acquisitions Overseeing the CEO: Adequately monitoring the CEO s performance and compensation Succession Planning: Insuring the continuity of the company through proper succession planning at the top 6

7 II. Board Competencies: (Note new rating scale definitions for Board Competencies; then define how WELL you think you can or have operated on each competency below) 5 - My skill here is Superior 4 - My skill here is Very Good 3 - My skill here is Acceptable 2 - My skill here Nearly Acceptability 1 - My skill here is Not Strong Ethics/Integrity: Operating with a strict sense of ethics/integrity Strategy: Creating a defined strategy for the future Capabilities: Having proper experience, business acumen and leadership behavior Communication: Maintaining effective communication with all stakeholders 7

8 Teamwork: Synergizing with others to get the best results Monitoring Performance: Effectively monitoring corporate performance Planning & Organizing: Making adequate preparation for Board meetings Decision-Making: Making sound decisions and supporting them to completion Board Accountability: Taking responsibility for the ongoing development of Board members 8

9 Summary Sheet Date: Applicant Name: Please summarize your self evaluation scores below by circling the appropriate rating. I. Board Performance Criteria: POLICY/GOVERNANCE FUTURE DIRECTION COMMITTEE INVOLVEMENT MERGERS & ACQUISITIONS OVERSEEING THE CEO SUCCESSION PLANNING II. Board Competencies: ETHICS/INTEGRITY STRATEGY CAPABILITIES COMMUNICATION TEAMWORK MONITORING PERFORMANCE PLANNING & ORGANIZING DECISION-MAKING BOARD ACCOUNTABILITY Please complete or attach a one-paragraph biographical sketch of yourself. Include anything that you think might help the voting members make an informed decision. Please limit your one-paragraph to 120 words. 9