Five seats on the Board of Directors are up for election/reelection. These members are elected from the general membership to represent the Good Tern.
As Stated in the by-laws, the Good Tern Board of Directors must consist of 9 members. Article III from Good Tern By-laws:
“Members: The Good Tern Co-op is an association of Members who must be at least 18 and meet the following requirements:
A. To be eligible for membership an individual must make an annual equity payment.
B. Employees of the Good Tern who have been employed for at least 6 months shall be considered to have fulfilled all membership requirements and are members of the Co-op as long as they remain employees.
Article VII: The Board of Directors shall oversee the management of the co-op and make the decisions necessary to carry out the purposes as set forth in the Articles of Incorporation. The duties of the Board shall include but are not limited to, the following:
A. Election of Officers
B. Employing the store manager
C. Establishing personnel policy
D. Appointing a clerk of the corporation
E. Determining fiscal policy and raising funds
F. Maintaining financial and administrative records
G. Preparing the agenda for membership meetings and reporting the finances and progress of the Co-op at the Annual Membership Meeting.
Three legal charges for Boards are fiduciary duty, duty of loyalty and duty of care. As trustees of the cooperative, board members have a special relationship to the cooperative to make business decisions focused only on what benefits the cooperative and all of its members. Decisions must be based on careful consideration of the issues. The fundamental legal standard for board members is to act in good faith, in a manner they believe to be in the best interests of the cooperative, and with such care, including reasonable inquiry as an ordinary prudent person in a like position would use under similar circumstances. The Board makes decisions and sets policies that are in the best interests of the cooperative. The board reports to the membership on issues and communicates to members about the policies it originates, approves, and revises. Some decisions are made by the entire membership.
Other than being a Good Tern member-owner in good standing, no prior experience or professional training is required to run for the board. Though every member is eligible to serve on the Board, certain skills and abilities make for useful and satisfied directors. They include: • Integrity, flexibility, and common sense
• Communication and group process skills
• Leadership and facilitation skills
• Ability to see the big picture
• Ability to understand financial statements (training provided to all new BOD members)
• Ability to support a group decision, regardless of personal viewpoint
• Commitment to enhance the quality of life for our community
• A desire to learn
• Understanding of the cooperative movement, cooperative values &principles, and Good Tern history.