External Overview We appreciate your interest in applying for the Board of Directors. Applications can be completed electronically or by completing the physical forms and mailing them to our Post Office Box (Nominations Sub-Committee, Hudson Valley Credit Union, P.O. Box 1071, Poughkeepsie, New York 12602-1984). All forms must be received either online or at the Nominations Sub-Committee's Post Office Box no later than 5:00 PM EST Friday, February 2, 2024. External Qualifications
Each candidate must be at least 18 years of age to hold elective office. Each candidate must be a member who has not caused a financial loss to the credit union and/or is not in denial of services. A member is defined as the primary owner of a primary savings account. Each candidate must have a satisfactory credit check, a background check, a bondablity check, and must not have been convicted of a felony or a crime involving dishonesty or breach of trust, nor have been determined to be guilty of a fraudulent act by a legally constituted body. Each candidate must state his or her willingness to run for the position and to serve if elected. Candidates cannot have been an employee of Hudson Valley Credit Union within a minimum of two years from the application received date. Each candidate is prohibited from engaging in any act which is, or could be, or could appear to be in conflict with their status as a volunteer. This includes the use of one's position with the credit union for personal profit or advantage. External Responsibilities The Nominations Sub-Committee may schedule in-person interviews with candidates that will take place between February 5 and March 5. Invited candidates must be available for an interview during that time. By March 8, the Nominations Sub-Committee will determine the slate of candidates and notify all applicants. By March 15, 2024, nominated candidates must approve their biographical and personal statement information that will be sent to members. If there are more candidates than open positions, ballots will be sent to members in late May 2024, and the results announced at the 2024 Annual Meeting on Thursday, June 20, 2024. We hope that nominated candidates can join us that evening when the results are announced. The credit union has three open positions for Board Members in this election; each new member will serve a three (3) year term. Successful nominees who are voted into office will begin their service immediately following the Annual Meeting. Please review the attached job description for serving as a volunteer on our Board of Directors before completing the application form. It has detailed information on the expectations and time commitment for all Board Members. Thank you, again, for your interest in serving our financial cooperative. We look forward to receiving your application by February 2nd.. Board of Directors Duties Responsible for establishing the overall governance, mission, vision, values, and long-term strategic direction for the Credit Union. Embrace and engage in a constructive partnership with the President/CEO, senior management and Supervisory Committee to effectively govern and continually improve the performance of the Credit Union. Approve and monitor the risk profile of the Credit Union. Fulfill legal duties and adhere to regulatory requirements. Act at all times in the best interests of the Credit Union and its members to ensure its safe, legal, compliant and prudent operation. Support HVCU's engagement in the communities in which the Credit Union serves its members. Governance and Leadership
- Govern and lead the Credit Union in constructive partnership among the Supervisory Committee, CEO and senior management.
- Act at all times in good faith and in a manner that the Director believes is in the best interests of the Credit Union and its members.
- Develop and continuously improve the Credit Union's governing policies and procedures ensuring equitable treatment of members and employees.
- Ensure there are clear and agreed-upon roles and responsibilities for all elements of the Credit Union's governance structure, including committees established by the Board and monitoring such roles and responsibilities to ensure ongoing effectiveness.
CEO Support and Oversight
- Select the CEO and clearly determine their job duties, responsibilities and level of authority.
- Without limiting the authority of the Board, appropriately delegate day-to-day operational and management authority to the CEO.
- Assist, counsel, support, oversee, and regularly evaluate the performance of the CEO.
- Foster the CEO's effective leadership and management of the Credit Union's personnel, operations and activities through the development of a constructive partnership.
- Facilitate and maintain open and candid communication with the CEO.
Oversee Performance and Results
- Understand the Credit Union's financial documents. Approve the annual budget.
- In a constructive partnership among the Supervisory Committee, the CEO and senior management team, determine the Credit Union's key metrics of strategic and overall operational success measures.
- Monitor, analyze, and oversee the Credit Union's revenues, expenses, financial ratios, key metrics, performance indicators, and results of the Credit Union's efforts, growing the intrinsic value of the organization.
- Be actively engaged, curious, and inquisitive; ask appropriate substantive, strategic questions, and provide relevant and actionable feedback to the CEO and senior management team to improve the Credit Union's performance and results.
Strategic Thinking, Learning, and Planning
- Embrace and nurture a leadership culture grounded in strategic thinking, learning, and dialogue.
- Maintain an effective ongoing process and focus on strategic efforts and their execution.
- Together with the CEO and senior management team, formally establish the vision, mission and strategic goals, objectives and metrics of success for the Credit Union.
- Regularly monitor strategic progress and performance.
Risk Management
- Working with the Supervisory Committee, CEO and senior management team, participate in developing an appropriate risk appetite for the Credit Union and ensure the strategic plan, budget, policies, and other relevant documents align to that risk appetite.
Membership and Community Outreach
- Thoughtfully represent the members' interests.
- Be active ambassadors to the Credit Union's membership on behalf of the Credit Union.
- Promote and positively represent the Credit Union's brand, image, and benefits to members, prospective members, and the community at large.
- Engage with the communities where the Credit Union operates.
- Assist the Credit Union in identifying and forming crucial partnerships with other Credit Unions, organizations, groups, etc.
Stewardship, Ethics and Financial Integrity
- Maintain, monitor, and ensure the safety and soundness of the Credit Union and its assets.
- In partnership with the CEO, senior management, and the Supervisory Committee, retain independent auditors, accountants, and legal or governance counsel as needed.
- Ensure that the Credit Union acts ethically and with integrity consistent with a cooperative, not-for-profit institution; as a Board member, hold oneself to the same standards.
- Ensure ongoing monitoring and compliance with all laws, rules, and regulations applicable to the Credit Union and all its activities, as well as fulfilling those obligations as individual Directors (e.g. completing annual Bank Secrecy Act training).
Legal Duties A volunteer of HVCU must adhere to the following legal duties in the performance of their roles:
- The Duty of Care requires a volunteer to make decisions that pursue HVCU's and its members' interests with reasonable diligence and prudence.
- The Duty of Loyalty requires a volunteer to act in good faith, placing the interests of HVCU and its members before any of their personal interests while avoiding conflicts of interest.
- Duty of Obedience requires a volunteer to remain faithful to HVCU's mission, vision, and values, including compliance with relevant federal, state, and local legal requirements, as well as approved policies and procedures of HVCU.
- The Duty of Confidentiality requires a volunteer to maintain the confidentiality of all non-public, proprietary, or sensitive information about HVCU that they are privy to by virtue of their position. A volunteer may not use any form of such information for their personal gain.
Additional Resources
- FAQ's
- Understanding HVCU
- Duties of Credit Union Boards of Directors
- Unable to submit an electronic application? Download a physical form here.