Director candidates must meet the following eligibility requirements:
- Must be a voter of Class D voting stock
- Must have an outstanding loan commitment with the Association
- Must maintain loan(s) in compliance with Association policies and standards
- Must reside or have headquarters within the Association’s chartered territory (Iowa, Nebraska, South Dakota or Wyoming)
- May not have reached 72 years of age on or before the Director term begins
- May not have restructured indebtedness with a System institution at any time
- May not have been an employee of a System institution within one year of election
- May not serve as a director, officer, employee or agent of a financial institution or other entity that engages directly in the business of providing financing or Risk Management Agency approved products that are offered by the Association
Upon election, Directors may not:
- Be convicted of any felony
- Be held liable for damages in fraud
- Be convicted of a criminal offense involving dishonesty or breach of trust
- File for bankruptcy
Director candidate qualifications sought by the Nominating Committee include an understanding of cooperative principles, a passion and commitment to serve the Association and System stakeholders and knowledge or experience in the following areas:
- Strategic Direction and Counsel
- Governance Effectiveness
- Organizational Performance
- Risk Oversight
- Talent Management
- Communication
- Technology