What is the Board?
The Board of our Credit Union comprises seven directors elected by the members. Directors are elected for a three year term. So normally, about one third of the Board is elected at each Annual General Meeting.
The Board elects its own Chair and office bearers.

The Chief Executive Officer is the Secretary of the Board and attends Board Meetings.

Who is on the Board?
The Directors are normally, but not necessarily, serving or retired Australian Defence Force personnel or Australian Public Service officers. There is no particular qualification needed other than that they be members of the Credit Union and meet the basic requirements of the Corporations Law. However, there are strict regulatory requirements as to the fitness and propriety of directors and the Board is required to ensure that these requirements are met before approving the appointment of a new director. Experience has shown that a good working knowledge of the Department of Defence, good financial, business, strategic planning and risk management skills and a penchant for considerable additional reading and research are necessary.

The profiles of individual Directors indicate that they each have special skills and experience. It is a great help if the Directors can work comfortably in a team environment.

What does the Board do?
The Board is responsible for the Corporate Governance of the Credit Union. That means broadly, it is responsible for making the Credit Union work for the benefit of its members while retaining its financial viability, but ensuring it complies with the law.

The Corporations Law imposes stringent guidelines on Directors who carry the ultimate responsibility for the proper running of the Credit Union.

The Board also appoints and terminates the employment of the Chief Executive Officer. It is not the Board's role to run the Credit Union on a day-to-day basis. This is clearly the function of management. However, the Board has a close working relationship with the senior management to ensure that the Credit Union meets the needs of its members while at the same time remaining a healthy business.

How does the Board do its business?
The Board meets once a month for about four hours to conduct its business. Meetings are normally held at the Head Office.

Additionally, most Directors are on Board Committees that meet periodically. The principal committees are the Executive, Audit, Risk and Renewal Committees.

The Board also meets with the senior managers for two full days twice a year to undertake strategic planning for the Credit Union.

Board Member Profiles

John Wood, Director and Chair of the Board

Warren Thomas, Director and Deputy Chair of the Board

John Brooks, Director and Chair of the Audit Committee

Michael Morrison Pike, Director

Jane Spalding, Director

Clinton William Thomas, Director and Chair of the Risk Committee

Graham Weber, Director