Determine the organization's mission and purpose.

It is the board’s responsibility to create and review a statement of mission and purpose that articulates the organization’s goals, means, and primary constituents served.

Appointment and removal of the Chief Executive Officer.

Board must reach consensus on the CEO’s responsibilities and undertake a careful search to find the most qualified individual for the position.

Provide proper financial oversight.

The board must assist in developing the annual budget and ensuring that proper financial controls are in place. The approval and monitoring of all financial reporting, capital expenditures, capital management, and mergers and acquisitions.

Ensure adequate resources.

One of the board's foremost responsibilities is to provide adequate resources for the organization to fulfill its mission.

Ensure legal and ethical integrity and maintain accountability.

The board is ultimately responsible for ensuring adherence to legal and ethical standards. The review and ratification of the credit union's internal audit controls and compliance controls, including code of conduct.

Ensure effective organizational planning.

Boards must actively participate in an overall planning process and assist in implementing and monitoring the plan's goals through regular attendance at scheduled board and committee meetings.

Recruit and orient new board members and assess board performance.

All boards have a responsibility to articulate prerequisites for candidates, orient new members and periodically and comprehensively evaluate its own performance.

Enhance the organization's public standing.

The board should clearly articulate the organization's mission, accomplishments and goals to the public and garner support from the community.

Determine, monitor and strengthen the organization's programs and services.

The board's responsibility is to determine which programs are consistent with the organization's mission and to monitor t"1eir effectiveness.