MADISON, Wis.– CUES has released The State of Credit Union Governance, 2023 in partnership with Quantum Governance, L3C, co-authored by Operations Research at the University of North Carolina at Chapel Hill.
The State of Credit Union Governance, 2023, focuses on four key elements of governance: roles and responsibilities, trust, engagement and accountability. It draws on data collected from the governance assessments of credit union boards, with responses from nearly 200 directors, CEOs and other C-suite staff across the U.S and Canada.
Key findings include:
- The four elements are correlated in a statistically significant way
- Boards are most effective at building trust and least effective at remaining engaged
- Board and senior management continue to be misaligned in the area of governance
Findings also showed that credit union boards are, in certain targeted areas, stepping up in some very important ways, while they continue to fall far short in other critical ones.
”We learned something so critical about understanding governance effectiveness through developing this report and we are eager to share that knowledge to help insure the future of credit unions through sound governance practices,” said Quantum Governance CEO Jennie Boden. “As the credit union industry evolves and contemporizes along with our social, economic and technological environments, how these organizations govern themselves is critical to the financial health and well-being of all our communities.”
The full report is available for download at content.cues.org/GovernanceReport2023.
CUES is the leading talent development solutions provider for credit unions in North America. We educate, develop and support credit union CEOs, executives, directors, and emerging leaders through partnerships with premier business schools, live and online events, digital learning, networking, and premium content. With over 42,000 members and growing, we measure success one leader at a time.
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