Board of Directors
The Board of Directors is responsible for directing and controlling the Credit Union. The board directs the credit union in accordance with the federal or state credit union acts, by laws, ethical business practices, and other rules and regulations.
Our Board consists of volunteers, who are members of the Credit Union in good standing and serve a three-year term. Board members are key to the success of our CU and bring a wealth of knowledge, energy, and interest in upholding our mission to deliver excellent service to our members with financial products that meet their diverse needs.
The IFCU will announce annually those members whose terms expire in the coming year. And if there are more candidates than the number of expired terms, an annual Board election will be announced and held. Every member of the Credit Union is eligible to cast a vote for a candidate who is running as a Board member. All members, in good standing and with the appropriate education and experience, are also eligible to serve on the Board and/or as an Associate Board Member (refer to the tabs below for more information becoming a board member).
When there are more candidates for a Board position than there are actual vacant positions, the IFCU will hold a Board of Directors vote. Every member of the Credit Union is eligible to cast a vote for a candidate who is running as a Board member volunteer.
We currently have 9 Volunteer Board Members and up to 3 Volunteer Associate Directors.
Chair – Mark Davis
Vice Chair – Karen Baker
Secretary – Monica Taylor-Lane
Treasurer – Brenda Rodriguez
Members at Large – Shawn Buckner, Chris Colvin, Peter Probst, Gary Weitzner, John Nyce
Associate Directors – Elyas Abi-Antoun, Jacqueline Lynch
- How to Become a Board Member
- How to Become An Associate Board Member
- Member Elections
- Annual Meeting & Report
Volunteering for the Credit Union can be a truly rewarding experience. Vacancies on the Board are open to all members in good standing.
DUTIES AND RESPONSIBILITIES OF THE BOARD OF DIRECTORS
In applying for the position of a Director on the Board of Directors of Interior Federal Credit Union (IFCU), you are committing to serve the Board as a voting member, develop policies, procedures, and regulations for the operation of the IFCU; and to monitor finances of the Credit Union, its products and performance. You agree to fulfill all of the obligations, contained below, and will immediately resign your position should you be unable to fulfill the duties and responsibilities of the position. You need to fully understand your fiduciary responsibility that will be entrusted to you and you will perform the duties to the best of your abilities.
The term of your appointment is normally three years from the annual meeting.
Expected Meeting Attendance:
- Regularly attend meetings as scheduled, at the minimum 12 per year or as deemed necessary.
- Board Meetings are normally in the evenings, the 4th Tuesday of each month, in Arlington, VA
- Participate in committees of the Board as appointed
- Attend Board retreats, workshops, and other training opportunities
- Attend the Credit Union annual meeting and other special events as needed.
- Attend strategic planning sessions as scheduled.
- Establish policy
- Select, appraise (annually), and support the President/CEO
- Monitor finances and assure financial soundness
- Develop, monitor, and update long-range plans
- Assure that products and services meet the needs of the members
- Keep current with all regulations, policies, and trends in order to make sound critical decisions.
- Attend or complete annual training seminars the cost of which (seminar costs) will be reimbursed by the credit union.
- Report immediately to the Chairman any conflicts of interest that would prohibit you from fulfilling all of your duties and responsibilities as a Director.
- Attend meetings
- Be well informed on agenda items and read the Board Packet in advance of meetings
- Listen respectfully to others points of view
- Participate in open exchange of ideas
- Participate in decision making
- Represent the Credit Union to the public and to members
- Educate yourself about the needs of the members served by the Credit Union
- Participate in training events to increase your knowledge to better serve the membership.
1. Candidate must meet the minimum age requirement of 18 years as of the election date and be a member of Interior FCU in good standing, defined as follows:
- $25 minimum balance in savings.
- No delinquent loans.
2. Candidate should be prepared to attend monthly board and periodic committee meetings if elected. Per the Board Standard of Performance, a director may be removed due to lack of attendance and his/her candidacy for a subsequent term may be rejected.
3. Desirable qualifications include actively serving on a standing or special committee of the Credit Union.
4. No nominee for office shall serve in any capacity in the election process. No employee or relative of an employee of our Credit Union shall be allowed to run for any elected office.
5. All officials and employees of other financial institutions will be prohibited from running for elective office of this credit union because of Part II of the NCUA Rules and Regulations, which prohibit “Management Official Interlocks.”
Complete, print and sign the following application. Submit to IFCU by August 31st to be considered by the nominating committee. Any member meeting the eligibility requirements, but not nominated by the committee, may use the petition process.
