Board Member - Volunteer

USALLIANCE Financial•Rye, NY

About The Position

USALLIANCE is a full-service not-for-profit financial institution federally insured by the NCUA, offering a full range of checking, savings, credit card, and loan products as well as various online banking services to over 150,000 members worldwide. USALLIANCE Federal Credit Union (USALLIANCE) seeks to build and maintain a board comprised of leaders committed to our mission of providing our members with exceptional service, innovative financial products, and easily accessible tools and support. We have an Associate Director program which is designed to give people interested in USALLIANCE the opportunity to learn about the work our volunteers do, take part in training opportunities and participate in some of the work of the board. Many of our Board members first volunteered as Associate Directors or on the Supervisory Committee. To ensure diversity of thought, background, and experience, we are looking for directors who reflect the broad range of our membership communities, as well as possess the experience and perspectives outlined below. Time and enthusiasm for the Credit Union and for the Credit Union movement. Executive and leadership experience Varying professional and personal experiences, and skills; and Membership of, and willingness to use, personal and professional networks for the benefit of the Credit Union and its members. Examples may include through employment, unions, not for profit organizations and educational entities that can collaborate with the Credit Union to deliver its mission; Role of the Board The Board of Directors is elected by the members from the membership. They provide general direction and control of the credit union, and meet at least once a month. The Bylaws require at least five (5) and no more than 15 Directors, and that the total number of Directors be an odd number. The Board decided there should be nine (9) Directors, each serving a three-year term. Members of the Board are volunteers who are not compensated. The Board is responsible for the governance of the Credit Union, for carrying out duties specified by the Act and Bylaws, and for ensuring compliance with applicable laws, regulations, the Bylaws of the Credit Union, and policies and procedures concerning the Credit Union. The Board establishes procedures to manage itself and the Credit Union. The core responsibilities of the Board relate to Governance and Leadership. They fall into the following areas: Selection of the President/CEO, monitors and evaluates his/her performance, and compensates him/her fairly and competitively. Approves of the strategy, accepts the risks associated with the strategy, and empowers the President/CEO to execute the strategy. Review and approval of the annual financial plan to empower the President/CEO to execute the Board approved strategy. Monitoring the performance and results of the credit union. Monitoring the Board’s own effectiveness and assuring that its own members are qualified to serve and contribute to the credit union’s success. To be effective, Board members need to ensure they understand USALLIANCE’s operating environment and the external factors that impact it; the credit union movement; our membership and their communities; and the trends and events that present both opportunities and risks. Board members are expected to keep current with respect to the external environment and best practices, and not rely only on management and formal training events for information. The Board delegates to the President/CEO the responsibility for operational matters. The President/CEO organizes and directs the work of the Credit Union’s staff. A critical accountability of the President/CEO is ensuring the Board has insight into the performance of USALLIANCE as each year unfolds, the expected outcomes of the year, and an understanding of the risks and opportunities being faced. It is important that the President/CEO is given clear guidance and support from the Board as a single body, rather than from nine individuals. Therefore, the relationship between the Board and the President/CEO is managed by the Chair on behalf of the Board. Communication, suggestions and questions from Board members must flow through the Chair to the President/CEO. In addition, Board members should not interact on Board matters with employees of the Credit Union without the prior consent of the Chair and the President/CEO. Similarly, employees of the Credit Union should not engage with Board members on operational matters without the prior consent of the President/CEO and Chair. Role of Individual Directors Duty of Care: The duty of a Director is to act a) in good faith and b) with the care that a reasonable person in a similar position would believe appropriate under similar circumstances. A Director is permitted to rely upon experts for advice, but a Director may not simply accept the information presented. Rather, the Director must assess the information with a “critical eye,” to protect the interests of the credit union and its members. Duty of Loyalty: A Board member must act in a manner he or she believes to be in the best interests of the credit union. They must put the interests of the credit union above their own, and are not permitted to use their position of trust and confidence to further their private interests. The Director has not only an affirmative duty to protect the interests of the credit union, but also to refrain from doing anything that would bring injury to the credit union, or to deprive it of profit or advantage which his or her skill and ability might properly bring to it, or to enable it to make in the reasonable and lawful exercise of its power. Duty of Obedience: Board members must obey applicable federal, state and local laws, the credit union’s Bylaws and policies, and especially, be faithful to the organization’s mission. Directors must act in a way that is consistent with the goals of the credit union. The main activities of the role of Director are to: Actively engage, contribute, participate and ask questions Keep informed, prepare for and attend Board meetings Regularly monitor financial safety and soundness Participate in Board development and educational activities Support the Credit Union’s external efforts and activities Be an advocate, promoting the mission and benefits of the Credit Union The Bylaws state if a Director fails to attend regular meetings of the Board for three (3) consecutive months, or four (4) meetings within a calendar year, or otherwise fails to perform any of the duties as a Director, the office may be declared vacant by the Board and the vacancy filled as provided in the Bylaws. Expectations for the Behaviors, Attributes and Values of Individual Directors Each individual brings their own professional and personal experiences, their skills, their time and their enthusiasm for the Credit Union and for the Credit Union movement to their delivery of the role of Director. Diversity of experience and perspectives amongst Directors is intended to benefit the work of the Board. The Board has established expectations for the way that Directors operate to ensure the Credit Union’s success. They include: Behaviors– USALLIANCE expects the following behaviors for its Board members: Responsible – Regularly participates and follows through on commitments. Offers support when needed. Critical Thinker – Proceeds imaginatively and innovatively about how to understand challenges and achieve desired outcomes. Adaptable – Able and willing to adjust one’s ideas or behaviors to suit new conditions or a changing environment. Forward-Thinking/Strategic – Able to envision, think and plan into the future. Effective Communicator – Shares insights and asks thoughtful questions to clarify issues and strengthen decision-making. Independent Mindedness – Not afraid to “go against the crowd.” Attributes – USALLIANCE seeks out the following attributes in its Board members: Judicious – Possesses common sense; can balance tradeoffs when making decisions. Dependable – Capable of being trusted and relied upon. Cooperative – Understands how to work effectively work with others to achieve a common goal or objective. Community-Minded – Interested in helping individuals achieve financial well-being; socially concerned. Accountable – Willing to hold oneself – and others – to goals/promises. Decisive – Able to synthesize complex information and make a firm decision. Creative – Has the ability to use one’s imagination to generate new ideas. Open to innovation. Values – USALLIANCE expects the following values for its Board members: Ethical – Acts with integrity and makes decisions in a principled and moral manner. Collaborative – Seeks to cooperate with others to accomplish better outcomes. Respectful – Recognizes the worth of others. Fair – Is impartial and just; makes decisions without favoritism or discrimination. Equitable – Seeks to recognize and eliminate barriers that prevent fair outcomes for all.

Requirements

Time and enthusiasm for the Credit Union and for the Credit Union movement.
Executive and leadership experience
Varying professional and personal experiences, and skills
Membership of, and willingness to use, personal and professional networks for the benefit of the Credit Union and its members. Examples may include through employment, unions, not for profit organizations and educational entities that can collaborate with the Credit Union to deliver its mission