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Learning Plans

Use the learning plans below to increase board knowledge. Each plan will direct you to relevant videos, articles and whitepapers developed by subject matter experts. Use the plans’ end-of-session questions to help spur board meeting discussions.

Introduction to Governance

Learning Objectives:

  • Understand the definition of board governance and have a clear understanding of where the board's authority comes from.
  • Understand the nature of board work and how that work is addressed at your credit union.
  • Understand the fiduciary role of the board and how fiduciary responsibilities apply to specific functions in the credit union.
  • Describe the specific responsibilities of the board.
  • Define board authority and accountability, as well as issues that can undermine board accountability.
 
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Introduction to Strategy

Learning Objectives:

  • Explain why strategic planning should be considered an ongoing, integrated process in order to deliver the best possible value to members.
  • List the questions the board should consider in developing, evaluating, and adopting a strategic vision.
  • Describe the issues the board must consider in thinking strategically to establish the credit union’s mission, vision, and values.
  • Discuss techniques and governance practices involved in maintaining the strategic focus needed to achieve long-term strategic success.   
  • Define the role of the board in the strategic planning process.
 
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Introduction to Credit Union Financials

Learning Objectives:

  • Read and understand a credit union balance sheet.
  • Read and understand a credit union income statement.
  • List critical financial ratios and indicators the board monitors to evaluate credit union performance and be prepared to ask substantive questions of management when appropriate.
  • Describe the role of the board in developing and monitoring key performance indicators.
  • Outline the processes your board uses to integrate financial information into its strategic planning process.
 
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Introduction to CEO Relations

Learning Objectives:

  • Identify key strategies to ensure a productive CEO/board working relationship.
  • Describe the steps the board must take to hire the credit union’s next chief executive officer.
  • Discuss the role of succession planning and leadership development in ensuring that the board can respond promptly to replace the CEO in the event of unexpected circumstances.
  • List the components of an executive compensation program and identify the role of executive compensation in rewarding performance, ensuring retention and providing incentives to achieve strategic goals.
  • Discuss the benefits of an effective CEO performance assessment process.
 
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Introduction to Risk Management

Learning Objectives:

  • Explain the importance of taking reasonable risk to achieve reasonable return.
  • Provide reasons why avoiding risk can cause harm to your credit union.
  • Differentiate and explain the three separate approaches to risk management.
  • Explain the steps involved in managing risk/conducting a risk analysis, including what is involved in identification, assessment and mitigation.
  • Describe the role of the board in the ongoing risk management process.
  • List the various reports board members receive that allow you to track how well risks are managed within the organization.
 
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Introduction to Committees

Learning Objectives:

  • Understand the advantages a committee structure provides to the board of directors.
  • Describe the key functions and structural components of a committee.
  • Identify various types of committees and understand their purpose, including the nominating committee and governance committee, as well as the specific requirements related to the supervisory committee.
  • Discuss the value each type of committee brings to the board and to the credit union as a whole.
  • Define the relationship between the board and the committees.
 
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Introduction to Advocacy

Learning Objectives:

  • Understand the advantages of applying time and resources to credit union advocacy efforts.
  • Identify elected officials and determine how to best increase their awareness of the credit union movement.  
  • Describe the process of strategically developing politically influential relationships with lawmakers.
  • Identify the steps involved in preparing to meet with an elected official. 
 
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Introduction to Fiduciary Duties

Learning Objectives:

  • Describe the fiduciary role of the board and how fiduciary responsibilities apply to specific functions in the credit union.
  • List the nine specific responsibilities of the board.
  • Name common traps that hinder effectively meeting fiduciary responsibility.
  • Describe the key risk management functions of the board of directors.
 
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CEO Transition

Learning Objectives:

  • Describe the steps the board must take when considering the hire of the credit union’s next chief executive officer.
  • Identify the CEO leadership competencies the board considers necessary to successfully operate your credit union.
  • Describe the importance of negotiating a written contract with a new CEO as a standard step in the transition process.
  • Identify the benefits of establishing a decision matrix to clarify roles and authority for credit union functions and decisions.
 
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Revitalizing Your Board

Learning Objectives:

  • Understand the important balance of continuity and rejuvenation for your board.
  • Evaluate and consider improving your credit union’s board renewal process.
  • Assess and develop criteria for new director qualifications and develop a plan to recruit new director candidates.
  • Determine the advantages and disadvantages of term limits to your credit union.
 
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Board Meeting Management

Learning Objectives:

  • Understand how board meeting effectiveness can impact board performance.
  • Describe several examples for improving board productivity.
  • Understand how creating better structure before, during and after meetings can help the board be more productive.
  • Describe how the board’s focus on strategic issues impacts meetings.
 
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CEO Performance Evaluation

Learning Objectives:

  • Understand the steps involved in the CEO appraisal process
  • Define the board’s role in the CEO appraisal process.
  • Describe how goal-setting fits into the performance management process.
  • Understand the differences between an ongoing appraisal process that focuses on progress toward goals and midcourse corrections and a simple end-of-year review.
 
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CEO Performance Evaluation 2

Learning Objectives:

  • Understand the importance of CEO assessment and have a clear understanding of the board's responsibility regarding the evaluation process.
  • Describe the importance of clarifying CEO responsibilities, job expectations, and annual goals as a crucial element to the success of the evaluation process.
  • Outline a CEO evaluation process that fits the needs of your credit union, board and CEO.
  • Describe CEO assessment as an ongoing process.
  • Understand that steps that should be taken to overcome concerns over improving the board’s current CEO appraisal process.
 
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CEO Compensation

Learning Objectives:

  • Evaluate your role in hiring and retaining your next CEO.
  • Understand the role of benchmarking in developing a competitive compensation plan.
  • Assess which intrinsic and extrinsic rewards will best attract your next CEO.
  • Understand how to align executive compensation with the credit union’s short- and long-term strategic objectives.
 
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