Credit union sets up leadership elections.
The Los Angeles Federal Credit Union (LAFCU) is now accepting candidates for its board for 2024.
Those interested in being considered for a nomination to the Board of Directors at LAFCU or an appointment to a Board committee starting in 2024 (and you are an eligible LAFCU member), may send a resume of your qualifications to LAFCU so it’s postmarked by Aug. 25, 2023 to:
LAFCU Nominating Committee
c/o Richard Lie, President/CEO
P.O. Box 53032
Los Angeles, CA 90053
Those not nominated for a Board position who wish to run by petition may call the office of LAFCU’s President/CEO at (877) 695-2328, ext. 6309, and arrange to pick up a petition and election packet from 10/2/23 to 11/9/23.
Each petitioner needs to collect at least 500 signatures (either on paper OR via a free, secure online petition website provided by LAFCU) from eligible LAFCU members, and the original, completed petitions and election packet (which must include a statement of qualifications in the proper format) must be returned to one of LAFCU’s branches by 4 p.m. PST Nov. 9, 2023. Since possibly not all signatures will be deemed valid/verified by LAFCU’s Supervisory Committee and/or an outside company, each petitioner is advised to gather 25 percent more signatures (like 625-plus). Filled-out petitions will be reviewed by LAFCU between Nov. 15, 2023 to Nov. 22, 2023. If at least one petitioner is deemed to have enough valid signatures to run against at least one incumbent, then ballots for the 2024 Board of Directors’ election will be mailed to eligible LAFCU members on Jan. 26, 2024.
The election results will be announced at LAFCU’s Annual Meeting on March 26, 2024 at 4 p.m. at LAFCU’s Glendale corporate office and/or via a live video conference. No nominations are allowed from the floor from anyone attending, watching, or listening to the annual meeting. Each Board committee position will be appointed by the Board of Directors.
To be eligible for consideration to be appointed or voted onto the LAFCU Board, candidates must:
- Have $5 or more in an open LAFCU Share Savings account, be a LAFCU “Primary” account holder, and be age 16 or over.
- Be bondable through LAFCU’s bond (insurance) provider.
- Not have caused a financial loss to LAFCU.
- Not have been convicted of a felony or any criminal offense involving dishonesty or breach of fiduciary duty/trust.Voting for LAFCU Board members is one of the privileges of being a member. If there is an election, paper ballots are mailed to members via the U.S. Postal Service that includes an option to alternatively vote online. You are eligible to sign petitions and/or vote if by Oct. 1, 2023 (petitions), or by Dec. 31, 2023 (vote), you:
- Have $5 or more in an open LAFCU Share Savings account, are a LAFCU “Primary” account holder, and are age 16 or over. If you only have a Joint account and want to sign a petition and/or vote, you must open a separate Primary account.
- Have a current address on file with LAFCU (make sure the address is accurate inside online banking, or call us).
- Or have a business account with LAFCU, and the account has a person’s name associated with it as an “authorized signer.”The Board of Directors has the ultimate responsibility for the direction, operation, safety and soundness of LAFCU. The Board ensures that this responsibility is met by setting credit union policy and governing this policy through credit union management. n
