Carolina Foothills is a not-for-profit financial cooperative, and as such we could not function without the support and economic participation of our member – owners. Our democratic structure dictates that the board of directors and supervisory committee members must be elected from the ranks of the membership. While you don’t have to be a financial expert, some basic business knowledge is required. To find out more and to apply, click the opportunities below.
To determine the strategic direction of the Credit Union and establish policies, approve goals and budgets that will meet the long range objectives of the strategic plan of the Credit Union.
- Works with the Chairman, CEO and other board members to develop strategic direction, long-range plans and goals for the Credit Union.
- Ensures that the Credit Union adheres to pertinent laws and regulations.
- Approves policies and budgets that determine the parameters of management action and decision making. Major areas of policies include investments, lending and personnel.
- Represents the interest of all members.
- Actively promotes the Credit Union in the community
- Ensures that new products and services are developed as needed and members’ satisfaction is maintained.
- Hires the CEO, defines the scope of the CEO’s job, and appraises CEO and organizational performance. Delegates daily operations of the Credit Union and management of its staff to the CEO.
- In accordance with Board guidelines, regularly attends and participates in all Board meetings, planning sessions, appropriate committee meetings and special board sessions. Carries out task as assigned.
- Ensures that ongoing volunteer succession planning occurs.
Board members have the authority to make decision regarding the direction, objectives and policies of the Credit Union as well as the management of the CEO. They need to make sure that the Credit Union adheres to laws and regulations governing Credit Unions. Board Members can and act only as a board, not as individuals.
Volunteer board members offer the Credit Union one of its greatest strengths. Board Members need to have a sound judgement, a willingness to learn and contribute to the group process. They do not need to be experts in financial management to make valuable contributions to the sound development of the Credit Union.
In order for Volunteer Board members to make their greatest contribution, the Credit Union has developed the following list of desired characteristics.
- Mutual Respect and trust of fellow volunteers and staff
- Acceptance of the role of board members
- Commitment to participate, share ideas, be heard and give consideration to ideas of others
- Sharing the common organizational vision
- Maintaining confidentiality
- Following the “chain of command”
- Being the image of a “Team Player” by:
- helping Team Members attain goals
- supporting team members
- accepting the good with the bad
- always displaying a constructive attitude internally and externally
- keeping organizational goals as the top priority, rather than individual goals
Supervisory Committee Member
To ensure ongoing reviews and audits to make sure that credit union records are maintained properly, honestly and accurately; that policies established by law and by the board of directors are carried out faithfully; and that members’ assets are safeguarded and used according to the purposes of the credit union.
- Ensure a complete and thorough audit of the credit union’s records and operations, including a verification of member loan and share accounts, is conducted at least once a year.
- Ensure that all necessary written audits and work papers are submitted to regulatory and insuring agencies in a timely fashion.
- Verify that adequate internal controls are established and effectively maintained to safeguard the credit union’s assets.
- Oversee the inspection of securities, cash, and accounts of the credit union.
- Review credit union operations and monitor overall financial condition on an ongoing basis.
- Review the actions of the board of directors, via monthly board minutes to ensure that they exercise firm control over the credit union’s affairs, they understand their role, and they promote the credit union for its intended purposes.
- Ensure that the credit union is in full compliance with all relevant laws and regulations.
- Review all new policies and changes in credit union procedures in terms of their effects on the quality of service to members and safety of members’ funds.
- Present a full report of the findings of annual audits and any special findings to the board of directors.
- Prepare and make available an annual report to be presented to members at the annual meeting.
- Carry out all other duties as required by law, regulation, or the credit union’s bylaws.
- Engage the services of auditors as needed to perform audits. Direct and oversee all work by auditors.