Volunteer Board of Directors
Our volunteer Board of Directors is made of members just like you who bring their managerial and financial expertise to the table.
Who can be a board member?
Any adult member of Fairmont Federal Credit Union (in good standing) may volunteer to run for election to the Board and help steer our course. Board terms last three years. Directors must be members in good standing of the Credit Union; be at least 21 years of age; be willing to agree to a criminal background check and a credit check; and be bondable.
What does a Board Member do?
Board members are responsible for setting policies, approving budgets, and helping to direct strategic planning. They evaluate operations and maintain financial performance standards for the credit union. They are also responsible for appointing the credit union's President/CEO, who reports directly to the Board. The Board position is voluntary and unpaid.
What does it take to be a Board Member?
Candidates should possess the personal qualities that are needed to enable them to serve the Credit Union well. They should be honest, unselfish and act for the good of the Credit Union's members. They should be interested in the Credit Union and sufficiently generous to give their own time and skills to the affairs of the Credit Union. They must have the ability to understand and must be able to think for themselves.
How long does each Board Member serve?
Terms are for three years. Board members typically devote a minimum of approximately 3 – 5 hours per month to credit union business, including attending monthly Board meetings at our headquarters in Fairmont. Additional time may be spent gathering information and training. Courses of study are available to Board members to help them learn more about the operation of a financial institution.
What are the benefits of being a Board Member?
You'll be a representative voice for your fellow members, and have a direct say in the overall direction of the credit union. You gain knowledge and experience about the running of a financial institution, strategic planning, and about the credit union movement. Board members may also attend conferences and seminars on credit union topics in various locations throughout the country. It is a great way to become part of a unique organization that affects the financial lives of thousands of members.
How do I become a candidate?
If you would like to run for a position on the credit union's Board of Directors, you may
- Contact our Nominating Committee and submit a resume with qualifications, or
- Have your name placed on the ballot via petition. Petition requires signatures of primary members totaling 1% of total membership.