Democratic membership representation is a hallmark of the credit union movement. Common-bond groups long have elected people from among their ranks to serve as their voice in credit union decisions.

These volunteers understood first-hand their constituency’s needs because they were part of the same socioeconomic demographic.

But the makeup of many credit union boards hasn’t kept pace with the changing face of membership demographics. Statistics indicate—and first-hand experience confirms—that older, white men continue to predominate boards.

These volunteers provide valuable service to their credit unions, but may lack a personal understanding of many current and prospective members’ needs and preferences. Increasingly, credit unions view board diversity as a competitive advantage. Diversity reflects more than just race or ethnicity.

 

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