Board Essentials Module 5: Board Membership Basics

Board Membership Basics

The credit union’s board of directors has ultimate responsibility for the general direction and control of the credit union.  The board is responsible for appointing qualified persons as officers and for evaluating the officers’ management performance.  The credit union’s officers report directly to the board and must be approved annually.  Other major board responsibilities include:

  1. Establishing and approving the credit union’s overall business goals, standards, policies, and procedures
  2. Reviewing and evaluating the credit union’s operating results and performance
  3. Ensuring that the credit union complies with all applicable laws and regulations

Moreover, board members must adhere to high standards of ethics and confidentiality which require them to avoid conflicts of interest and self-serving practices.  This program will explain directors’ compulsory legal responsibilities.

Duration 30-minutes

Presented By

Elizabeth Fast, JD & CPAElizabeth Fast
Spencer Fane LLP

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