WASHINGTON — Two delegates from the Maryland & D.C. Credit Union Association, through the World Council of Credit Unions, have returned from Nicaragua after sharing ideas with the fledgling credit union system there on governance.
John Link, treasurer of Agriculture Federal Credit Union, and Michael DiGennaro, a member of Federal Reserve Board Federal Credit Union's nominating committee, spent three days visiting credit unions and working with the Central Service Organization of Nicaragua (CSO) to devise a system to help credit unions recruit and nominate qualified candidates.
The group provided CSO specific recommendations for establishing, implementing and regulating the functions of the nominating committee, including election procedures for volunteers, recruitment and selection of board members and minimum qualification standards, all within the framework of credit union bylaws. The ideas were then presented to Nicaraguan credit unions.
"The idea of a nominating committee is new in Nicaragua, and, at first, it was somewhat misunderstood," CSO Chief Financial Officer Chris McHugh explained. "What we had to make clear in this process was that the nominating committees aren't so much a filter as they are a means to generate interest among the membership to become volunteers and to enrich the electoral process by providing more information to the membership about the candidates."
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