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Governance

Members of the Board of Directors, Audit Committee, and the management and staff of State Employees’ Credit Union serve the members of the Credit Union.

SECU BOD group

Board of Directors

The Board of Directors comprises 11 SECU members. The Board is the governing body of the Credit Union responsible for establishing policy and determining the general direction and control of SECU. Board members meet monthly, serve as volunteers, and represent the diversity of SECU’s membership. As part of their duties, Board members serve on several Board committees, each tasked with overseeing different areas of the organization, including audit, risk, governance, nominating, diversity, member relations, and IT governance. The SECU membership elects Board members at the Annual Meeting of SECU, usually held during the first few weeks of October. Board members serve three-year terms, and terms are staggered so that at least three or four director seats are open for election by the membership each year.

The Board of Directors appoints a president and CEO to administer the day-to-day operations of SECU. The president and CEO hires management and staff to manage these operations through departments and regional branch districts.

Governance updates

In March 2024, the Governance Committee of the SECU Board of Directors proposed changes to the SECU Election Policies and Procedures to encourage greater voter participation and improve election processes. The proposed changes were highlighted in the presentation Introduction to Proposed Changes for Election Procedures made available on the website for all members. As a member-owned cooperative, the Board encouraged member feedback, as your participation in the governance process is critical to our success.

With strong support from members, volunteers, and staff, we are pleased to share that the SECU Board of Directors voted to adopt the proposed changes, which will further enhance the cooperative principle of Democratic Member Control. The changes will be implemented for the 2024 SECU Annual Meeting and Board Elections. Links to the presentation, survey results, and the 2024 SECU Board Election Policies and Procedures are below.