Board of Directors Election
Dear Member:
Thank you for your interest in running for a Director seat on the Board of Directors of Lookout Federal Credit Union. We are a member-owned, nonprofit cooperative thrift institution formed for the purpose of encouraging savings by offering a reasonable return, using collective funds to make loans at competitively low interest rates to members and providing other member services on a cooperative basis. Members are united by a defined field of membership and democratically operate the Credit Union in compliance with state and federal laws and regulations. As such, Lookout Federal Credit Union’s Nominating Committee has established minimum requirements to be nominated for a seat on the credit union board. They are:
- Be a member in good standing at the Credit Union.
- Be at least 18 years of age.
- Never been convicted of a crime involving dishonesty or breach of trust.
- Be honest, of high integrity, and willing to act solely for the interest and benefit of the credit union and its members.
- Be able to devote the time necessary to attend meetings and other functions.
- Not a current employee of Lookout FCU or other financial institution.
- Not a former employee of Lookout FCU or other financial institution within the previous three years.
- Not a spouse or close family relation of a current employee or volunteer at Lookout FCU.
- Not a spouse or close family relation of a former employee who was employed by Lookout FCU within the previous three years.
- Not a volunteer or paid board or committee member of a financial institution.
If the Nominating Committee does not nominate you for the election ballot, you may still be nominated by petition by securing a minimum of 275 and a maximum of 500 valid signatures from members of Lookout Federal Credit Union, who are in good standing. However, in order to be eligible for nomination by petition you must meet the first three requirements or your name will not be added to the ballot.