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Board of Directors

Credit unions are unique financial institutions as they are governed by a volunteer board of directors - nominated from the membership and voted on by the membership.

Organization
The Telhio Board of Directors is made up of elected Directors, all who serve on a volunteer (unpaid) basis for the good of the entire membership. Along with the elected positions, members can also be appointed to committees that work in conjunction with the board. These committees include:
  • Executive Finance
  • Credit Review
  • Human Resources
  • Technology
  • Nominating
  • Corporate Development
  • Supervisory
A Supervisory Committee is required by the Federal Credit Union Act and most state credit union laws. It serves as a kind of watchdog for the members. It is most similar to the audit committee often found in other corporations. This committee is responsible for making sure the credit union's financial records are in the order and that internal controls are in place to protect the assets of the credit union and its members. The committee does this by making sure that an annual audit is conducted and by making sure the internal controls are tested regularly.

Qualified Candidates
  • Must be 21 or older and a member in good standing, have the ability and desire to attend all regular and special meetings of the Board of Directors plus one educational and planning program a year.
  • Have a desire to learn about the credit union, its services, laws and regulations that govern it and the responsibilities of the board members.
  • Have the ability to take and handle criticism for making necessary but perhaps unpopular decisions for the good of the credit union as a whole.
  • Have an open mind, the ability to use sound judgment, a willingness to accept responsibility and the ability to make group decisions with fellow board members.
  • Must be bondable.
  • May not be an officer or employee of any organization that competes directly with the credit union.


Election Process
An election is held of all qualified candidates to fill the vacant seats available. Winners of the election are announced at the annual meeting of the membership. You may vote on-line, via telephone or by mail. Voting instructions are mailed to eligible voting members in January of each year.

Meetings
Regular Board meetings are held each month.  Various Committees hold meetings on an as-needed basis.

Term

Each Board member serves for a term of three years.  Upon expiration of the term, each seat becomes vacant and open for re-election from the membership.

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