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Credit Union Board and Committee Minutes:

Minutes are a part of books and records concerning the safety and soundness of credit unions (K.S.A. 17-2206). Minutes are a final accurate record of what transpired at a board or committee meeting and are considered to be a legal document.

Minutes at a minimum consist of the following:

• Name of the credit union
• Date, time, location (address) of meeting
• Complete list of all attendees, determination of a quorum, time of attendance by name for those who arrived after the meeting is formally convened and departed prior to the end of the meeting.
• A copy of the agenda
• Reports such as financial statements, committee reports, etc.
• Approval of loans to be charged off, identified by each loan or an amount corresponding to an attached list
• Approval of new members, unless a membership officer is appointed
• Approval when changing loan rates
• Approval of dividends
• Approval of loans to officials, as required by K.S.A. 17-2216a(b)
• Recording of all motions
  

Record motions properly. A motion is a formal suggestion made by an attendee at the meeting that has been seconded by another attendee, and then passed by a vote. The secretary or member who records the minutes may need to restate a motion after a lengthy discussion. It is therefore very important to record these motions exactly as they have been stated. An example of how to document a motion is as follows: Moved, seconded, and carried that all members of the Board established the quarterly dividend as 3% on member share accounts. The names of all attendees making and seconding any motions should be recorded.

Record every action taken. Actions taken by consensus are discouraged but if occur should be recorded as part of the minutes. Pertinent points made by attendees as part of a discussion prior to a motion should be recorded as part of the minutes. One final tip would be to read the book Robert’s Rules of Order. This is an excellent tool to assist anyone taking minutes. It will help to familiarize you with the format for making, seconding and amending motions.