Board of Directors

Seattle Metropolitan Credit Union is a non-profit cooperative, a business voluntarily owned and controlled by its member patrons. The membership elects nine members to serve three year terms on the Board of Directors. An election for three positions on the Board of Directors is held annually. Terms are staggered to maintain continuity of six positions each year. The results of each of the annual elections are announced at the Annual Meeting of the Membership.

The current nine Directors are: Camilla Bishop, Rodney Eng, James A. Fossos, Ken Harer, Ray Hill, Robert Leighton, Frank Mathews, Jack McGoldrick and Jim Yearby. You may view information about each Director under Current Directors.

The Board of Directors is responsible for the operation of the credit union to insure up-to-date products and services are provided for the membership with the utmost financial integrity. This is accomplished by:

• Policy creation and evaluation
• Strategic Planning
• CEO Accountability
• Overseeing Member Service
• Community Representation
• Financial Governance

The Board of Directors meets each month to review and evaluate all aspects of the credit union.

There are several board committees under the direction of the Board of Directors. SMCU members are encouraged to participate in their credit union by volunteering for the Corporate Citizenship committee. You may view the responsibilities of the committee under Board Committees. To participate, download a committee application here or contact the Administrative Coordinator at 206-398-5560.

The membership also elects an independent, three-person audit committee. You may view information about the committee and its responsibilities under Supervisory Committee.

Volunteer Elections

Procedures for Electing Members to the Board of Directors and Supervisory Committee

1. The Chair of the Board of Directors shall appoint a Nomination and Election Committee no later than the regular board meeting in October. The Board of Directors shall establish the minimum criteria for eligibility.
2. Eligibility - To be eligible for nomination for a position on the Board of Directors or the Supervisory Committee, the candidate must have the following minimum qualifications:
   1. Minimum age: 21
   2. Membership in SMCU for a minimum of one year or membership in any merged credit union for that same period.
   3. All accounts with SMCU (or the merged credit union) in good standing, continuously, for the past year, with no prior losses to the credit union
   4. Must pass all screening requirements:
      1. To submit a written statement of interest and intent to run prior to midnight, the first working day of December, or such other date as requested by the CEO and approved by the Board.
      2. To submit a resume, if one is not on file with SMCU.
      3. To pass a background check:
         • Credit Check;
         • Employment Verifications for new candidates, if applicable;
         • Education Verifications for new candidates;
         • CUMIS background check.
   5. A Bachelor’s degree in business, management, or finance or a post-graduate degree related to business, management, public admission, law or some other field the Nomination and Election Committee determines would be of specific benefit to the board of the credit union, or equivalent work experience.
   6. Demonstrable education, work experience or volunteer experience related to the business, finance, management or governance of a non-profit organization.

3. A notice of election shall be placed in branches, on the web site and in the fourth quarter issue of the Credit Union’s newsletter, advising members how to apply for consideration by the Nomination and Election Committee and of the requirements for application.
4. To become a candidate:

1. Self-nomination - apply to the Board of Directors’ Nomination and Election Committee by sending a resume and statement of interest. The statement of interest will be published in the ballot and should include the candidate’s qualifications and biographical data, not to exceed 275 words. The candidate may specify their vision for the credit union, including why s/he is the best candidate for the Board. The Nomination and Election Committee interviews the applicants and approves the nomination of candidates.
2. Membership nomination - Nominations of candidates who have passed the screening requirements and are willing to serve, whom the Nomination and Election Committee has declined to recommend, may also be made by petition, signed by not less than 1% of the membership eligible to vote, filed with the Board of Directors no later than two weeks following written notification by the Nomination and Election Committee of their decision, or at the Board’s regular meeting of the month of December, whichever occurs later. The nominee must submit the following:
   1. the petition;
   2. a written statement accepting the nomination;
   3. a resume; and
   4. a statement of interest (275 words maximum).
3. Applications and petition should be brought to the SMCU Administrative Offices on the second floor of the downtown building or mailed to the following address:
   
   Seattle Metropolitan Credit Union
   Attn: Nomination and Election Committee
   P.O. Box 780
   Seattle, WA 98111-0780
   For information, call the Administrative Coordinator at 206-398-5560

