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First Credit Union
 

Join our board and be a force for good!

 
 

We are invested in increasing the positive impact we have on people, our planet, and the prosperity of our communities. Our Board is looking for passionate and community-minded members to join us in achieving that vision by serving as a Director.

The Board of Directors provides critical guidance and oversight by determining strategic direction, setting policies, representing members' interests and working with management to maximize the Credit Union's impact.

The Board is seeking nominations from qualified candidates who can demonstrate a willingness to learn, who possess basic financial literacy and computer skills, who reflect the diversity of the communities we serve, and who embrace the co-operative model upon which our organization is based. In 2024 six positions are up for election.


Top 5 reasons to consider serving as a Director on your credit union Board:

  1. Be a part of leading an organization that wants to use business as a force for good. First Credit Union is a certified B Corporation.
  2. Be a member of a team of like-minded and passionate leaders that care about their communities and believe in the cooperative business model.
  3. Access opportunities for personal and professional growth, including fully sponsored educational programs and training.
  4. Take advantage of paid travel either regionally or nationally, and earn opportunities for international travel after serving one term.
  5. Our Board needs your unique perspectives, diverse knowledge, and professional or personal experience to add to the depth of our team!


Election process

  1. Express your interest (Get started early)
  2. Call for Nominations (Open Jaunary 3rd, 2024)
  3. Candidate list confirmed (February)
  4. Election (April)
  5. Annual General Meeting: announcement of election results (May)
 

Nominations are now closed. Thank you for expressing your interest, please check back during our 2025 nominating period.


 
 
 

In order to be eligible to stand for election a person must:

  • have been a member in good standing of the Credit Union, for at least one year prior to January 1 of the year in which the election will be held
  • be at least 19 years of age
  • qualify subject to the rules of First Credit Union and related Acts

Note: For the purposes of being eligible to vote in the election, a person must be a member in good standing, other than a junior member, on the day which is 90 days prior to the commencement of voting.

A member in good standing is a member who at the date on which good standing is determined has purchased, paid for, and holds a minimum of 25 Class "A" Membership Equity Shares and is not more than 90 days delinquent in any obligation to the Credit Union.

FAQs

Q: Who is eligible to serve as a Director?

A:
In order to serve as a Directors, candidates must be at least 19 years of age, and must have been a member of the Credit Union for at least a year. (If you’re not currently a member, we would still invite a conversation with you about this—perhaps this is an opportunity we could take advantage of at a future time?)


Q: Who is currently on the Board?

A: A diverse mix of board members from many different communities.

Q: How do I become a Director?


A:
New Directors are either appointed by the rest of the Board (if there is a current vacancy on the Board) or they are elected. If the number of seats available on the Board is equal to the number of candidates seeking election, then these candidates can be elected by acclamation (no member vote occurs.) If there are more candidates than available positions on the Board, then the membership is called upon to vote on which candidates should be elected to the Board.

Q: How long is a term on the Board?

A:
Typically a Director is elected for a three year term
 

Q: Do Directors have to live in a certain community?

A
: Directors are recruited from all of the areas that First Credit Union serves. In-person meetings are held quarterly, alternating between Powell River and the Comox Valley.


Q: How are Directors compensated for their role on the Board?

A:
Directors are compensated with a monthly stipend for their role with First Credit Union, and all travel and other expenses related to their role are covered by the Credit Union (which includes expenses related to training, regional, national or international conference or meeting attendance, etc.) Directors also receive a generous personal development budget for each term they serve.


Q: What is the time commitment for a Director?

A: Meetings of the Board of Directors take place quarterly, both virtually and in-person. The time commitment for meeting attendance is approximately 8 hours each quarter. In addition, Directors need to dedicate time to meeting preparation (review materials, email communications, etc.) as well as their own development. This time commitment will vary depending on the individual.


Q: Where can I get more information about becoming a Director?

A:
You can email a member of our governance team at executive.admin@firstcu.ca