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An explanation of “split-dollar” life insurance premium and death benefit arrangements between credit unions and executives.
Merger fails, but CU finds its next CEO—and stays on track with leadership transition.
The answer to this question can help align all board members around a single vision before the search process begins.
Here’s a mental tally of things many top execs wish their board would do to make their CEO role easier and more productive.
Here’s the rest of the list of things many top execs wish their board would do to make the CEO role easier and more productive.
University FCU chair and CEO say effective communication is critical to a board giving its top executive useful feedback.
Tips from IBM Southeast Employees’ Credit Union
Professional dialog and fruitful differences of opinion get lost when board-executive relationships become too close.
Once a credit union’s board of directors has completed the lengthy, critical and often difficult task of hiring a new CEO, both the new executive and the directors must begin the process of building strong rapport in an environment of mutual respect. It is crucial to the credit union that the stewards of the institution and its top executive have a common vision, and priorities that are aligned.
The board exerts full but indirect control over both what a credit union does and how it does it. This control is maintained not by getting “into the weeds,” but by setting policy, retaining the right to change any policy at any time, and being the final arbiter of what is acceptable management action.
Who are the wider group of people affected by CU directors’ work? Yes, members, but that’s just the simple answer
Dan Clark of credit union consulting firm Dan Clark Associates, LLC, Tallahassee, Fla., describes situations for which it would be normal for a board to hold an executive session, and notes that an executive session is just one possible type of “other” board meeting a credit union’s leaders can have.
To develop a solid CEO/board relationship, reveal your assumptions and don’t go too far on “getting along.”
To avoid paying an middling salary to a great CEO, credit unions must have an overarching executive compensation philosophy that considers more than immediate market competiveness.
BMI FCU is splitting the president/CEO title to prepare for its top executive’s retirement.