Board of Directors

Overview - Board of Directors

Prospera Credit Union is governed by a nine-person Board of Directors representing more than 60,000 members. One third of the Board is elected every spring.

The Directors are a key link between members and the rest of the organization. Collectively, they represent and are accountable to the membership to ensure that financial objectives and service levels are met. As a Board, they set Prospera’s vision and policies, oversee prudent financial management, hire and guide the President and CEO, and help establish and evaluate strategic objectives.

The Board as a Team

The Board is mandated to provide for its own succession and welcomes interest from qualified individuals interested in joining the team. Potential candidates would:

  • Be a Prospera member in good standing for a minimum of one year prior to the ‘Call for Nominations’
  • Exhibit objectivity and be capable of serving as a representative of the membership
  • Be able to develop a good working relationship with other Board members and contribute to the Board’s working relationship with senior management
  • Have sufficient time to discharge Board duties
  • Possess the personal qualities to be able to make a substantial active contribution to Board deliberations
  • Be self-assured with high ethical standards, inter-personal and communication skills and have the willingness to ask difficult questions

Position Expectations

  • Attend quarterly Board meetings (March, June, September, December) on the last Wednesday of the month (scheduled during normal business hours)
  • Attend approximately 10 Committee meetings per year (scheduled during normal business hours)
  • Participate in the Credit Union Director Achievement (CUDA) program (seven modules to be completed in first year)
  • Attend two three-day Strategic Planning sessions annually
  • Attend the Annual General Meeting of the membership, held in April or May
  • Attend a one-day Directors’ Orientation session at the corporate office (first year only)
  • Attend various other conferences for educational and/or networking purposes
  • Commit to spending an average of 30 hours per month (not including travel) in preparation for, and attendance at Board and Committee meetings

 

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