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Make a Difference in Yourself and Our Community by Volunteering to serve with First Financial!

The Nominating Committee is always accepting applications for volunteer positions with the credit union. Applications to serve in 2024 are closed, all applications submitted are for 2025. This is a unique opportunity to serve your credit union and share your expertise and knowledge with a group of people you might otherwise have never met. Your fellow volunteers are from different professional backgrounds and communities throughout New Mexico. Share your diverse viewpoints and let your voice be heard by joining the credit union movement and guiding the credit union towards a brighter future.


  • Candidates must be 18 years of age by January 31, 2024.
  • Member in good standing for at least two years.
  • Complete and e-sign the Volunteer application.
  • Applications must be submitted no later than close of business on January 31, 2024.
  • A mandatory meeting will be held where candidates will be interviewed by the Nominating Committee and duties will be covered. 

Please note: applying does not guarantee a position.

Volunteer positions with FFCU are primarily in the following areas:

  • Board of Directors – elected by membership
  • Board Associate – appointed by the Board of Directors
  • Supervisory Committee – appointed by the Board of Directors
  • Supervisory Committee Associate – appointed by the Board of Directors
  • Other Board Committees – appointed by the Board Chair

FFCU Volunteer Position Descriptions


Board of Directors Member


Accountable to: Membership

Responsibility Summary:

To set policy, plan the Credit Union’s course, make sure the Credit Union maintains its sound financial condition, keep communication open to educate members on services, review the CEO’s progress in achieving goals and objectives, and report to the members at the annual meeting.

Duties and Responsibilities:

  • The Board of Directors is responsible for the general direction and control of the credit union. The Board will delegate operational functions to management but not the responsibility for the credit union’s direction.
  • A rule concerning the financial literacy of Credit Union Volunteers was approved by the NCUA Board of Directors on December 16, 2010 which amended the Federal Credit Union Act (FCU Act) Part 701-Organization and Operations of Federal Credit Unions (FCUs). While most of the FCU Act is applicable only to FCUs, the Board of Directors has determined that First Financial Credit Union (FFCU) will adhere to this rule to the furthest extent possible. This rule sets forth the expectations and duties of Credit Union Volunteers, identifying the best interests of the membership as a priority. This policy establishes standards and expectations for Credit Union Volunteers that are necessary to direct the general affairs and operations of the credit union. Additionally, a Director must direct the operations of First Financial Credit Union in conformity with the New Mexico Credit Union Regulations, NCUA’s Rules and Regulations, other applicable laws, and sound business practices.
  • A Director must carry out their obligations in “good faith” and “in the best interests of the membership and credit union as a whole”. Part of this obligation includes making reasonable inquiries to appropriate persons when the situation requires.
  • A Director must administer the affairs of the credit union fairly. Whether in favor or against any member, no impartially or discrimination may be practiced.
  • A Director must have a working knowledge of basic accounting and finance practices. This includes the ability to read and understand the credit union’s balance sheet, income statement and financials. The Director must be comfortable enough with this knowledge to make reasonable inquiries and ask probing questions of auditors and management concerning financials when appropriate.
  • Read and act upon reports of the Supervisory Committee, Auditors and Federal Examiners.
  • A Director must guide credit operations in compliance with applicable law and sound business practices.
  • A Director may rely on information prepared or presented by employees or consultants the Director reasonably believes to be reliable and competent and who merit confidence in the functions performed.
  • Regularly seek out information needed to make sound business decisions about the credit union’s current operation and to make plans for the future.
  • Read credit union publications and general information to stay well-informed on financial and consumer services.
  • Become familiar with laws and regulations governing credit union operations.

Legal Liabilities

A Director can be held legally liable for not learning and/or acting on those things within their scope of responsibility. The credit union provides a $5 million Employee or Director Dishonesty liability bond, as well as an insurance policy to cover any legal costs.

