Directors are elected by OMISTA’s members. Each Director holds office for up to three years and may serve a cumulative maximum of nine consecutive years, as outlined in OMISTA’s By-Laws.

To be eligible, a candidate must:

• Be a citizen of Canada and 19 years of age or older
• Be a member of OMISTA Credit Union in good standing
• Meet the requirements set out in OMISTA’s By-Laws

A Director cannot be:

• An undischarged bankrupt
• An employee, or the spouse of an employee, of OMISTA Credit Union, Atlantic Central, or the New Brunswick Credit Union Deposit Insurance Corporation
• An auditor of the Credit Union or a member of the auditor’s firm
• A solicitor of the Credit Union
• A person employed in the civil service whose official duties relate to credit unions
• A person without the written approval of other Directors who has a loan in arrears (more than three months)
• A person whose loan with the Credit Union is more than six months in arrears

The OMISTA Board reviews its skills annually to identify gaps and guide recruitment. For 2026, we are particularly seeking nominees with expertise in:

• Information technology, artificial intelligence, or cybersecurity
• Financial regulation and compliance
• Law and governance

Directors must be comfortable using digital tools to access meeting materials, participate in virtual meetings, and communicate electronically.

The Board of Directors governs OMISTA Credit Union by providing oversight, strategic guidance, and accountability. Directors are responsible for:

• Approving and monitoring OMISTA’s Mission, Vision, and Code of Ethics
• Contributing to and approving the strategic plan, including risk oversight
• Ensuring systems are in place to manage key organizational risks
• Selecting, evaluating, and supporting the CEO
• Monitoring progress toward strategic and business objectives
• Establishing strategic policies and approving budgets
• Assuring stakeholders of OMISTA’s financial integrity
• Maintaining confidentiality of Board business and decisions
• Reviewing and updating Board responsibilities annually

Time and Capacity

• Completion of the Credit Union Director Achievement (CUDA) program within first term.
• Prepare for and attend all meetings (in person or virtually)
• Monitor the Board portal and email for timely updates

Teamwork

• Work effectively within a governance body
• Respect and support collective Board decisions

Communication Skills:

• Communicate clearly and professional
• Ask thoughtful, informed questions
• Participate actively in meetings
• Engage electronically when required

Recognizing increasing regulatory expectations and our organization's desire to promote a more inclusive culture representative of the members and communities we serve, OMISTA Credit Union is committed to equity, diversity, and inclusion in all areas of our work. 

No nominee will be denied consideration by reason of race, sex, religion, or affiliation with any group — nor will any nominee be selected solely for such reason.

A Director should possess integrity, openness, sound judgment, and the ability to work productively with others while committing the time and effort required.

Directors receive an honorarium and per-meeting allowance in recognition of their time and contributions. 
Honorarium - $5000 per year
Per meeting - $350 per meeting

Additional benefits include:

• A technology honorarium for personal equipment used for Board business
• Reimbursement for travel, meals, and accommodations while on OMISTA business
• Coverage of tuition for the Credit Union Director Achievement (CUDA) program
• Opportunities to attend regional and national credit union conferences
• Coverage under OMISTA’s Director Liability Policy

Serving on OMISTA’s Board is a rewarding way to give back to your community while building leadership skills and contributing to the success of a member-owned financial institution