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Home > About YNCU > What is a credit union?

Contact the board of directors at boardofdirectors@yncu.com

Board Roles and Relationships

Credit Unions are regulated by provincial legislation, and each undergoes audits and annual inspections to ensure strict adherence to sound financial practices. The Board of Directors represent the interests of the members, sets policy and overall strategy of the credit union, while qualified staff maintain the hands-on responsibility for the day-to-day operations.

Joining the Board

Each board member is usually elected for a three-year term. Nominations are received prior to the fiscal year end and both nominators and nominees must be a member of YNCU in good standing for a minimum of one year and be at least 18 years old. If you're interested in seeking election to the Board of Directors, please contact the Chair at boardofdirectors@yncu.com

Board Elections and Annual Meeting

Elections of the board of directors generally take place at the credit union’s annual meeting. Not only a forum for elections, the annual meeting provides an opportunity for the board to report to members on the activities of the credit union over the past year. Members have an opportunity to discuss matters of concern and can vote on policy decisions and any proposed amendments to the bylaws of the credit union.

Director Training Program

Credit union directors serve in a volunteer capacity. To help directors serve members better, credit unions offer the Credit Union Director Achievement (CUDA) program. CUDA is a formal certificate program available from Credit Union Institute of Canada, the national education training organization for the Canadian credit union system.

Member Relations

A standing committee of the Board of Directors, the Member Relations Committee is appointed to facilitate effective communication between the Members and the Board of Directors and to administer the credit union's Chartiable Donations Policy. (Learn more in Making a Difference).