Specific Duties

  • Maintain confidentiality of the business of the credit union and its members.
  • Attend and actively participate in all regular and special Board meetings and planning sessions.
  • Work with the President/CEO and the Board to develop objectives and goals for the credit union.
  • Ensure the credit union adheres to pertinent laws, regulations, and sound business practices.
  • Ensure the credit union maintains sound financial conditions and credit union assets are protected against unauthorized or illegal acts. It is the responsibility of each Director to maintain the fiscal stability of the credit union and a Director may be, under certain conditions, legally held personally liable for the financial failure of the credit union.
  • Designate depositories, authorize borrowing and investing, and provide for bonding and other security factors, including internal control procedures.
  • Approve interest rates and dividends.
  • Approve the credit union budget.
  • Establish and approve policies to guide management decisions and enables the credit union to function in a way that best serves the interest and needs of the membership. Includes policies related to accounts, loans, operations, collections, and personnel.
  • Approve appropriate new products and services.
  • Hire, motivate and terminate the CEO, define the scope of the CEO’s job, review progress in attaining goals and objectives, administer the CEO’s salary and benefits.
  • Maintain, review and update credit union policies, bylaws, security program and succession plan as needed.
  • Monitor and oversee all activities of the Supervisory Committee. Act on suspension or removal of Supervisory Committee members when necessary.
  • Actively serve on committees and complete individual tasks as requested.
  • Recruit new Directors to ensure the credit union has a well-qualified Board in the future.

Associate Board Member


Accountable to:  Membership, Board of Directors

Responsibility Summary:

Attend and participate in meetings of the Board of Directors as an uncompensated appointed volunteer. Become educated on the responsibilities and roles of the Credit Union Board of Directors, along with the overall operations and structure of the Credit Union.

Duties and Responsibilities:

  1. Attend all meetings of the Board and participate in all discussions. These meetings include monthly board meetings, strategic planning sessions, committee meetings and annual meetings.
  2. Prepare for meetings by reviewing all related materials pertaining to the meeting.
  3. Accept committee assignments and work on projects as needed.
  4. Participate in orientation programs.
  5. Review materials pertaining to the Credit Union, such as policy manuals, handbooks, and bylaws, to gain an understanding of volunteer’s responsibilities and the overall operations of the Credit Union.
  6. Read industry related material as it is made available.
  7. Take training courses as directed by the Board Chair.
  8. Attend Credit Union sponsored social activities for volunteers.
  9. Consider future volunteer opportunities as they are presented.
  10. Maintain all business affairs in a professional and confidential manner and refrain from conduct that may present a conflict of interest to the Credit Union.

Qualification Requirements:

  1. A member in good standing for at least two (2) years and a personal interest in participating in the credit union movement.  (A member in good standing means all loans with the FFCU are current and the credit union has not suffered any losses as a result of a charge-off on any loans or other obligations to the credit union.)
  2. Candidates must be at least 18 years old as of the date they begin to serve as an Associate and bondable. The following individuals will not be eligible to serve as an Associate:
  • Current employees of the credit union;
  • Persons related through blood or marriage to employees or those living in the same household of an employee of the credit union
  • Two members of the same household
  • Former employees of the credit union that did not retire from the credit union and credit union retirees that have not been retired for at least three (3) years
  • Any interested third party having a monetary interest in the credit union other than a share membership (i.e. vendors providing goods or services to the credit union).
  1. Must exercise independence from management and in the interest of FFCU.  Must be free from any financial interest, family, or other material personal relationship that would, in the opinion of the Board, interfere with good faith performance of fiduciary duties.
  2. Ability to maintain appropriate confidentiality of all credit union business.
  3. A commitment to attend and participate in all regular and special meetings of the Board of Directors, along with committee meetings periodically.
  4. Ability and desire to attend appropriate education seminars and training programs related to the responsibilities of a credit union volunteer.
  5. Demonstrated desire to learn about the credit union, its services, laws and regulations that govern it and the duties and responsibilities of a credit union volunteer.
  6. Ability to think strategically.
  7. Ability to exercise good business judgment and act in the best interest of the Credit Union and its membership.

Supervisory Committee

Supervisory Committee Responsibilities

The Supervisory Committee is responsible for ensuring that the Board of Directors and management of the credit union (i) meet required financial reporting objectives, and (ii) establish practices and procedures sufficient to safeguard members’ assets.

To carry out these responsibilities the Committee must determine whether:

a. Internal controls are established and effectively maintained to achieve the Credit Union’s reporting objectives, which must be sufficient to satisfy the requirements of the supervisory committee audit, verification of members’ accounts, and other regulatory reporting requirements.  Specifically, with respect to regulatory reports, the Credit Union must file a quarterly Financial and Statistical Report on NCUA Form 5300 and the accounts contained therein must be prepared in accordance with Generally Accepted Accounting Principles (GAAP).

b. The Credit Union’s accounting records and financial reports are promptly prepared and accurately reflect financial position and results of operations in all material respects

c. The relevant plans, policies, and control procedures established by the Board of Directors are properly administered; and

d. Policies and control procedures are sufficient to safeguard against error, conflict of interest, self-dealing and fraud.

