The Village of Somerset, in partnership with the St. Croix Economic Development Corporation (SCEDC), is seeking a community member interested in serving as an appointee to the Revolving Loan Committee for the Regional Business Fund.

St. Croix County RLF Loan Committee Rules:

1. The committee will have seven spots, each designated as the following:
   Seven local community representatives, one for each of these municipalities:
   Town of Hudson – appointed by Town of Hudson Board
   St. Croix County – appointed by St. Croix County Board of Supervisors
   New Richmond – appointed by City of New Richmond regular Council
   Village of Hammond – appointed by Village Board
   Village of Woodville – appointed by Village Board
   Village of Somerset – appointed by Village Board
   City of Hudson – appointed by City of Hudson regular Council
2. The terms are two three-year terms. At the end of the appointee’s term, the appointing organization for that community’s spot shall be contacted by the Executive Director of St. Croix EDC to request a new appointment at their next regularly scheduled meeting.
3. Committee appointees should be active in the local community they are appointed to represent. There must be at least one commercial lender, along with business and public representation. A majority of the committee members must have the necessary skills to analyze proposals and determine whether they represent prudent investments, possess commercial lending experience and/or credit analysis skills
4. Committee members are expected to attend at least 50% of the meetings annually. Lack of regular attendance may result in removal from the committee.
   Committee members may be removed by a majority vote of the full committee for cause, including but not limited to failure to meet attendance requirements, conduct unbecoming of a committee member, or failure to fulfill the duties of their appointed role. Prior to removal, the member in question shall be notified in writing and given an opportunity to address the committee. Members may also voluntarily resign at any time by providing written notice to the committee chair.
5. Committee members who have a direct or indirect financial interest in a loan application being considered — including but not limited to being employed by, having a business relationship with, or having a personal relationship with an applicant — must disclose that interest to the committee chair prior to the meeting at which the application will be reviewed. The disclosing member shall recuse themselves from voting on that application but may contribute to the conversation regarding the application. Disclosures and recusals shall be noted in the meeting minutes. Members are encouraged to err on the side of disclosure when uncertain.

If you’re interested, please complete an application and submit it to info@villageofsomerset.us by Thursday, September 10, 2026.