Credit union director

[Anonymous]

How much a compensation possibly can be?

[Anonymous]

As much as you can negotiate. The more complicated the CU, the higher the compensation.

[Anonymous]

Anonymous wrote:As much as you can negotiate. The more complicated the CU, the higher the compensation.

Do you think I can get 200k?

[Anonymous]

Is "director" a Board of Director seat? Or is this a staff position under the CEO?

[Anonymous]

Anonymous wrote:Is "director" a Board of Director seat? Or is this a staff position under the CEO?

Board of directors seat

[Anonymous]

The 990 should be public and should show past board compensation.

[Anonymous]

Anonymous wrote:The 990 should be public and should show past board compensation.

Where do I look for this info? There is nothing on their website. It's a very small CU.

[Anonymous]

http://www.guidestar.org/Home.aspx

[Anonymous]

Anonymous wrote:

Anonymous wrote:As much as you can negotiate. The more complicated the CU, the higher the compensation.

Do you think I can get 200k?

200k for one board seat? That’s ridiculous and not a board acting as fiduciaries.

[Anonymous]

Board members don't get compensated at credit unions. It's in the Federal Credit Union Act (section 12 USC 1760(c)) It states:

(c) Compensation.—No member of the board or of any other committee shall, as such, be compensated, except that reasonable health, accident, similar insurance protection, and the reimbursement of reasonable expenses incurred in the execution of the duties of the position shall not be considered compensation

So, yeah, you're not going to get your $200 k or really, anything for the position.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is "director" a Board of Director seat? Or is this a staff position under the CEO?

Board of directors seat

OP credit union BOD seats don't get compensated. Sorry.

[Anonymous]

pp here again. the fact that you didn't know this makes me wonder how you could be offered the seat. You really should have a basic understanding of how a credit union operates.

[Anonymous]

My guess is that OP is a member of a credit union that sent something out to all its members asking people to run for the board. I have gotten similar letters from several CUs (between mortgage, joint and individual checking accounts, CDs, etc. my DH and I belong to a bunch!). I have never tried to run, but assume there's some sort of nominating committee that vets people and puts together a slate.

[Anonymous]

Anonymous wrote:My guess is that OP is a member of a credit union that sent something out to all its members asking people to run for the board. I have gotten similar letters from several CUs (between mortgage, joint and individual checking accounts, CDs, etc. my DH and I belong to a bunch!). I have never tried to run, but assume there's some sort of nominating committee that vets people and puts together a slate.

Yes. I already work for the CU and was offered a position.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My guess is that OP is a member of a credit union that sent something out to all its members asking people to run for the board. I have gotten similar letters from several CUs (between mortgage, joint and individual checking accounts, CDs, etc. my DH and I belong to a bunch!). I have never tried to run, but assume there's some sort of nominating committee that vets people and puts together a slate.

Yes. I already work for the CU and was offered a position.

Oh boy. If you already work for the CU, then it's that much worse that you didn't know something that basic. Plus thinking you would get $200k for it? I also don't believe you can be an employee and BOD member at the same time. This can't be a real post.