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Personal | Business
Our members help us run a successful business
Every member is also an owner at the Virginia Credit Union – and that means you have an important opportunity to serve as a volunteer. If you are interested in volunteering, we ask that you commit to participation in regular meetings and training opportunities.
Directors are elected to represent the membership for a four-year term. The Board of Directors employs and works with our president to develop VACU’s strategic direction. Directors have a fiduciary responsibility to members for the overall performance of our credit union. Directors, who are recommended by the board, are elected by the membership at an annual meeting. All VACU members are informed on the annual slate of nominees. To allow for advance notice to members about the nominees and proper vetting of candidates’ applications, no nominations are accepted at the annual membership meeting.
Associate Board Director
Associate directors participate in board activities but don’t vote. Associates can learn about VACU by participating with the board, which selects up to two associate positions. Appointees can serve up to two years, subject to reappointment at the end of the first year.
Supervisory Committee Member
The Supervisory Committee oversees our internal control environment, which supports financial and operational reporting. The committee oversees and reviews the activities of the internal audit department. The Supervisory Committee also engages an independent audit firm and reports to the members at the annual meeting. The committee’s five members are appointed by the Board of Directors for three-year terms.
Asset Liability Committee (ALCO) Member At Large
The ALCO has responsibility to the board for continuing oversight of asset/liability management. The committee must maintain a meaningful balance between member needs and sound financial management. Membership includes board members, senior staff and one member at large appointed by the board chairman.
Advisory Council Member
Advisory Councils are established by VACU staff to help us reach particular communities served by VACU branches. Council members serve as ambassadors and advocates for our credit union in areas where they live and work. They also serve as voices for their communities by suggesting ways in which we can improve services for them. VACU currently has three Advisory Councils – Fredericksburg, Charlottesville, and Farmville. Each council has members appointed for two-year terms.
The board appoints a Nominating Committee to recommend qualified candidates for expiring terms of Board of Directors and Supervisory Committee members. The Nominating Committee’s review includes incumbents, other volunteers and members at large who have submitted an application for a volunteer position. Volunteer roles are unpaid.
Inquiries about and applications for volunteer service can be made at any time. However, the application deadline is September 30 for applicants who wish to be considered for nomination to the Board of Directors at the following year's annual meeting. For inquiries and applications send an email to Viki Frankenburger, Executive Assistant, or call (804) 560-5673 or (800) 285-5051, ext. 5673.