Volunteering for Your Credit Union
Ideal Credit Union is member-owned and governed by volunteers, in various roles. We seek members like you, who are passionate about the credit union industry and want to be a part of Ideal CU’s ongoing growth and commitment to member service.
Volunteering for the Board of Directors, Supervisory Committee and Advisory Boards allows the opportunity to influence credit union decisions and helps to further skills and professional development.
The Board is the ultimate legal authority within the governance structure of the Credit Union, but it can only act through the majority consensus of its individual Board members, who are charged with making decisions as fiduciaries in the best interests of the Credit Union and its Members.
The Credit Union’s Board members are expected to uphold the highest duty under the law, that of a fiduciary, and to act at all times in the best interests of the Credit Union. Through individual adherence to the role and responsibilities in this Policy, Board members will help to foster a well-governed credit union and a highly effective Board.
Duties & Responsibilities
- Attend Monthly Board Meetings: These required meetings are typically held at 5:00 pm on the fourth Wednesday of every month.
- Ask Good Questions and Participate in Debate: Prepare for meetings and participate in discussions that lead to strategic decisions, bringing your expertise and experience to the discussion.
- Annual Board Compliance Training: Typically consists of various online learning modules, totaling approximately three hours of time.
- Bi-Annual Board Strategic Planning Retreat: Meet offsite for two days to discuss and approve the CU's strategic plan.
- Confidentiality: Maintaining confidentiality is a priority and necessity in guiding the direction of the organization.
Minnesota Credit Union Network Volunteer of the Year Award
2016 - Keith Hauge, Ideal CU
1999 - Jim Bryan, Postal CU
1995 - Jim Pierce, Postal CU
Ideal Credit Union provides the Board of Directors and Supervisory Committee members with the necessary tools to perform their duties. Volunteers are provided a $1,500 stipend to purchase the necessary equipment (laptop, iPad, Microsoft Surface, etc.) that they will utilize to access online board packets. In addition, a monthly reimbursement is available to provide mobile internet access for the previously mentioned device. In addition, because we recognize that there is a considerable time commitment and responsibility, volunteers are compensated $50/hour for their time when attending meetings, conferences and mandatory training.
Education is imperative and highly recommended for the Board of Directors as the regulatory and operational environments become increasingly complex. The Board of Directors and the Supervisory Committee are essential to overseeing the ever-changing Credit Union environment. As Volunteer Leaders, Strategic Decision Makers, and Compliance Officers, the Board and Supervisory Committee members must remain informed and up to date with regulations, statutes, governance expectations, legal precedents, fiduciary obligations and institutional best practices to effectively address the risks and growth objectives of Ideal Credit Union. Continuing education and networking with peers and vendors across the United States are necessary for the Board of Directors to bring new ideas and technologies back to Ideal Credit Union for the benefit of the membership and organization.
To meet these educational responsibilities, members of the Board of Directors and Supervisory Committee are encouraged to attend off-site training. Along with the Board and/or Supervisory Committee member, the Credit Union covers the expenses for a guest or spouse of an official for official travel, which is in compliance with NCUA Rules and Regulations. 12 C.F.R. §701.33(b)(2)(i). As with any business travel the Credit Union pays for travel related expenses within reason including mode of transportation, hotel, meals, parking, taxis, etc.