The Board of Directors plays a crucial role in establishing the overarching direction of the credit union. This rarely requires direct involvement in the day-to-day operations since that job falls to the President/CEO that the board hires. The credit union staff implements the policies that their board sets. The primary responsibility of the Board of Directors lies in charting the strategic path.
In essence, the board is tasked with steering and overseeing the credit union, ensuring it operates in a financially sound and judicious manner, with decisions consistently aligned with the best interests of the members. The Credit Union Board of Director’s Handbook includes a sample position description outlining the director’s responsibilities in the following manner: contains a sample position description for the board of directors that breaks the director’s job down as follows: