We’re on the look out for enthusiastic individuals to join our board on a voluntary basis, in the following roles:
Non Executive Director (Voluntary)
Secretary (Voluntary)
Applicants do not need to be existing members but would be required to become members. The roles are voluntary but reasonable expenses are paid. They provide the opportunity to become involved in leading a co-operative business providing an important financial and social service to members.
What’s involved?
Board Director: The Board meets formally around 6 times a year (in Manchester or online), attends the Annual General Meeting with members, and has a number of committees which meet outside of the full board meetings on specific areas such as Risk & Compliance. Full role details are available below.
Secretary: We would also be interested to hear from anyone with company secretary experience for our Secretary role.
Interested in applying?
In order to apply, please email your CV along with a covering note, setting out how your skills and experience meet the role requirements to The Co-op Credit Union’s Chief Executive, Matt Bland at: matt.bland@co-operativecreditunion.coop
Please also feel free to contact Matt if you would like to have an informal discussion about the role/s before applying.
Role Description for The Co-op Credit Union Director
Title: Board Director
Reports to: Members
Purpose of the role
The main purposes of the role are to:
- set policy, develop the credit union’s strategic objectives and plans
- ensure that the credit union operates within the law and relevant regulation
- ensure that the credit union is maintained in a sound financial condition
- review the credit union’s mission, long term objectives and strategies through a comprehensive business planning cycle
- communicate with members in order to inform the business planning process and provide feedback to members
- review the progress of the credit union towards its business plan objectives
- evaluate the services that the credit union provides
- report to the members at the Annual General Meeting and at appropriate opportunities throughout the year.
Specific Duties
- Work with management and other board members to develop objectives and goals for the credit union
- Ensure that the credit union complies with the law, its rules and policies and procedures
- Ensure that the credit union is in a sound financial position and that the credit union’s assets are protected against unauthorised or illegal acts.
- Designate authorities for management and staff, authorise borrowing, set investment policies and provide for appropriate insurance cover
- Establish policies or make sure that they are established, and approve them for all credit union activities
- Ensure that new products and services are developed in line with member needs
- Approve the credit union’s budget on an annual basis and monitor progress throughout the year
- Appoint management, define his/her job description, and review his/her progress in the job, in attaining the credit union’s goals and objectives.
- Attend Board meetings and any sub-committee meetings.
- Exercise judgement independently from management, and report to the members at the Annual General Meeting
- Directors occasionally attend meetings of the trade association and other external meetings where appropriate and report back to management and other directors.
More about us
An opportunity to be part of an exciting co-operative business
The Co-op Credit Union is a member-owned and run business, providing savings and loans services to employees across the co-operative sector. It is based at the Coop’s headquarters at 1 Angel Square, Manchester, has nearly 9,000 members, savings under management of over £5 million and a loan book approaching £3 million. It was formed in 1998 to support the employees of The Co-op Group with support from the then Chief Executive.
The Co-op Credit Union provides responsible and affordable credit to its members, in many cases in competition with high costs lenders and to whom mainstream lenders will not lend. Our maximum rate of interest is 35% APR which is competitive in a context where bank overdrafts now charge around 40% APR and high cost credit continues to grow despite the demise of the payday lending model.
Crucially, the credit union is about building financial resilience by encouraging members to build a savings habit where none existed before. This is a long-term path to financial wellbeing and resilience for our members and is a core part of the credit union ethos.
The Co-op Credit Union is fully regulated by the Financial Conduct Authority and the Prudential Regulation Authority, a member of the Financial Services Compensation Scheme (which protects member deposits to £85,000). We employ 9 people and have a board of non-executive directors who provide strategic direction and oversight of the business.
