1) The president/CEO and members of the management shall not be members of the board of directors.
2) No Supervisory Committee person shall also serve on the board.
3) No former employee shall serve on the board of directors until a period of at least ten years has passed from their last date of employment at MCCU. No Relative** of a former employee shall serve on the board of directors until a period of at least ten years has passed from their Relative’s** last date of employment at MCCU.
a. ** Relative means: Spouse, Child, Step-Child, Foster-Child, Grandparent, Grandchild, Brother, Sister, Half-Brother, Half-Sister, Aunt, Uncle, Niece, Nephew, Parent-In-Law, Brother-In-Law, Sister-In-Law, any other individual related by blood or marriage living in the same household as a Credit Union Employee, director or Committee Member.
5) Former employees whose employment was terminated by MCCU shall not be allowed to serve on the board of directors.
6) Three consecutive unexcused absences from scheduled board meetings can be considered cause for dismissal from the board of directors.
7) The nominating committee has the right to reject any application taking the following items into consideration:
a. Attributes considered for Members Choice Credit Union Board of Directors are as follows:
1. Experience and Expertise: Board members should have a background in finance, business, or a related field to understand the complexities of credit union operations.
2. Understanding of the Credit Union’s Mission: Members should be committed to serving the membership and adhering to the credit union's cooperative principles.
3. Fiduciary Responsibility: Board members must understand their responsibilities regarding financial oversight and ensuring the credit union's assets are managed prudently.
4. Knowledge of Regulatory Requirements**: Familiarity with federal and state regulations that govern credit unions is essential.
5. Strategic Thinking: Board members should be able to engage in strategic planning and help set long-term goals for the credit union.
6. Ability to Communicate Effectively: Board members must be able to articulate ideas and collaborate effectively with other board members and management.
7. Commitment to Education and Training: Continuous education about the changing financial landscape, compliance regulations, and credit union best practices is essential.
8. The applicant has not been convicted of any crime or displayed dishonesty or breach of trust in any way.