Qualified members have two ways to apply for a Board vacancy:
- Submit an Online Application to the Nominating Committee by the deadline each year (August 31st).
- Nomination by Petition – If applying after the deadline, any Interior FCU member in good standing who wishes to be placed on the ballot must do so by having a petition signed by 1% of the Credit Union membership (at least 175 members.) A brief biography, a statement of qualifications, and a signed statement pledging the nominee’s willingness to serve if elected must also accompany it. Nominations by petition must be received by 3:00 p.m. on December 3, 2021 and should be addressed to the Chairman of the Nominating Committee and mailed to our mailing address:
ATTN: Chairman of the Nominating Committee
12201 Sunrise Valley Drive, BA208 MS700
Reston, VA 20192-0002
If you have any questions regarding the nominating procedure, contact the current Chairman of the Nominating Committee, who can be reached by calling 202-208-4006.
If you are interested, please review the position description and submit your application.
Associate Director (AD)
Reports to: Chairman of the Board
This position is a developmental position for individuals who are ultimately interested in serving on the Board of Directors for Interior FCU. While this is a non-voting position on the Board, the AD is expected to attend Board meetings, which are on the fourth Tuesday of every month in Rosslyn, VA. The AD will participate in all Board discussions and deliberations and can serve as a voting member on any of the various Board committees, which meet on an ad hoc basis. Due to the nature of this position, there are some limitations. The AD may not serve as a committee chair, nor attend executive sessions of the Board that are primarily held to address personnel and pay issues.
The primary objective of the position is to provide a structure to ensure that potential members of the Board of Directors revive adequate preparation to perform successfully and contribute to the success of the Interior Federal Credit Union.
- A member in good standing at the Credit Union.
- Has the ability and willingness to devote time and talent to preparation and participation in board meetings, committee meetings, special projects, assignments and independent study.
- Has the ability to take and handle criticism for making necessary but unpopular decisions.
- Ability to articulate rationale for offered suggestions in regards to improving the CU.
- Has 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.
- Has a demonstrated desire to learn about the credit union, and its services, laws, and regulations that govern it, and the responsibilities of a Board member.
- Has a combination of work experience, education and demographic representation that is appropriate for the position.
- Has at least a working familiarity with basic finance and accounting practices, including the ability to read and understand the credit union’s balance sheet and income statement and the ability to ask, as appropriate, substantive questions of management and auditors.
- Knowledge of or the ability and willingness to learn about credit union products and services, including, but not limited to: savings products, lending products, information technology and other services offered.
- Knowledge of or the ability and willingness to learn about the credit union system, its structure, common language and acronyms, philosophy and the credit union’s mission statement.
Essential Duties and Responsibilities
1. As a non-voting member, works with the Board and CU executive management team to develop strategies, objectives, and goals for the credit union through:
- Attendance and active participation in strategic planning sessions.
- Attendance and active participation in all meetings of the board of directors, generally monthly, with the exception of the board executive sessions.
- Active participation in assigned Board committees.
- Attendance at the annual meeting.
- Confidentiality — The AD must hold in confidence all transactions of this credit union with its members and all information respecting their personal affairs, except when permitted by state or federal law.
2. Maintains literacy and remains current regarding the CU’s finances to ensure its sound financial condition. Knowledge is gained with understanding how the Board:
- Designates depositories, authorizes borrowing and investing, and provides for bonding and other security factors, including internal control procedures.
- Approves interest rates, dividends, and refunds, or approves policies to guide management in doing so.
- Approves loan limits and savings minimums.
- Approves the credit union budget.
- Declares dividend rates, based on recommendations of the ALCO committee.
- Determines the rates, maturities, security, terms, and conditions for all loans granted by the credit union.
- Determines policies relating to the granting and appropriate collection of loans and authorizes the charge-off of uncollectible loans.
- Authorizes all appropriate borrowing for the credit union.
- Authorizes the appropriate deposit and investment of funds of the credit union.
- Determines the surety bond needs of the credit union at least annually and ensure that appropriate persons are bonded in accordance with applicable laws and regulations.
- Acts on loans to Directors, Supervisory Committee members and Credit Union executive staff.
3. Gains, and retains, an understanding regarding applicable policies of the CU’s operations and by-laws in order to participate on the Board to review the following:
- Policies and bylaws and update as necessary.
- Amendment of the credit union bylaws as appropriate.
- Filling of vacancies (unexpired terms) of the Board of Directors and its various committees as needed.
- All business affairs and affairs of members in a confidential manner and refrain from any relationship that would create conflict of interest with regard to the credit union.
