News & Events
Interior FCU is seeking candidates for the Board of Directors
The Board of Directors are seeking for their Board of Directors. If you are interested, please review the position description and submit your application by August 31, 2018.
Reports to: Chairman of the Board
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.
- 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.
- 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.
- Desirable qualifications include actively serving on a standing or special committee of the Credit Union.
- 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.
- 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.”
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.
Interior FCU is looking to Mentor and Develop Future Directors of the Board
The Board of Directors are seeking up to 3 Associate Directors. 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
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.
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.
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.
Learn more about the credit union system, its services, and about the individual responsibilities of a board member by:
Meeting the minimum training requirements.
2018 Annual Meeting
Interior FCU will be holding its 82nd Annual Meeting on Thursday, April 5th.
U.S. Geological Survey
12201 Sunrise Valley Drive, Reston, VA
Pictures from the 2018 Annual Meeting held in Reston, VA
Main Interior Building
1849 C Street, NW, Washington, DC
Rachel Carson Room
Pictures from the 2018 Annual Meeting held in Washington, DC
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Credit Union College Scholarship 2018
The $12,000 Credit Union College Scholarship Program is underway now! If you are a college-bound member, you are eligible to apply for one of ten $1,000 essay-based scholarships, one $1,000 video-based scholarship, and/or one $1,000 photo-based scholarship. Yes, you can apply in all three categories. Learn more.
Deadline for applications is March 31, 2018. Awards will be made in May 2018. Visit application site.
Here’s what’s happening at Interior FCU! Check back often to stay up to date.
2018 Credit Union Cherry Blossom Race