Volunteer Opportunities

Join the Board at Central Maine Federal Credit Union!

Volunteer Opportunities:

Board of Directors

The Board of Directors serving a credit union is responsible for providing strategic direction, oversight, and guidance to ensure the financial health, stability, and mission alignment of the organization. Directors work collectively to represent the best interests of the membership, establish policies, and uphold the values of the Credit Union.

Key Responsibilities

• Elect board officers and establish committee members as indicated in the bylaws.

• Oversee financial performance and ensure the Credit Union operates in a safe, sound, and compliant manner.

• Formulate and approve policies, budgets, and business plans, while monitoring progress against established objectives.

• Authorize investments and borrowing.

• Determine bond and insurance needs.

• Respond to audits and regulatory examinations.

• Request approval of charter and nonstandard bylaw amendments.

• Hire, support, and evaluate the Chief Executive Officer/President, and ensure effective succession planning.

• Plan for management succession, which is effectively planning what will happen in the absence of the CEO

• Attend and participate in regular monthly board meetings.

• Maintain confidentiality of sensitive information and avoid conflicts of interest.

• Hold annual meetings to report to the members and maintain minutes.

• Perform other duties as required.

Qualifications

• Central Maine FCU member (required).

• An interest in serving the members of the credit union and a willingness to commit the time necessary to perform board duties.

• The willingness and ability to develop the background required to understand and evaluate critical management and financial issues of the credit union.

• The ability to critically evaluate the policies and operations of the credit union and the impact of these policies and operations on the membership and the future of the organization.

Supervisory Committee

The Supervisory Committee is responsible for a credit union's strict adherence to the law and to the preservation of its financial condition.

 Key Responsibilities

• Charged with the safety and soundness of the credit union's assets by ensuring compliance with the Federal Credit Union (FCU) Act, the FCU Bylaws, NCUA Rules and Regulations, and the credit union's policies.

• Ensures the credit union conducts independent audits and works with the management team in response to any findings.

• Maintains audit guidelines and ensures accurate records.

• Verifies operational integrity.

• Investigates suspicious activities and reports findings to the board.

• Responds to member questions and concerns in relation to its responsibilities.

• Maintains confidential relations with credit union personnel and other board members.

• Attend and participate in regular monthly supervisory meetings.