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.
- Evaluate your role in hiring and retaining your next CEO.
- Assess the value of custom-fit executive benefits
- Review the trends in compensation for credit union executives
- Assess which intrinsic and extrinsic rewards will best attract your next CEO.
- Review how your current compensation philosophy supports CEO retention.
- Describe the steps involved in the CEO appraisal process.
- Define the board’s role in the CEO appraisal process.
- Recognize how goal-setting fits into the performance management process.
- Identify the differences between an ongoing appraisal process that focuses on progress toward goals and mid-course corrections and a simple end-of-year review.
- Explain how board meeting effectiveness can impact board performance.
- Describe several examples for improving board productivity.
- Recognize how creating better structure before, during and after meetings can help the board be more productive.
- 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.
- 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.
- 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.
- Recognize the advantages of applying time and resources to credit union advocacy efforts.
- Identify the keys to effective advocacy.
- Identify the steps involved in preparing to meet with an elected official.
- Learn about the value of advocating for credit unions and how to prepare for testimony
- Recognize 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 the credit union.
- Define the relationship between the board and the committees.
- 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.
- 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.
- Identify key strategies to ensure a productive CEO/board working relationship.
- 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.
- Discuss the benefits of an effective CEO performance assessment process.
- Define the role of the board in the strategic planning process.
- Explain why strategic planning should be considered an ongoing, integrated process.
- 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.
- 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.
- Recognize the value of assessing your board governance.
- Define board authority and accountability, as well as issues that can undermine board accountability.
- Understand the responsibilities of the board chair to foster a strong board culture.
- Assess and develop criteria for board chair effectiveness.
- Evaluate and consider improving meeting facilitation.
- Recognize the value of each board members strengths in helping achieve goals.