In addition, the Supervisory Committee shall:

    1. Supervise and approve the annual audit plan to be executed primarily by the Director of Internal Audit, with assistance from an independent consultant and, from time to time by certain Members, as requested or desired by the Committee Chair.
    2. Hire and terminate, in concurrence with the CEO and Human Resources the Director of Internal Audit.  Direct and evaluate Director of Internal Audit’s performance, including the recommendation of salary and benefits.
    3. Hire a firm of independent certified public accountants to perform an annual audit and to conduct a verification of members’ accounts.
    4. Make or cause to be made a complete verification of members’ share and loan accounts at least once every two years.
    5. Prepare and deliver an annual report to the Board of Directors at the annual meeting.

The Supervisory Committee, as the members’ representative, can also exercise various other important functions:

  • The Supervisory Committee by a two-thirds vote of the entire committee may in its sole discretion suspend a person authorized to extend credit if the person is not a paid employee of the credit union and shall report the action to the Board of Directors for appropriate action. Paid employees of the credit union that are authorized to extend credit may be suspended for any reason but only by the executive officer of the credit union.
  • The Supervisory Committee by a two-thirds vote of the entire committee may suspend any member of the Board of Directors until the next members' meeting, which shall be held not less than seven or more than twenty-one days after such suspension.  At that meeting, the suspension shall be acted upon by the members and the Board member removed from or restored to his position.

In addition to its responsibilities as spelled out in the Credit Union Act and the bylaws, the Supervisory Committee can assist members in resolving any problems they may have encountered in transacting credit union business.  The Committee can informally investigate members’ complaints (at the members’ request) and attempt to resolve the problems to the satisfaction of all concerned parties.  Most important, the Committee can determine that members are being provided adequate service and equitable treatment.

Volunteer’s Responsibilities

A Member’s appointment by the Board of Directors carries with it a heavy responsibility to each credit union member for the safety and soundness of the credit union.  Each Member shall:

  1. Abide by the Attendance Policy
  2. Study the meeting information packet made available prior to the meeting and be prepared to present opinions and comments on the items it contains.
  3. Become knowledgeable of the financial position and activities of the credit union to ensure its fiscal health.  It is the responsibility of each member to be aware of the credit union’s financial condition and periodic results of operations.
  4. Regularly seek out information needed to make sound decisions about the Member’s responsibilities.
  5. Become familiar with laws and regulations governing credit union operations.
  6. Make a report to the Committee within two months of attendance at conferences or seminars.
  7. Complete all training requirements as stated in the Volunteer Handbook.

Associate Supervisory Committee


Associate Supervisory Committee volunteers are appointed to encourage education and preparation of promising candidates for future elected and appointed volunteer positions.  The Board may appoint at any time, one (1) member to serve as Associate Supervisory Committee Member (Associate) under the following direction:

  1. The term of service shall be for one (1) year (annual meeting to annual meeting) and may be renewed annually by the Board.
  2. The Associate may be suspended or terminated at any time by the Supervisory Committee or Board.
  3. The Associate will attend all meetings of the Supervisory Committee and participate in all discussions but may not vote.  These meetings include monthly supervisory committee meetings, participation in the engagement of the annual examination of the affairs of the credit union and may include attendance at monthly strategic planning sessions, committee meetings and annual meetings.
  4. The Associate will be expected to meet the mandatory educational requirements as directed in the Volunteer Policies Handbook.  Associates will be allowed to attend one conference per calendar year with prior approval from the Board Chair.  All training costs will be paid by the credit union in accordance with the Travel and Conference Policy.
  5. The Associate shall abide by the same commitment applicable to all volunteers.
  6. The Associate may have no more than four (4) absences from regular Supervisory Committee meetings during the one-year term of service.
  7. The Associate and a guest are encouraged to attend all credit union sponsored social activities for volunteers.


Volunteer Application

Any questions regarding the application can be directed to Julie Zerbe at 505-462-1117 or [email protected].


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