We are establishing an Interim Steering Committee for the Common Good Bank project. The committee will begin in June or July 2010 by crafting a new Strategic Plan for the project, with input from staff and consultants, and will oversee the implementation of that plan for about a year.

Timeline

Here is a rough timeline estimating levels of involvement for committee members:

Jun – Jul Initial strategic planning session(s) (4-6 hours). (very active)
Jul – Aug Refine Strategic Plan. (active)
Sep – Dec Monthly meetings to launch and steer the Strategic Plan. (moderate)
Jan – Jun Staff continue to implement the Strategic Plan. (mild)

Requirements and Composition

The committee will consist of 10-12 diverse members who meet the following requirements:

• Have sufficient time to devote to doing the committee’s work. The work of the project should not be squeezed into other commitments or be a resume builder for the prospective member.
• Believe in the mission, vision and work of the Common Good Bank project.
• Comprehend and accept the legal liabilities associated with the actions of the organization. [which requires being reasonably sharp]
• Understand and comply with their job as an Interim Steering Committee member – the give it get it or get off principle. [which comes down to commitment and integrity]
• Possess key experience and skills needed by the project, such as entrepreneurial experience, banking, financial planning, information technology, law (especially bank and securities law), PR/ marketing , and/or fundraising expertise.
• Can meet in person in Western Massachusetts.

Understanding the Project

Committee members will need to understand the Common Good Bank mission and structure. This website has an overwhelming amount of information. Here are some pages or sections that will be particularly helpful for the Interim Steering Committee:

• Overview
• Economic Democracy
• Strategic Plan for our nonprofit parent, Society to Benefit Everyone (this plan summarizes most of our project strategies to date)
• Recommendation document from ALIVE Communities consultants
• Advisory board discussion about those recommendations