Nomination Pack for Volunteers
Dear Prospective Board Candidate/Committee Member
This pack contains the Application Form, provides information about the nomination process, board candidate eligibility and qualification criteria, and general information about Thomastown Credit Union Limited.
To assist those who are interested in considering candidacy, the Board appoints a Nomination Committee each year. The Committee’s role is to ensure the members are fully informed of the elections, to recruit qualified candidates and to bring forward a sufficient number of candidates to ensure that an election takes place.
Chair, Nomination Committee
Notice of Nomination Period:
Pursuant to the rules of Thomastown Credit Union Limited (“the Credit Union”), notice is hereby given that submissions for nominations for the position of Director of the Credit Union are being accepted, subject to the following:
There are potential vacancies on the Board of Directors to be filled. The successful candidates will be elected for a 3 year term.
The Nomination Pack may be obtained from Thomastown Credit Union, Market Street, Thomastown, Co. Kilkenny during this time period.
Nomination Forms and all required documents should be submitted by personal delivery to the Credit Union, or sent by either prepaid ordinary mail or registered mail and addressed to:
Chair of Nomination Committee
Thomastown Credit Union Limited, Market Street, Thomastown, Co. Kilkenny
In the event of an interruption of mail service, Nomination Forms and all required attachments must be submitted by personal delivery only.
Below is an estimate of the amount of time necessary to fulfil your role as a Director/Committee Member. Each Director/Committee Member is expected to prepare for and attend board/committee meetings and to sit on at least one committee.
|ITEM||Minimum Estimated Time|
|Board Meeting||There are 12 Board Meetings each year. They can last between 2 – 3 hours. They usually take place on a Monday evening and start at 7pm.|
Directors are required to attend every meeting unless they are unable due to circumstances beyond their control.
|Read Board Pack||Approx. 1.5 / 2 hours per meeting|
|Committee Meetings||Committee meeting can be held either during the day or in the evening and last approximately 1 hour.|
Committee Members are required to attend every meeting unless they are unable due to circumstances beyond their control.
|Training & Development||Directors are required by legislation and regulation to attend training sessions; this may involve evening and/or weekends. All directors expenses are compensated by the credit union.|
Candidate Information Session
Candidates will meet with the Nomination Committee prior to the election to review the requirements of the position of Director for the credit union, the time commitment and the election process. At this session, the candidates will have the opportunity to ask questions.
Voting in elections to fill vacancies of Members of the Board, whose term of office has expired, will be conducted by secret ballot at the Annual General Meeting of the Credit Union.
Subject to the Credit Union Act, 1997 – 2012, a member elected as a director shall take office at the close of the annual general meeting at which he or she is elected.
Eligibility of a Director
Thomastown Credit Union Limited is governed by the Credit Union Act, 1997 – 2012. This legislation sets out a series of eligibility criteria that all Directors must meet.
- If a person is not a member of the credit union. Any non-member being sought as a director would need to join the Credit Union first before being proposed.
- Be over 18.
- Have sufficient time to devote to the role.
- Be a fit and proper person to carry out the role of director in line with fitness & probity requirements of the Central Bank reform Act 2010.
- A person cannot have served as a director or on the Board Oversight Committee for more than 12 years out of the last 15.
- A person cannot be a Director, voluntary assistant or employee of another Credit Union.
- A person cannot be an employee or a member of the BOC of the Credit Union.
- A person cannot be an employee of a Representative Body, Department of Finance, Central Bank, FSO, or IFSAT.
- A person cannot be a member of the Central Bank Commission or chief executive of the National Consumer Agency.
- A person seeking to be a director cannot be the auditor of the Credit Union or employed by the auditor.
- A person cannot have acted as a solicitor of professional adviser within the last 3 years.
- A person cannot be a director whose spouse, civil partner, sibling, parent or child is already a director, Board Oversight Committee member or employee of that Credit Union.
A person seeking to be a director cannot be or have been adjudicated bankrupt, or convicted of an offence in relation to a credit union or any offence involving fraud or dishonesty.
The Board of Directors is accountable to the general membership of the credit union for the general control, direction and management of the credit union.
Objectives and policies that provide for the needs of members and safeguard the assets of the credit union will be established.
Authority and Duties
The board of directors is responsible for the strategic direction of the credit union. It will perform general duties to ensure that a viable direction is planned and will adhere to the specific duties and responsibilities for the board and board committees as set out in:
- The Credit Union Acts, 1997 -2012
- regulations to the Act;
- directives of the Department of Finance
- the credit union’s registered rules;
- The policy manual of the credit union.
The board will be responsible for the following general duties:
- Setting, monitoring and reviewing the credit union’s overall business strategy, objectives, and policies that provide for the needs of members, safeguard the assets of the credit union and meet regulatory requirements.
- Ensuring compliance with all requirements imposed on the credit union by or under the Credit Union acts, 1997 – 2012 or any other financial services legislation.
- Promoting and implementing established governance protocols on an individual and collective basis.
- Directing the democratic process of the credit union, including the election of directors and the matter of board succession.
- Reviewing management succession plans.
- Delegating to committees of the board and receiving reports from those committees.
- Responding, or causing responses to enquiries, requests or demands from regulatory agencies, auditors, members or other stakeholders.
- Ensuring regular and efficient communication with members.
- Ensuring that any major variances to budget are identified and that appropriate corrective measures are implemented.
- Appointing, supervising and defining the duties and responsibilities of the Chief Executive Officer / Manager.
- Reviewing in conjunction with the CEO/Manager human resources practices, policies and reports on the general competence and quality of staff.
- Ensuring in conjunction with the CEO/Manager the recruitment, retention and development of qualified and competent individuals.
- Ensuring that staff and/or volunteers charged with carrying out policy have necessary training and experience.
- Encouraging an effective board/management planning process which will promote the long-term viability of the credit union.
- Read the Nomination Package, in particular the job description, and eligibility criteria for the position of Director.
- Complete the Nomination Form.
- Provide a biography of up to 100 words. This biography will be used, as submitted, as part of the Election package shared with members in advance of the AGM; this biography should identify any qualifications and experience relevant for being a director of the credit union.
- Complete the declaration of conflict of interest.
- Return the completed Nomination Form in a sealed envelope addressed to the:
Chair of Nomination Committee
Thomastown Credit Union Limited
Note: It is the candidate’s responsibility to make sure that the Nomination Forms are completed and all information is legible.