4. Learn more about the credit union system, its services, and about the individual responsibilities of a board member by:
- Meeting the minimum training requirements.
For the 2021 election for Interior FCU’s Board of Directors, there are 3 seats up for election.
More information in the next quarterly newsletter coming out in January.
2021 BOD Nominees
- Chris Colvin
- Mark Davis
- Monica Taylor Lane
Chris Colvin (incumbent)
Chris Colvin is an Outdoor Recreation Planner with the US Forest Service. Prior to that he was a Legislative Affairs Specialist with the National Park Service at the Main Interior Building and Management Analyst in the National Park Service Northeast Regional Office providing oversight on collection and expenditure of over $10 million in fee revenue per year. Chris has a B.A. in Integrative Biology from UC Berkeley and a Master’s degree in Environmental Management from Yale University, focusing on law and policy. He has worked as a seasonal biologist and as an Operations Manager for a research collaboration based at Stanford University, managing communications, hiring, grant proposals, and financial reporting for an annual budget over $4 million.
Chris is currently chair of the racial equity committee and a member of the marketing and strategic planning committees. The Interior FCU is facing important opportunities for growth. To continue improvement of rates and services, we need to increase and diversify our membership. As a relatively new member and a young person with quantitative analysis skills, Chris will continue to help evaluate opportunities to provide services that will attract new members, as well as develop strategies for engaging with potential new members.
Chris will focus on enhancing rates and services for all members and recruiting new members to build the next generation of credit union members and advocates, so that the Interior FCU can continue to improve its services for members. Chris is a strong believer in and advocate for equity, powered by cooperative businesses and credit unions. Banking and financial services are critically important and should primarily benefit people and communities—and profits should be shared by member/owners.
Mark H. Davis (incumbent)
Mark H. Davis has been a member of the Interior Federal Credit Union for almost 20 years and has served on the Board of Directors since 2012. While on the Board, he has served as Secretary, Vice Chair, and is now the Chair. His goal for the Credit Union is to provide slow but steady growth, backed by sound leadership and oversight to provide first class service to its members, with an emphasis on Department of the Interior employees. Mark retired from the federal government in January of 2018, having served his last 10 years as a member of the Senior Executive Service.
Mark worked in the Federal budget community for over 20 years at the Bureau of Land Management, the USDA Forest Service, Senate Appropriations, the Department of the Interior, the Office of the Special Trustee for American Indians, and the Office of the Chief Information Officer.
Mark has a B.S. and a M.S from the University of Wisconsin, Stevens Point. Mark has been civically active throughout his entire life, which have included communities in Wisconsin, Nevada, California, Mississippi, and the greater metropolitan DC area. Some of these included serving on the Board of Directors for his Homeowners Association, an Anti-Gang Task Force in Southern California, and the Board of Trustees for the Battle Mountain, Nevada General Hospital. Mark enjoys traveling, skiing, biking, and stand-up paddle boarding. Mark and his wife, Rita, have 2 adult children and two grandsons, ages 14 months and 3 years!
Monica Taylor Lane (incumbent)
As a long-standing Interior employee, who has dedicated more than 35 years to the Department, Monica Taylor Lane is currently a Staff Accountant with the Office of Financial Management (PFM) in the Office of the Secretary (OS). In PFM, Monica serves as a financial management policy expert, writing departmental policy for the 10 Interior Bureaus and the Interior Business Center (IBC). Having worked in the various divisions of PFM, which include the Systems, Financial Reporting, and Internal Control and Audit Follow-up Divisions, she clearly demonstrates a wide range of knowledge, skills, and acumen in financial operations. Early in her career, Monica worked as an Operating Accountant for OS and later as a Systems Accountant for the former Washington Administrative Service Center (now known as the IBC). She is a member of the Association for Government Accountants and is a Certified Government Financial Manager. Monica earned a B.S. Degree in Accounting from Johnson C. Smith University (summa cum laude), M.S. Degree in Management Information Systems from the University of Maryland University College and is a member of the Alpha Kappa Alpha Sorority, Inc. Today, Monica currently serves as a Board member for the Interior Federal Credit Union; Chairperson of the Interior Loan Review Committee; and is a member of the Interior Federal Credit Union’s Strategic Planning & Policy Oversight Committee; Technology Committee; Loan Policy Committee; Racial Equity Committee; and the Merger/Acquisition Committee. In her leisure time, Monica enjoys reading, jogging, outdoor activities, and traveling with her daughter Montaigne and husband Henry.
Our 85th Annual Meeting will be held virtually on Wednesday, March 17, 2021 at 2:00 EST