5. If more candidates are nominated than the number of vacant positions, the Board of Directors shall provide for an election by secret, mailed ballot or by secure email vote. All candidates for positions shall run as a field, and the candidates receiving the highest number of votes shall be elected, first to the expired terms and then to any unexpired term(s). Where only one person is nominated for a position, that person shall be declared elected at the next annual meeting. If the number of candidates is equal to the number of vacant positions, the mail or email ballot shall not be used, and those candidates shall be declared elected and so reported at the next annual meeting.
6. Election Tellers - The Supervisory Committee shall be the tellers of the election. It shall be the duty of the tellers of the election:

1. To verify, or cause to be verified, the eligibility of the voter;
2. To verify, or cause to be verified, the voter’s Credit Union account number, as appearing on the identification form or electronic records;
3. To place the verified, mailed identification form, the ballot envelopes and all other election-related documents in a place of safekeeping, pending the count of the vote;
4. In the case of a questionable or challenged identification form or ballot, to retain the documents until the verification or challenge has been resolved;
5. To place the report of eVotes in a place of safekeeping, pending any challenge; and,
6. In the event that more than one voting procedure is used, to verify or cause to be verified that no eligible voter has voted more than one time.

The tellers may employ reliable random sampling methods in verifying eligibility, signatures and account numbers.

7. Ballots must be postmarked or cast by electronic vote no later than the date fixed in the instructions to voters.
8. Report of Election - the voting shall be deemed closed after the deadline date and the votes tallied by the tellers or their designee. The results are announced at the annual meeting.

Annual Meeting of the SMCU Membership

A meeting of all members of Seattle Metropolitan Credit Union is held once each year, generally in the spring. An announcement of the Annual Meeting is published in the January issue of the member newsletter. Printed notices, giving the date, time and location, are posted in all the branches. All SMCU members are encouraged to attend.

Reports from each of the Board of Director committees are presented at the meeting, providing information about the committee's activities throughout the year, along with a report from the CEO. The results of the Annual Elections are also announced at the meeting.

For any additional information please call the Board of Directors' Administrative Coordinator at 206-398-5560.

Board Committees

Credit Union members serve as volunteers on the Board Committees. Members are encouraged to participate in their credit union by volunteering for committees. The following committees are under the Direction of the Board of Directors:

Executive Committee

• Jim Yearby, Board Chair
• Jim Fossos, Board Vice Chair
• Camilla Bishop, Board Secretary
• Ken Harer, Past Board Chair
• Richard Romero, Treasurer

Finance and Budget Committee

• Frank Mathews, Board Member
• James A. Fossos, Committee Chair, Board Member
• Ken Harer, Board Member
• Ray Hill, Board Member
• Richard Romero, Treasurer

Corporate Citizenship Committee

• James A. Fossos, Board Member
• Jill Vicente, staff
• Camilla Bishop, Committee Chair, Board Member
• Elizabeth Day
• Gary Karns
• Jerry Larson
• Jack McGoldrick
• Ben Wakefield

Responsibilities of Each Committee

Executive Committee

• Review acquisition, or restructure of any Credit Union facilities.
• Set Board meeting agenda.
• Establish ad hoc committees as needed.
• Hear and decide member appeals of decisions by appointed loan officers. 
• Set the agenda for the annual planning retreat. 
• Review and comment on management’s strategic planning recommendations.

Finance and Budget Committee (FICOM)

• Review and recommend for approval investment and liquidity policies to the Board.
• Direct that investments be made in accordance with those policies.
• Approve financial institutions and investment brokers for policy implementation.
• Recommend any proposed use of investment management services.
• Set parameters for management’s setting of savings and loan rates.
• Monitor asset/liability management plan targets and recommend action as needed.
• Review and recommend acceptance or rejection of the annual operating budget as prepared by management. 
• Provide oversight and review of the progress toward the budget targets on a regular basis.

Corporate Citizenship

• Review scholarship applications and select award recipients per BRD 305, Section 4.
• Review all requests for donations and allocate budgeted funds.

Current Directors

• Camilla Bishop
• Rodney Eng
• James A. Fossos
• Ken Harer
• Ray Hill
• Robert Leighton
• Frank Mathews
• Jack McGoldrick
• Jim Yearby

Camilla Bishop

Camilla Bishop was elected to the Board of Directors in 1991 and served as Board Chair from 1996 through 1999. She was also the Vice President of Seattle Metropolitan Financial Services from 1999 through 2004 and was instrumental in starting the scholarship program. She has over twenty years of management experience, including eleven years as the principal of her own management consulting firm and as the Vice President/Chief Financial Officer of an engineering firm.

