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Boards continue to struggle with the line between effective direction and counterproductive meddling. To get a clearer picture, imagine that instead of a credit union, your board is responsible for a cookie company.
Here are some key aspects of a very good board meeting.
Having an organized recruitment process in place not only makes it possible to fill vacancies on a board in an effective and speedy manner, but it creates a foundation for building a skillful and diverse board.
Credit unions operate in a different world than a generation ago. Greater competition in the financial services marketplace, declining membership and the prevalence of mergers and expanded charters have changed the landscape. Has your board of directors evolved to keep pace with this new reality?
The Board Building Cycle, by Berit M. Lakey, Ph.D, addresses these concerns and more in a comprehensive, nine-step approach that credit unions can use to develop high-performing volunteer boards. Lakey, a credit union governance expert with more than 30 years of experience, identifies important ongoing steps for maximum board performance.
The Board Building Cycle presents practical tips, worksheets, documentation samples, links to comprehensive resources, and informative case studies. Explore each phase of the cycle to learn how you can strengthen your credit union board.
Term limits and policies to ensure board rotation have long been debated among credit union boards. While they’re not a perfect solution, they offer some important benefits.
Continuing education, which is most often either mission based or governance related, is an important way to increase the board's "intellectual capital." Doing it effectively will greatly benefit your organization through better decisions in the future.
A long-time CEO describes best practices for forging a strong CEO/chairman team.
Making things right when things go wrong takes patience, perseverance, and most of all a systematic approach: 1) fix the person’s feelings first and then 2) fix the problem at hand.
Fort Knox FCU Board Secretary Dick Ardisson describes the path his board took in selecting and putting in place its governance policy.
Exceptions on compensation bar now apply to certain non-voting volunteers as NCUA rethinks reimbursement
What are the best steps to take to recruit new board members? How to conduct a successful search.
Executive sessions are an important tool in effective governance. When is it appropriate to hold executive sessions and how can they best be conducted?
United Nations FCU leverages the Carver governance model to focus its board on policy-setting rather than operational details, to the benefit of members.
Boards can implement this meeting tactic to “bundle” mundane and non-controversial action items for approval in one vote. Used properly, this approach allows the board to preserve more time for topics that require group discussion.
PSECU’s board of directors use an associate director program to prepare and evaluate potential board members.