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Membership - Team Members

Board of Directors* Overview

Overview

Credit Unions are not-for-profit financial institutions owned and operated by and for their members. Since 1953, MWRDECU has helped thousands of District employees and retirees by providing a safe place to save and borrow at competitive rates. The credit union also provides other valuable financial tools and education. Credit Unions are governed by a volunteer board of directors. Our board consists of District employees and retirees.

Purpose of the Board

The ultimate responsibility for the credit union rests with the board of directors. The board's purpose is to serve and promote the best interests of the credit union and its membership. The board's duties are to set policy and provide governance, rather than day-to-day management.

General Responsibilities

Directors must always exercise independent judgment in fulfilling the obligations of the position. A director must demonstrate their fiduciary responsibilities, become familiar with the credit union's business and be able to make an independent evaluation of the management of the credit union. These broad responsibilities also include reviewing senior management's performance as well to support, challenge or reward management as may be deemed.

General oversight includes responsibility for:
  • Approving operating and financial plans, developing strategic plans and evaluating the performance of the credit union relative to those plans
  • Establishing credit and lending policies that protect the assets of the credit union
  • Designing and regularly evaluating performance of its senior management, the compensation of senior executives, and the design of succession plans for senior management
  • Adopting policies of credit union conduct, including compliance with the myriad of laws and regulations that govern operations and implementing and maintaining effective accounting, financial and operational risk controls
  • Designing the standards and processes for information dissemination that support the overall effectiveness of the board

Expectations

  • Carry out duties in good faith
  • Attend and participate in meetings and planning sessions
  • Understand the credit union industry
  • Complete all required training and pursue other training specific to Board duties as needed
  • Maintain confidentiality
  • Act as an ambassador for the credit union, promoting its value within the District

Qualifications

Members must qualify to serve on the Board of Directors, which includes:
  • Being an active member of the credit union
  • Bondability by the credit union's surety bond provider
  • Having or acquiring a working familiarity with basic finance and accounting practices
  • Ability to fulfill the duties of the position

Learn More

If you are interested in serving on the Board of Directors or would like more information, please contact Linda Geers, President/CEO at 312-751-3111 or memberservices@mwrdecu.com.

Would You Like to Volunteer?

If you would like to be considered as a candidate for the Board of Directors, please download, complete and return our Volunteer Application to the Credit Union office or to any member of the Credit Union's current Board of Directors.

Our Credit Review Committee also offers volunteer opportunities.

*Associate Board Members maintain the same responsibilities, expectations and qualifications as regular board members, though these positions are non-voting. The purpose of this position is to provide hands on training and ease the transition from associate to board member when an opening becomes available. This is especially important if the board introduces any kind of term limits – to ensure successors are readily available. Even if no term limits exist, it can benefit the board to have associates ready to step in when a long-term member leaves his/her position. If you would like to be considered as an Associate Board Member candidate, please download, complete and return our Volunteer Application to the Credit Union office or to any member of the Credit Union's Board of Directors.