Ms. Bishop has both a Masters and Bachelors degree in business and completed the Credit Union Leadership Institute at the London Business School, where she earned her CCD (Certified Credit Union Director) designation. Ms. Bishop has completed all levels of continuing education offered to credit union directors, receiving the Filene, Raiffeisen, and Bergengren awards.

She originally joined the credit union when she was a city employee and has worked for the Police and Personnel departments, the Mayor's office, and Seattle City Light.

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Rodney Eng

Rodney Eng was elected to the Board in 2006. He has volunteered for the Credit Union for over twenty years. Most recently he has served as the Chair of the Governance and Policy Committee and is currently serving as Board Secretary.

Rodney has worked as an assistant city attorney for the Seattle City Attorney’s office since 1980. He has practiced in several fields including criminal prosecution, employment and personnel law, tax, municipal finance, construction, and contract law, and in various management positions. Since 1990, he has been the Director of the Contracts Section.

Rodney was born and raised in the City of Seattle. He is a graduate of Franklin High School, Yale University with a degree in Economics, and the University of Washington Law School.

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James A. Fossos, CCD

Mr. Fossos was first elected to the Board of Directors in 1986 and served as Board Chair from 1993 through 1995. He is currently serving as Chairman of the Corporate Citizenship Committee. He has been an SMCU member since joining the Seattle Fire Department in 1970.

Before becoming a Seattle Firefighter, Jim served proudly as a US Marine in the Vietnam War with the now famous 1st Reconnaissance Battalion, 1st Marine Division FMF and was honorably discharged at the rank of Sergeant on April 1, 1969. In January of 1970, he was appointed to the rank of Firefighter with the Seattle Fire Department and retired from Truck Company #1. He has served in many capacities as an elected official and is most proud to have served as a Seattle Fire Fighters Union Local 27 Officer for over 20 years of his 31-year career. Currently he serves Vice Chairman and Fire Commissioner with South King Fire & Rescue. Jim also serves as the elected Pension Board Representative on the Seattle Fire Fighters Pension Board representing both Retired and Active Seattle Fire Fighters. Further, he is Vice President of the Retired Fire Fighters of Washington.

Jim has an Associate Degree from Seattle Community College in Fire Command & Administration and Supervision and Management.

Mr. Fossos has completed the Credit Union Leadership Institute Course earning a CCD (Certified Credit Union Director) Designation and has completed all levels of continuing education offered to credit union directors, receiving the Filene, Raiffeisen, and Bergengren awards. In 2002, he received the coveted Outstanding Credit Union Volunteer of the year (2001) award from the Washington Credit Union League. Jim states, “Joining the Credit Union was one of the best decisions I ever made.”

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Ken Harer

Ken Harer was elected to the Board of Directors in 1996. He currently serves on the Executive Committee and the Finance and Budget Committee.

Ken is a practicing attorney and has management experience in public and private sectors.

Mr. Harer has two undergraduate and three post-graduate degrees from the University of Washington in the areas of Law, Taxation, Business, Art and Architecture. Mr. Harer has completed the Credit Union Leadership Institute earning a CCD (Certified Credit Union Director) designation. He has completed many levels of continuing education offered to credit union directors, and has received the Supervisory Committee Award, the Filene Award and the Technology Award.

Correspondence to Mr. Harer may be sent to: Condominium Law Group, 10310 Aurora Avenue North, Seattle, WA 98133.

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Ray Hill

Ray Hill was elected to the Board of Directors in 1982 and served as Board Chair 2001 - 2003. He currently serves on the Finance and Budget Committee. Ray is a retired Senior Management Systems Analyst for the City of Seattle.

Mr. Hill has a Public Administration Degree from the University of Puget Sound. He has completed many levels of continuing education offered to credit union directors, and has received the Filene and Raiffeisen awards.

He originally joined the credit union when he began employment with the City of Seattle.

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Robert Leighton

Robert Leighton was elected to the Board of Directors in 1997 and currently serves on the Finance and Budget Committee and on the Supervisory Committee.

