Board of Directors
Vantage West’s Board of Directors consists of seven Directors who serve three-year terms. When these terms expire, the Board holds an election for those seats, whereby Directors are elected by and from the membership.
The Board plays a crucial role in assuring Vantage West’s longevity. Directors should have professional experience and be able to contribute leadership, knowledge, and ideas with a passion to see that the credit union operates in the best interest of its members. Directors possess integrity, the ability to speak frankly, make sound judgments, and participate with fellow Directors and credit union executives. They must commit time, including (but not limited to) attending monthly meetings, annual planning sessions, training courses or conferences (sometimes requiring travel), and networking events. Board members must also become CUNA certified or equivalent at the basic level within designated time frames.
2018 Board of Directors Election
Two director seats are up for regular election for new, three-year terms at the 2018 Annual Membership Meeting.
The Nominating Committee has announced their nominees:
Ana Archer, Incumbent
Dr. Paul Melendez, Incumbent
There were no nominations by petition and there is only one nominee for each vacancy so there will be no written ballot vote and no call for nominations from the floor for these seats. The nominees will win the seats by acclamation for new, three-year terms.
Also, one board seat was vacated after the Nominating Committee’s call for nominations, leaving insufficient time to secure a nominee for the seat. In order to carry out an election for this seat, a call will be made for nominations from the floor during the Annual Meeting.
Learn more here about Vantage West’s elections, the call for nominations from the floor, who can nominate and be nominated, who can vote, and more. This FAQ is provided to help members understand how they can participate in the election process and the Annual Membership Meeting.
2018 Annual Membership Meeting
All members are invited to attend on August 6, 2018 at 6:00 PM.
DoubleTree Hotel at Reid Park
445 N Alvernon Way
Tucson, AZ 85711
Fun prizes. Hors D’oeuvres will be served.
Current Board Members
Vantage West also offers an Associate Director Program to ensure leadership continuity. Our Board of Directors appoints Associate Directors, who are expected to commit their time to train, serve and contribute, much like Directors, except they do not vote. Associate Directors must become CUNA certified or equivalent at the basic level within designated time frames. Associate Directors report to the full Board of Directors, and will be mentored by an assigned Director, with the goal of experiencing what a Director’s position entails before deciding to run for a Director’s seat at an Annual Election, or being considered for appointment to a vacant Board seat, should a mid-term vacancy occur. There is no guarantee that an Associate Director will later become a Director, but the program does offer significant experience and training opportunities.
Five voting members and two alternate members comprise Vantage West’s Supervisory Committee. The group is appointed by the Board and functions independently to safeguard the assets of Vantage West and its members. The Supervisory Committee also performs audits of our financial statements each year to ensure accurate record keeping. Members of the Supervisory Committee possess integrity as well as the ability to speak frankly and make sound judgments. They should also be able to dedicate time for meetings, training events, and conferences (sometimes involving travel).
Applications from members interested in a 2018 appointment to the Supervisory Committee are also being accepted.
Current Supervisory Committee Members
Board and Supervisory Committee Requirements
Upon applying and/or election or appointment to a volunteer position, certain documentation must be reviewed and signed. Below are copies of these forms.
The job of the Board of Directors is as follows:
- Reporting Responsibilities.
The Board of Directors reports to the general membership of the credit union. The Board supervises the CEO.
- Primary Duties & Responsibilities.
Direct and control the credit union. This includes guiding the organization to fulfill its purpose; setting the plans and governance policies which guide the affairs of the credit union; and ensuring that those plans and policies are properly implemented by following the credit union charter, bylaws, all applicable federal and state laws, sound business practices, and the membership’s desires.
- Specific Duties & Responsibilities.
- Attend all regular and special meetings of the Board of Directors at least monthly.
- Approves policies that dictates, determines and declares dividend rates, terms, maximum share limits, and classes of shares.
- Approves the policy that dictates, determines the rates, maturities, security, terms, conditions, and interest refunds for all loans granted by the credit union.
- Approves the policy that determines the granting and appropriate collection of loans and authorizes the charge-off of uncollectible loans.
- Authorizes all appropriate borrowing on behalf of the credit union.
- Authorizes the appropriate deposit and investment of funds of the credit union.
- Amends the credit union bylaws and Governance Handbook, subject to the regulatory agency, as appropriate.
- Hires, fixes duties and compensation, and evaluates performance of the CEO. Sets the governance and policy parameters for other CEO actions.
- Appoints an Executive Committee of no fewer than three Directors to act with respect to specifically delegated functions authorized by regulations and the Board.
- Appoints the credit union’s Supervisory Committee which is responsible for making, or causing to be made, all appropriate audits and checks, and ensures proper functioning of the credit union.
- Appoints an ALM Committee that is responsible for the active management of our credit union’s assets (primarily loans and investments) and liabilities (includes member deposits) to ensure that they produce the planned level of net interest margin over all economic cycles. The primary operating objective for ALM is to maximize both profitability and net worth, and always have enough liquidity to meet current needs, without exposing the bottom line to the risk of substantial losses.
- Approves the policy that designates a Membership Officer, a Security Officer, and other committees as necessary.
- Approve the surety bond needs of the credit union at least annually and ensures that appropriate persons are bonded in accordance with applicable laws and regulations.
- Approve the policy regarding how membership applications, security needs and records retention are handled.
- Maintains all business affairs and affairs of its members in a confidential manner and refrains from any relationship which would create conflict of interest with regard to the credit union.
- Outside of prescribed policy and legal limits, acts on loans to Directors and all Volunteer Committee members.
- Fills vacancies on the Board and Volunteer Committees and appoints alternates to act in the absence of a regular member of those committees.
- Acts as a positive ambassador for the credit union and its services.
