Board of Directors Updates
March 20, 2023
Wrapping up the fourth quarter of 2022 and kicking off the new year, your First Credit Union Board of Directors met in November and December 2022 to finalize and approve the upcoming year’s budget and operating plan, and again in February 2023 to review final results and reporting from the previous year. As part of that work, the Board reviewed reports related to the annual member survey, which captures member feedback and measures member satisfaction with First Credit Union’s products and services. In addition, the Board reviewed and discussed the Credit Union’s digital strategy, which focuses on evolving the culture of the organization to meet the changing needs of members and employees, the changing regulatory landscape, and the changing competitive landscape.
Of particular importance to the Board this quarter was the annual call for Director nominations. The call for nominations was active from the beginning of January until February 6, 2023. Although this campaign resulted in positive engagement with members and prospects, there were no new nominations for Director positions this year. The Board is currently operating with nine highly qualified and experienced Directors, with average tenure of just over four years. Part of the mandate of the Nominating & Elections committee of the Board is to actively source and recruit new Directors, specifically seeking individuals from a diverse range of backgrounds, to further enhance the oversight the Board provides. This will continue to be a priority of the committee in the coming year. Members who are interested in a role on the Board of Directors are encouraged to connect with the Chair of the committee for more information.
How to connect with us: board@firstcu.ca
Looking ahead, the Board is looking forward to soon sharing details with the membership regarding the annual general meeting, which will be taking place May 9th. Once again, the meeting will be held virtually, which allows for the greatest degree of flexibility for members from all of our communities to attend.
