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Ashoka Credit Union Manager -- Job Opening

Jan 25, 2012

Ashoka Credit Union has an opening for the position of Credit Union Manager in Boulder, CO. The manager is the chief operating officer of the Credit Union, which was formed under the laws of the State of Colorado in 1975 under the guidance of the Druk Sakyong. Ashoka's field of membership includes the extended Shambhala community, their family members, and associations within the Shambhala community.

Please see details below for a job description, including a list of responsibilities and minimum qualifications for this position, and a description of the Credit Union. Please address any questions to Dennis Robertson, the current manager at: Information about Ashoka Credit Union may also be found at:

In order to be considered for this position, please e-mail a letter of interest including a resume and other description of qualifications, a short statement of the reasons for your interest, and a short list of references to: All applications and corresponding documents must be received by Wednesday, 29 February 29 2012 before 5:00 p.m. EST.

Job Description:

The Manager is the Chief Operating Officer, Treasurer, Loan Officer, and Secretary of the Credit Union. The Manager is the public representative of the Credit Union and is responsible for member, borrower, regulatory, committee, employee and Board relationships. The Manager shall lead and support the Board in planning and managing the Credit Union; keep the operations of the Credit Union in compliance with applicable state and federal law and regulation, and the Credit Union bylaws and policies; enable regulatory Examiners to evaluate the implementation of policy; and maintain a thorough record of management systems and operations.

The Manager's specific responsibilities include:

1) Plan for Credit Union membership, facility, and services in cooperation with the Board of Directors and implement approved plans.
2) Market the Credit Union and its services to the field of potential membership.
3) Prepare the annual Credit Union budget for approval by the Board and report monthly on the financial and other performance of the Credit Union.
4) Review and propose revisions to the Credit Union bylaws and policies as necessary to comply with law, Examiner's findings, and Board direction.
5) Implement loan approval, documentation, and collection process from application through disbursement and repayment. Review loan applications. Keep monthly record of Loan Officer activities. Develop and maintain an effective risk management system for Board review and approval.
6) Maintain the general ledger and prepare monthly and annual financial reports.
7) Invest surplus funds for the best insured yield.
8) Prepare tax forms and compliance reports required for federal, state, NCUA, and other regulatory compliance.
9) Communicate effectively with members, potential members, staff, public representatives, regulatory agencies, Board members, and others.
10) Schedule, lead, and keep minutes for monthly Board and the Annual Members meetings.
11) Schedule and support internal Supervisory Committee audit work.
12) Supervise the work of paid and volunteer committees and assistants.

Terms of Employment, Performance Review, and Compensation

The Manager is a full-time, managerial level employee. The Manager is the only full-time employee of the Credit Union. The expectation is that the Manager will work approximately forty (40) hours per week for the Credit Union. The compensation range for the position, depending on training and prior experience, is between $40,000 and $50,000 per year, plus health and other benefits to be determined between the Manager and the Board.

The Board of Directors and Manager shall cooperatively set annual performance expectations and goals for the Manager. The Board shall review performance periodically during the year. The Board President or his/her designee shall conduct an annual performance review of the Manager as part of the annual budget process. The Manager's salary and benefits shall be reviewed and set annually documented in an employment contract signed by the Manager and the Board President.

The Manager should have the skills and experience necessary to successfully fulfill the role of the Chief Operating Officer of the Credit Union. These include, generally:

1) A minimum of two years of business, banking, collections, and lending experience.
2) Accounting experience through preparation of financial statements.
3) Confidence, the ability to self-direct, and good supervisory skills.
4) Computer skills appropriate to management of the Credit Union technology.
5) Membership in the Credit Union field of membership.


Ashoka Credit Union is a credit union formed under the laws of the State of Colorado. Ashoka is regulated by the Colorado State Banking Commission. All funds deposited in Ashoka are federally insured by the National Credit Union Association (NCUA) up to $250,000 per account. Ashoka's field of membership includes the extended Shambhala community, their family members, and associations within the Shambhala community. Ashoka provides basic financial services for its members, including deposit accounts and lending. At present, Ashoka does not offer transactional accounts (checking, debit and credit cards).

Ashoka was formed in 1975 under the guidance of the Vidyadhara, Chogyam Trungpa Rinpoche. The intention was to begin to establish a community-based financial institution that could help bring stability and prosperity to the developing sangha. Ashoka means "without torment" in Sanskrit. The credit union form permits community members with savings to obtain a competitive return on their insured deposits and to "recirculate" these funds within the community through loans to credit-worthy members and associations. The credit union form has been popular for decades in both the United States and Canada as a means for community development.

Ashoka has no shareholders; it is owned by its members. It is governed by a board of directors elected from within the membership. Ashoka is lead by a Manager who is responsible to the board and the members to assure that the credit union serves its role successfully. Ashoka is audited regularly by the Colorado State Banking Commission to assure that it is operating within the laws and regulations governing credit unions and in a manner that is fiscally sound.

Ashoka has grown slowly and carefully over its 36 years. Today, the credit union has a stable deposit base in excess of $2,000,000. The large majority of these funds, generally around 90%, are invested in loans to members, with the balance retained in insured accounts to assure liquidity. Loans are made to help members attain their financial goals and to help associations of members, including Shambhala Centres and divisions within Shambhala, to grow.

Over the years, Ashoka has had an excellent rate of repayment from its borrowers, far better than comparable credit unions and banking institutions. We believe that the deposits and lending results reflect an extraordinary level of commitment and confidence among the members to the vision of the credit union as an integral part of the Shambhala mandala.

Looking ahead, we want to build a system of financial services that further unifies our mandala, expanding on what Ashoka is able to do today. We are planning to provide interactional on-line services and continue to look into credit and debit cards. We also wish to expand the credit union's services to our Shambhala Centres and Groups with convenient and efficient electronic funds transfer and other money management tools.

The emphasis on working with the Shambhala teachings within society is reemerging as a fundamental practice within our community. Ashoka Credit Union was founded on this vision -- that basic financial sanity and stability can be understood and attained personally and as a community. We believe that the credit union is an important part of our exploration of the underlying goodness in the world that is the key to building the enlightened society.

(This announcement was from the Shambhala News Service)