Closed in Observance of Thanksgiving
ISU Credit Union will be closed Thursday (11/23) and Friday (11/24) so employees can spend time with their families. Online Banking, Smart Phone Apps, Mobile Banking, PAT and ATM access will be available.

Board of Directors Election

Dear Member:

Thank you for your interest in running for a Director seat on the Board of Directors of Idaho State University Federal Credit Union.  We are a member-owned, nonprofit cooperative thrift institution formed for the purpose of encouraging savings by offering a reasonable return, using collective funds to make loans at competitively low interest rates to members and providing other member services on a cooperative basis.  Members are united by a defined field of membership and democratically operate the Credit Union in compliance with state and federal laws and regulations.  As such, Idaho State University Federal Credit Union’s Nominating Committee has established minimum requirements to be nominated for a seat on the credit union. They are:

  1. Be a member in good standing at the Credit Union.
  2. Be at least 18 years of age.
  3. Never been convicted of a crime involving dishonesty or breach of trust.
  4. Be honest, of high integrity, and willing to act solely for the interest and benefit of the credit union and its members.
  5. Be able to devote the time necessary to attend meetings and other functions.
  6. Not a current employee of Idaho State University FCU or other financial institution.
  7. Not a former employee of Idaho State University FCU or other financial institution within the previous three years.
  8. Not a spouse or close family relation of a current employee or volunteer at Idaho State University FCU.
  9. Not a spouse or close family relation of a former employee who was employed by Idaho State University FCU within the previous three years.
  10. Not a volunteer or paid board or committee member of a financial institution.

If the Nominating Committee does not nominate you for the election ballot, you may still be nominated by petition by securing a minimum of 307 and a maximum of 500 valid signatures from members of Idaho State University Federal Credit Union, who are in good standing.  However, in order to be eligible for nomination by petition you must meet the first three requirements or your name will not be added to the ballot.

Board Nomination Packet

WHY VOLUNTEER?

While different things motivate different people, some of the following reasons are often cited as the benefits of being a volunteer:

  1. Meaningful opportunity to contribute—to help others.
  2. Community recognition.
  3. Affiliation with others.
  4. Opportunity to contribute to members’ financial welfare.
  5. Increase planning, policy and management experience.
  6. Recognition by peers and employers.
  7. Staff-volunteer social events.
  8. Conferences and travel.
  9. Learning experience.

MISSION STATEMENT OF ISU FEDERAL CREDIT UNION

"To deliver an exceptional financial experience, enrich the lives of our members, and benefit our educational partners."

DIRECTORS DUTIES AND RESPONSIBILITIES

  1. At a minimum, directors must be able to read and understand the credit union’s balance sheet and income statement and answer the following questions:
    • What does each particular line item on the balance sheet and income statement mean?
    • Why is it important to the credit union?
    • Is the value of any line item changing over time? If so, what does the negative or positive change mean?
    • Is the change important to the credit union?
  2. Meet at least once per month to direct and control the affairs of the Credit Union.
  3. Appoint members of the supervisory committee and other committees, as needed.
  4. Provide for the proper bond and fidelity coverage for officers and employees.
  5. Fill vacancies on the board until the next annual meeting.
  6. Hire a President/CEO and determine responsibilities and compensation.
  7. Declare all dividends and establish lending policies.
  8. Establish and amend, as approved by NCUA, the field of membership of the credit union.
  9. Provide for an annual meeting and election of officers.
  10. Authorize the charge off of delinquent loans.
  11. Appoint, control and direct the financial officer who shall have custody of all funds, securities, papers and assets of the credit union.
  12. Ensure that minutes are kept of all official meetings.

TRAINING FOR VOLUNTEERS

New and current volunteers will receive numerous opportunities to upgrade their skills and knowledge.  New directors will receive training and will have six months from their appointment or election to the Board of Directors to be able to answer question 1(a) through 1(d) shown above in Directors Duties and Responsibilities.

Additional educational opportunities range from monthly credit union publications provided to each member of the board, to more formal training sessions conducted by the Idaho Credit Union League and conferences conducted by nationally recognized experts in various fields. Training is also offered through a home study format called Volunteer Achievement Program.

TIME INVOLVED

Currently, most board meetings are held the third Thursday of every month at the credit union’s administration office, beginning at 3:30 p.m.  Board meetings usually last about two hours. Occasionally, board members will be asked to attend a special meeting, training or overnight planning session.  These additional meetings average about four per year.

 CHARACTERISTICS OF SUCCESSFUL CREDIT UNIONS

  1. Harmony and mutual respect between the individual Directors and President/CEO.
  2. Development, implementation, and supervision of an overall business plan for the credit union that identifies goals and objectives, detailed written policies and procedures, annual operating budgets and monthly reporting requirements.
  3. Contingency planning which results in diversification of assets and liabilities, expansion of fields of membership, investigation of proposed services and activities, and computer modeling to project results.
  4. Required training classes for all officials and employees.
  5. Meaningful and cost-effective products and services delivered in a convenient, professional manner.
  6. Members being treated with respect and courtesy by employee and volunteers
  7. Fast and fair response to member inquiries and complaints.
  8. Awareness of local, regional, national, and international events and trends, which may affect the credit union, its members, its regulator, or its insurer.
  9. Positive outlook and dedication to excellence on the part of officials and employees.

We hope this introduction helps you to understand a little bit about Idaho State University Federal Credit Union, requirements for nomination, time commitment and training involved in becoming a productive Director on the Board.  If you wish to be considered for nomination, please complete the application and return it to the following address by December 28, 2017:


ISU Credit Union Nominating Committee
353 North 4th Ave., Suite 210
Pocatello, ID 83201

Sincerely,

Idaho State University Federal Credit Union
Nominating Committee

Application

Applications for a position on the ISU Credit Union Board of Directors must be submitted by December 28, 2017.

Click here for an application.

Nomination Procedure

Nominations Procedures

The 2017 Annual Meeting of Idaho State University Federal Credit Union will be held Wednesday, March 28, 2017 at 5:00pm at E. Sunnyside Road, Idaho Falls, ID 83401.

1. The chair will appoint a nominating committee of three or more members by November 28, 2017. It is the duty of the nominating committee to nominate at least one member for each vacancy, including any unexpired term vacancy, for which elections are being held, and to determine that the members nominated are agreeable to the placing of their names in nomination and will accept office if elected.


2. The nominating committee files its nominations with the secretary of the Credit Union by December 28, 2017, and the secretary notifies in writing all members eligible to vote that nominations for vacancies may also be made by petition signed by 1% of the members with a minimum of 307 and a maximum of 500 by January 12, 2018. The secretary may use electronic mail to notify members who have opted to receive notices or statements electronically.


3. The notice must indicate that the election will not be conducted by ballot and there will be no nominations from the floor when the number of nominees equals the number of seats to be filled. A brief statement of qualifications and biographical data in a form approved by the board of directors will be included for each nominee submitted by the nominating committee with the notice to all eligible members. Each nominee by petition must submit a similar statement of qualifications and biographical data with the petition. The notice must state the closing date for receiving nominations by petition. In all cases, the period for receiving nominations by petition must extend until February 12, 2018. To be effective, a signed certificate must accompany nominations by petition from the nominee or nominees stating that they are agreeable to nomination and will serve if elected to office. Nominations by petition must be filed with the secretary of the Credit Union by February 16, 2018 and the secretary will ensure that nominations by petition, along with those of the nominating committee, are posted in a conspicuous place in each Credit Union office prior to February 21, 2018.