- Holds or causes to be held an Annual Meeting of the membership and presents a report of the Board of Directors’ activities.
- Evaluates and approves the Credit Union’s salary structure and annual adjustment mechanism upon recommendation of the President/CEO. Operational bonus will be at the discretion and approval of the Board of Directors, based on the credit union’s performance.
- Comply with NCUA fiduciary rule §701.4 Financial Literacy requirement which relates to being able to read and understand the credit union’s balance sheet and income statement.
- Complete all mentor-assigned training and become CUNA certified or equivalent at the basic level within 24 months after being appointed. The cost of education programs will be borne by VWESTCU.
- BASIC QUALIFICATION REQUIREMENTS
- Be a member in good standing of a credit union, or financial institution and the community. Once appointed must be a VWESTCU member.
- Have the ability to take and handle criticism for making necessary but unpopular decisions.
- Have an open mind, the ability to use sound judgment, a willingness to accept responsibility, and the ability to make group decisions with fellow Board members.
- Have the ability and desire to attend all regular and special meetings of the Board of Directors and at least one educational and planning program per year.
- Have a demonstrated desire to learn about the credit union, the services, laws, and regulations that govern it, and the responsibilities of a Board member.
- Directors are expected to utilize this Credit Union as their primary financial institution.
I, the undersigned, fully understand and do hereby agree that if elected or appointed to a volunteer position, I will conform to and abide by the following:
- I am a current Vantage West member, or will become one before elected or appointed.
- I will always perform in a fiduciary manner and utilize the credit union’s products and services.
- I will attend all regular and special meetings required of my position, unless prevented by circumstances beyond my control (in which case I will notify the Chair of the Board/Supervisory Committee in advance).
- I will attend the credit union’s Annual Membership Meeting and, if required, any strategic planning retreats/events.
- I will participate to the best of my ability in the determination of the organization’s direction, governing policies and other matters pertinent to my position, give full attention to meeting the needs of the credit union, and (if/as applicable to my position) vote on all issues submitted or proposed for action.
- I will consider the business of the credit union and its members to be properly confidential in nature and not betray the trust placed upon me by indiscriminate talk or conversation that might prove harmful in nature to the credit union or its members.
- I will give all assistance possible to my fellow volunteer members, appointed officers, and the CEO of the credit union in the discharge of the duties of their offices.
- I will place the welfare of the credit union as a matter of first importance. I will disclose any conflict of interest to the Chair (of the Board/Supervisory Committee) and refrain from voting on issues related to such conflict.
- I will continually seek to learn more about the credit union organization and its services, as well as my individual responsibilities as a volunteer member, by attending the required training each year, in addition to all meetings/events named in item 3.
- I will authorize background checks, including an investigation of my credit history, and will present financial disclosures if/as required (see additional description of these items on the following page).
SAMPLE FORM. DO NOT SIGN
As a Volunteer, I have read and understand that I will abide by the following:
ATTENDANCE OF MEETINGS:
Credit Union Bylaws, Article VII, Section 7.11:
“If a director fails to attend regular meetings of the Board for three consecutive meetings, or four meetings within the previous twelve months, or otherwise fails to perform any of the duties devolving upon the position as a director, that office shall be declared vacant by the Board and the vacancy filled as provided in these bylaws, unless excused for cause by the Board.”
AVOIDANCE OF CONFLICT OF INTEREST:
Each volunteer will avoid any conflict of interest that could affect or be perceived to affect his/her loyalty to the membership or credit union. Each volunteer will bring any potential conflict of interest to the attention of the Chairman of the Board who will present it to the attention of the Board. If the potential conflict of interest cannot be managed to the Chair’s or Board’s full satisfaction, the volunteer agrees to step down.
SAMPLE. DO NOT SIGN.
Updated: August 3, 2017
Training Requirements for Volunteer Members – Full Official Policy
- Comply with NCUA fiduciary rule §701.4 Financial Literacy requirement which relates to being able to read and understand the Credit Union’s (CU) balance sheet and income statement. Note: For newly appointed elected volunteers (Directors/Supervisory Committee) this is priority #1 and must be completed within the first six (6) months.
- Complete all mentor-assigned training and become CUNA (Credit Union National Association) certified at the basic level within 24 months after being appointed.
- Complete Vantage West Online Training courses as assigned which is designed to meet NCUA’s compliance requirements for Financial Literacy.
Recommended Training Sources for Item #1:
- CUES (Credit Union Executive Society) online Directors Education Center
- CUNA’s online training or CUNA’s 3 day “CUNA Finance for Non-Financial Managers & Volunteers” training course.
- CU Conferences: Some CU conferences throughout the year will have opportunities to attend specific training classes to fulfill the Financial Literacy requirement prior to the beginning of that conference.
Recommended Training Sources for item #2:
CUNA’s Website for online education and training. For CUNA’s Basic Board Certification, the following online courses must be completed:
Prerequisites to any certification/award pin-
- V01 (History & Philosophy for Volunteers)
- V02 (Financials Reports for Volunteers)
- V03 (Managing Risk for Volunteers)
Credit Union Fundamentals-
Board of Directors
- V100 (BOD Duties & Responsibilities)
- V101 (Board Policies)
- V102 (Planning)
Supervisory Committee Members
- V300 (Supervisory Committee Duties & Responsibilities)
- V301 (Auditing 1)
- V302 (Auditing 2)
Over the past year, our Board of Directors, executive leadership and members have discussed the issue of compensation for our officials (Board and Supervisory Committee members). In June of 2017, our members voted to ratify a proposed bylaw amendment which allows compensation for credit union officials. Read the statement from President/CEO Robert D. Ramirez, learn more about compensation for Vantage West officials.