Mr. Leighton's business experiences includes the National Credit Union Association, Georgetown University Student Federal Credit Union, Kidder, Peabody & Company, Northern Trust Corporation, Washington Mutual Strategic Capital Fund, and most recently with Orient Global, and emerging markets investment firm.

Mr. Leighton has a B.S. Degree from Georgetown University and a MBA degree from Harvard University. He is also a Chartered Financial Analyst.

He originally joined the credit union when he applied for his company to become included in SMCU's Field of Membership in 1995.

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Frank Mathews

Frank Mathews was elected to the Board of Directors in 1993 and served as Board Chair from 1999 through 2001. He currently serves as Board Historian and also serves as Chair on the Finance and Budget Committee.

Frank was hired in 1964 as Administrative Assistant to then-CEO Tony Marino (at that time the credit union was known as City Credit Union). When Tony retired in 1971, Frank became Treasurer/Manager (later President/CEO) until he retired in 1992.In 2002 the Washington Credit Union League chose Frank Mathews to receive their Mark of Excellence Award, an annual award given to one individual for giving 25 years or more of service to credit union members and the Credit Union movement in the State of Washington.

Mr. Mathews has a B.A. in Business Administration from the University of Washington. He also is a graduate of CUNA School, University of Wisconsin. Mr. Mathews has completed all levels of continuing education offered to credit union directors, receiving the Filene, Raiffeisen and Bergengren awards.

He originally joined the credit union when he became an employee of the credit union in 1964.

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Jack McGoldrick

Bio coming soon.

 

 

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Jim Yearby

Jim Yearby is a certified human resource professional. He is currently serving as Board Chair. He has over twenty-five years of executive level experience in a variety of organizations: the Seattle Police Department, King County Government, Washington State Ferries and the City and County of Denver. He has also served as a private consultant on human resource and management issues. His non-profit board experience is extensive, having served on the Child Haven, Atlantic Street Center, Neighborhood House, Mt. Baker Youth Service Bureau boards and others.

His academic qualifications, certifications and executive management experiences include the following:

• BA degree in business administration with specialties in finance and economics
• MA degree in public administration with major course works in management and accounting
• 20 years executive management and policymaking experience
• Certified Human Resource Professional (SPHR designation)

"I am honored to have served you in the past. I am anxious to continue serving you with the same dedication, professionalism and competence in the future."

"Thank you."

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Supervisory Committee

Information and Responsibilities

The Supervisory Committee is an independent Audit Committee. The Supervisory Committee at SMCU is elected. It is comprised of five members. The regular term for each elected Committee member is 3 years. One member of the Committee can be a member of the Board of Directors, and the Committee has one member who serves on both. As with the Board, the Committee members must maintain the highest level of confidentiality, as well as demonstrate integrity and independence in their relationship with SMCU.

The Committee has one full-time staff person, the AVP of Internal Audit, who works on their behalf and at their direction.

The Supervisory Committee’s primary duties and responsibilities are as follows:

• To monitor the actions of the Board of Directors and other officials.
• To oversee all areas of the credit union's financial performance.
• To report on audit findings.These duties and responsibilities include the following:
  • Ensure that an opinion audit and member account verification is performed each year, as well as other internal and special audits throughout the year.
  • Ensure that deficiencies identified through audits are brought to the attention of the Board and management; track and review progress on audit/examination findings or recommendations.
  • Regularly review the financial and accounting records, and the Minutes of the Board.
  • Ensure that effective internal controls are established and maintained, and that policies and procedures are established, maintained and in compliance with current regulations.
  • Periodically meet with management to discuss issues of internal control and compliance.
  • Recommend courses of corrective action to the Board and management.
  • Review member complaints, investigate suspicious and unsafe activities.
  • Serve as Tellers of the Volunteer Elections.
  • Report to the members as to the Committee's activities at each Annual Meeting.

Members of the Elected Supervisory Committee

• Ben Wakefield, Chair
• Robert Leighton
• Gary Skinner, Secretary 

The Supervisory Committee is available to review your questions or comments by regular mail sent to their separate P.O. Box. Please address your correspondence as follows:

Supervisory Committee
P.O. Box 12334
Seattle, WA 98111-4334