Finding potential candidates to serve on the board of directors is an ongoing challenge for many credit unions. Being proactive in your approach will help bring diverse perspectives and fresh voices to your board for the betterment of the organization.
“One of the stumbling blocks we’ve seen to effective board governance is the tremendous status quo that exists in many board compositions with the same people being elected time and time again due to geographical constraints,” says Michael Daigneault, CCD, CEO of CUES strategic partner Quantum Governance L3C, Herndon, Virginia. “I believe there should be mechanisms in place to encourage regular board renewal for the benefit of the credit union, and virtual attendance in combination with some in-person meetings opens up the field of potential candidates for so many boards.”
A major component in effective board renewal is taking a strategic approach to finding the best people who will add value to the board.
“Those folks don’t just fall in your lap; you’ve got to go out and find them,” Daigneault says. “Composing the ideal credit union board of the future does not take place by happenstance. It is deliberate, thoughtful and forward-thinking. Eliminating barriers like travel time to and from regular board meetings allows for an ever-expanding pool of quality candidates.”
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