“New Blood on the Board”
Credit Union: Great Erie Federal Credit Union
Asset Size: $133 Million
Location: Orchard Park, NY
Pres/CEO: Robyn Young
RE: Board Strategy
At Great Erie Federal Credit Union (FCU), the board of directors plays an integral role in guiding the institution’s success and growth. The strategic vision and inclusive approach of the board have been instrumental, especially in recent years, as they have been actively engaged to diversify and strengthen their governance team to better represent the community they serve.
The retirement of their most senior board chairman marked a significant transition for Great Erie FCU. Dedicating 50 years of his life as a volunteer, his leadership was pivotal. As a retired, veteran teacher, he was keenly aware of the importance of community representation on the board to promote the credit union’s outreach and service. His retirement was inevitable, but it also set the stage for a renewed board perspective.
Through his unwavering commitment, a strategic push to diversify board members continued. Presently, the board boasts a variety of professionals both legacy and new members from different sectors such as insurance, law, and education. This mix not only reflects the community’s diverse professions but also brings varied perspectives that enrich the credit union’s decision-making processes.
The benefits of having a board that accurately represents the community have been clear. Over the past four to five years, Great Erie FCU has seen a consistent increase in membership numbers. A diverse board enabled them to better understand and meet the needs of our community, providing a significant strategic advantage.
The credit union actively markets board seat openings through newsletters and its website raising awareness of its community involvement and the rewarding nature of being a volunteer director. Interested board members undergo a rigorous vetting process that includes submitting a resume and participating in an interview. This process ensures that selected candidates are passionate about the credit union’s mission and are ready to contribute effectively.
Additionally, all board members participate in the Certified Credit Union Board Member training provided by the America’s Credit Union’s (formerly CUNA’s) Training Package. This comprehensive orientation equips them with the knowledge and skills needed to lead the credit union as board members.
To further strengthen the board’s connection with the community and ensure a steady pipeline of dedicated volunteers, Great Erie FCU has introduced an associate board member program. Associate members serve on a one-year basis, participating in meetings and learning the ropes without voting rights. This experience is invaluable as it prepares them for potential full-board membership as board seats become vacant.
Great Erie FCU’s board strategy emphasizes diversity, community representation, and thorough training, ensuring that the credit union remains closely aligned with the needs of its members. The board’s proactive approach in engaging and preparing its members for leadership roles illustrates a commitment to sustainability and community service, making it a model for other credit unions to emulate. Through thoughtful planning and strategic inclusion, Great Erie FCU continues to thrive and serve its community effectively. This is clearly an example of a small credit union doing great things!
The above profile was curated from Great Erie Federal Credit Union’s “Board Strategy: New Blood on the Board”, a submission in the Blueprints for Small Credit Union Success published by America’s Credit Unions – March 2024