Corporate governance
includes the policies,
bylaws and processes
used to oversee the
business and affairs of
the Corporation. The
Board of Directors has
this governance
responsibility and
operates under formal
Terms of Reference. Many
Board functions are
carried out by the
committees of the Board,
the Risk Management
Committee, the Audit and
Finance Committee and
the Governance and Human
Resources Committee,
with committee
recommendations debated
and voted on by the
Board.
Board Mandate
The Board is
responsible for the
stewardship of the
Corporation and
ensures its purposes
and business
activities as
outlined in the
Credit Union Act are
fulfilled, as per
its Terms of
Reference.
-
The Board
holds a planning
meeting annually
for the
development of a
strategic plan.
In accordance
with the Bylaws,
the final plan
is approved by
the Board and
submitted to the
Minister of
Finance and
Enterprise for
approval.
-
The risks
of the
Corporation are
identified on a
regular basis
through the
strategic
planning process
and at Board and
committee
meetings. The
Corporation has
adopted an
Enterprise Risk
Management
Framework.
-
The
Governance and
Human Resources
Committee
reports to the
Board regarding
senior
management
succession
planning and
employee
training.
-
The Board
monitors and
approves the
appointment of
the President
and CEO
position.
-
The Board
approves the
communications
policy for the
Corporation.
-
The
integrity of
internal
controls and
management
information
systems are
reviewed at
Audit and
Finance
Committee
meetings.
-
The Board
administers the
Mandate and
Roles Document,
between the
Minister of
Finance &
Enterprise and
the Corporation.
-
The review
of committee
memberships and
Terms of
Reference is
completed
annually.
-
The Board
approves and
monitors the
bylaws, policies
and practices of
the Corporation.
-
The Audit
and Finance
Committee
reviews
quarterly
financial
reports and
performance and
recommends the
approval of
annual audited
financial
statements to
the Board.
-
The Board
reviews
recommendations
from the
committees and
establishes ad
hoc task forces
of the Board as
needed.
-
The Board
establishes
appropriate
deposit
guarantee rates
assessed to the
credit unions.
-
The Board approves the Annual Report.
The
following governance
and policy documents
are available in PDF
format
Mandate and Roles
Document:
Mandate and Roles Document
Recruitment and
Appointment Process for
Directors:
Recruitment and Appointment Process for Directors
Code of Conduct and
Ethics for Directors:
Code of Conduct and Ethics for Directors
Code of Conduct and
Ethics for Employees:
Code of Conduct and Ethics for Employees
Policy Documents:
Whistleblower Policy