Energy CU Board of Directors
Duties and Responsibilities
Call for Nominations to the Board of Directors
The Board of Directors of The Energy Credit Union is seeking nominations of qualified candidates to run for election to the Board, representing our nearly 4,000 members. The Board ensures the success of the credit union by developing and approving our Strategic Plan, our long-term goals, mission and vision.
Board of Directors: Board members are elected to three year terms of office by The Energy Credit Union’s (TECU’s) membership at the annual meeting. They set future strategy, develop policies, oversee TECU’s financial security, review the CEO’s progress in achieving goals and objectives, represent the interests of the entire membership, and report to the members at the annual meeting. In addition to attending monthly board meetings, directors have opportunities to serve on committees and task forces and to receive free training and education on issues important to the Credit Union and its members.
Audit Committee Members: Committee members are appointed by the TECU’s Board of Directors on an annual basis. The Audit Committee verifies Credit Union records, monitors financial controls and procedures, and works with TECU’s internal auditor and external audit firm. Committee members typically meet on a quarterly basis, and have access to free training and education to help them fulfill their role.
Board of Directors Duties
- Establish policy.
- Select, appraise (annually), and support the Chief Executive Officer.
- 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 and/or complete relevant annual training seminars/sessions (seminar costs) will be – reimbursed by the Credit Union).
- Upon completion of all training seminars provide a brief presentation to the board in order to – expand that training to the entire board.
- Report immediately to the Chairman any conflicts of interest that would prohibit you from fulfilling all of your duties and responsibilities as a Director.