There are lots of
resources and support out there that can help you become a good
director. But there's one ingredient that you have to bring to the
table yourself, and that's your personal undertaking. And that's
equally important whether you were pressed into putting your name
forward to fill a vacant seat or you won a hotly contested
election.
As a committed director you understand and take your role
seriously:
- You understand that together with your fellow board members you
have a responsibility for the well-being of your co-op and you are
ready to meet that responsibility on behalf of the members.
- You are dependable - you go to board meetings regularly.
- You prepare for meetings and think carefully about the
decisions you will be asked to make.
- You accept the importance of ethics in the role of a
director.
- You are ready to meet the standard for directors set out in the
various co-operative acts in Canada. These acts usually say that
directors must act honestly and in good faith in the best interest
of the co-op, and that they must be prudent-in other words, as we
said earlier, directors have the twin duties of loyalty and
care.
- You understand that directors can be personally liable in
certain circumstances. To our knowledge, no co-op housing directors
in Canada have been found personally liable. But you should be
aware of how that could happen. For instance, directors can be
personally liable for unpaid wages to employees. And there are
other examples. Get some advice from your lawyer, or go to a legal
clinic workshop
put on by the sector.
- You ask questions. You look for the information you need to
make sound decisions. Being a director is not a passive role where
you sit back and wait for things to go wrong. A committed director
is not a spectator. If you have an opinion, share it.
- You listen and keep an open mind. As a director you need to be
open to new ideas that you hear from your fellow directors. That
means paying attention to the discussion in the first place. So
listening is an important responsibility for a director. So is
keeping an open mind about what you hear. A board can bring
together a range of views and experience that help us make better
decisions than one person might make alone - as long as there is a
commitment to sharing ideas. The whole really can be greater than
the sum of the parts.
If you fit this picture then clearly you're making the
commitment to good governance that a co-op needs from its
directors. And you're ready to put the next good governance
building block in place - training for the directors