The Nominating Committee is comprised of an independent committee of holders of stock specifically tasked with reviewing and nominating candidates for positions on the Board of Directors and the Nominating Committee. Committee membership is open to any holder of Association voting stock in good standing.
Nominating Committee Role
The Nominating Committee is responsible for evaluating and nominating qualified individuals to serve on the Board of Directors and on the Nominating Committee. The general Nominating Committee member responsibilities are:
- Identifying, from the current list of stockholders, individuals who are eligible, qualified, and willing to serve as directors
- Evaluating the qualifications of potential nominees, keeping in mind the desired director qualifications
- Considering whether any obstacles exist that would prevent a director candidate from performing his or her duties
- Nominating at least two suitable nominees for each open position
- Keeping records of meetings
The Nominating Committee consists of the following positions:
- Vice Chair
- Regional Coordinators
- Regional Members
Nominating Committee Qualifications
Any holder of Association voting stock, in good standing, with an outstanding loan balance who is not a Director, employee or agent of the Association may be elected to serve on the Nominating Committee. Nominees are eligible for those positions on the Nominating Committee representing the geographic region in which they maintain their residence or, if they do not reside within the Association’s territory, that region in which the branch which services their loan is located.
Nominating Committee Time Commitment
Nominating Committee members are elected to a one-year term. There are generally six meetings per year and intermittent regional conference calls, as follows:
- Kick-off meeting in Santa Rosa, CA to review expectations and provide training
- A conference call to obtain commitments to serve and provide feedback and further guidance
- Check-in conference call to discuss where each region is in finding candidates
- An in-person all committee meeting to consider candidates for the Board of Directors and the next Nominating Committee
- A territory meeting in which Nominating Committee Members conduct formal interviews with identified Board of Director candidates and finalize candidate slate
- A final conference call to formally slate all Director and Nominating Committee candidates
Nominating Committee Compensation
Nominating Committee members are compensated $500 per scheduled meeting and will be reimbursed for their travel time and expenses incurred for meeting attendance.